05-06-2026 Gov. Mike Braun launches Keep IN initiative to keep small businesses in Indiana

FOR IMMEDIATE RELEASE
Wednesday, May 6, 2026

Gov. Mike Braun launches Keep IN initiative to keep small businesses in Indiana

INDIANAPOLIS - Today, Governor Mike Braun launched Keep IN, an initiative to provide small business owners with resources and support as they plan their futures. The initiative is spearheaded by the Office of Entrepreneurship and Innovation, a new state agency created by Gov. Braun to help small businesses and entrepreneurs thrive in Indiana.

Keep IN aims to preserve local jobs and locally-rooted businesses by reducing preventable business closures and supporting smoother business ownership transitions.

"Supporting Hoosier businesses has been a cornerstone of my administration from day one - and part of that support must include helping the transition to the next generation of Hoosier entrepreneurs," said Governor Mike Braun. "As a business owner myself who acquired and grew a business here, and then prepared it for transition, I know firsthand the importance of succession planning for business owners and communities. Thousands of businesses in Indiana face ownership transitions in the coming years. We want to help keep those businesses thriving in the Hoosier State."

The Office of Entrepreneurship and Innovation worked with the Indiana Business Research Center to gain insight to localized data on the need for business owner support - and the results clearly show the need to invest to ensure a key part of Indiana's economic foundation remains strong:

• Nearly 60 percent of total business revenue in Indiana is generated by businesses owned by people aged 55 or older.
• At least half of the business revenue in 88 out of 92 counties is associated with 55+ owners.
• National data reveals that 92% of small business exits involve closure, rather than sale or transfer of ownership.

"Keep IN is about helping Indiana business owners plan ahead and make informed decisions about the future," said Brian Schutt, Office of Entrepreneurship and Innovation Director. "By starting earlier and increasing access to information, we can help support stronger outcomes for business owners, employees and local communities."

As part of the Keep IN initiative, Gov. Braun is launching a pilot with SMB.co, a platform that helps small business owners understand their business value and provides educational tools and resources to support early planning and informed decision-making.

Through the pilot, business owners in three economic development regions - Northwest Indiana, South Central Indiana and Southwest Indiana - can access SMB.co tools free of charge, including business valuations, transition readiness assessments and exit planning.

The SMB.co pilot program is a state-led effort implemented at the regional level, ensuring business owners receive support that reflects the realities of their local communities and the industries they serve.

"This initiative is about preparation, legacy and putting the future of Indiana's small businesses back in the hands of the owners who have served their communities for decades," said Schutt.

Fundamental to the work of Keep IN is collaboration with organizations around the state that help provide resources and support to Indiana businesses. As part of that, Gov. Braun is excited to announce that the Office of Entrepreneurship and Innovation has partnered with the Indiana Chamber of Commerce to offer a series of free workshops for Hoosier business owners who are considering selling their businesses or beginning the process of succession planning.

"As the organization representing more small businesses than any other in the state, the Indiana Chamber of Commerce is pleased to expand business transition resources that help employers continue supporting their communities, workforce and the broader economy," said Vanessa Green Sinders, Indiana Chamber President and CEO. "Efforts like this underscore why the Indiana Chamber championed the creation of OEI to help Main Street businesses succeed."

The workshops will cover topics such as determining a business's value, identifying resources for legal guidance and developing a succession plan. Business owners interested in learning more and to sign up to be notified when registration is available can visit http://www.indianachamber.com/smallbizsuccession

A video of today's announcement can be found on the Governor's YouTube page, here.

Photos from today's announcement will be available on the Governor's official Flickr account page, here.

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