BOSTON (SHNS) - Warning that a "silver tsunami" of Baby Boomer businessowners looking to sell in the next 15 to 20 years could lead to vanishing local small businesses, advocates asked lawmakers Thursday to provide incentives for employee ownership structures.

John Abrams, who said his business was employee-owned for 40 years and has written two books on employee ownership, said about three million American small businesses including about 70,000 in Massachusetts have founders older than 55 and are likely to transition ownership in the next two decades.

"Some of those companies will be passed down in families, but less than in the past. Many will unceremoniously close their doors finding no buyer, leaving holes on Main Street. Others will be targeted by strategic buyers and private equit

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