Mom-and-Pop Shops May (or May Not) Finance Aging Entrepreneurs' Retirement
It’s rare for couples these days to stick together for as long as John and Patsy McArthur have. Both now 63, they met in high school in rural Red Springs, N.C., and never ventured far. In their 45 years together, they have run a farm and, since 1987, a contracting business. As recently as 2008, when the housing market was booming, annual revenues of their 60-employee McArthur Construction topped $14 million. This got the McArthurs thinking about selling their company and using the proceeds to ease into retirement, figuring to travel and spend more time with their grandchildren. read more..
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