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Mercury News – Workers rising: The push for city-supported worker coops is taking hold in these Bay Area cities

From the Mercury News:

When Rendell “Ren” Boguiren got a job in college at a South Bay pizzeria, he wasn’t expecting it would become a career. Now, as a part-owner in the business, he can’t imagine leaving. It was a transition made possible because co-founders Kirk Vartan and his wife, Marguerite Lee, made a decision in 2015 to sell the business they started, A Slice of New York, to their employees. Both continue to retain part ownership, along with 14 other worker-owners. “I take a lot of pride in being an owner,” Borguiren said. “It’s something I never would have expected.”

While employee-owned businesses are a small minority of all companies in the Bay Area and in the nation, it’s a model local cities are increasingly eyeing as one to invest in and sustain. The city of Berkeley became one of the first in the Bay Area earlier this week to directly support the worker-owned business model, when its City Council voted to approve $100,000 over two years to help existing companies as they transition to employee-owned entities. And on Tuesday, Berkeley’s Loan Administration Board will consider changes to a revolving loan fund to make it easier for worker coops to take advantage of the funds, too. In the South Bay, the city of Santa Clara will hold a study session July 9 to hear about ways it could support worker-owned businesses, a move that follows past efforts in Oakland, Richmond and Fremont.

Get the full story here:

https://www.mercurynews.com/2019/06/30/workers-rising-the-push-for-city-supported-worker-coops-is-taking-hold-in-these-bay-area-cities/