A historic wave of ownership transitions is set to reshape the backbone of the US economy. The fate of jobs, local spending, and wealth creation all hinge on whether enough qualified—and diverse—buyers can step in to continue to pave the way for small business ownership. In this episode, Shelley Stewart III, McKinsey senior partner and Roberta Fusaro, editorial director, talk about the scale and stakes of the "Great Ownership transfer". After, Ken Yearwood, McKinsey partner, joins to talk about the risks of inaction and the practical pathways to making these transitions work.  The McKinsey Podcast: https://www.mckinsey.com/featured-insights/mckinsey-podcast Shelley Stewart III: https://www.mckinsey.com/our-people/shelley-stewart The Great Ownership Transfer report: https://www.mckinsey.com/institute-for-economic-mobility/our-insights/the-great-ownership-transfer-a-new-era-of-business-stewardship McKinsey Institute for Economic Mobility: https://www.mckinsey.com/institute-for-economic-mobility/overview Theme music composed, performed, and produced by Joy Ngiaw.See www.mckinsey.com/privacy-policy for privacy information