Baby boomers, born between 1946 and 1964, have been instrumental in shaping the industrial landscape of the Western world. They’ve built businesses from the ground, weathered economic storms and employed millions. However, with technological advancements, changing consumer preferences, a highly globalized economy and inflation, many of these businesses are finding it hard to stay afloat.
The challenges are complex. Many blue-collar businesses have been slow to adopt new technologies, not to mention the latest AI solutions, making them less competitive. As baby boomers retire, there’s a noticeable gap in skilled labor, with younger generations often gravitating towards tech-driven roles. Also, global competition, online marketplaces and changing consumer habits have impacted “traditional” business models.
