From Next City: Philadelphia and other cities across the U.S. face an impending wave of small business upheaval as Baby Boomer-era owners reach and pass retirement age. The majority of those owners have no clear succession plan, nor do they have a new generation ready and willing to assume ownership. As this “silver tsunami” approaches, […]
From Cision: ARLINGTON, Va. and NEW YORK, May 8, 2019 /PRNewswire/ — Co-ops have real power to transform structurally disinvested communities into strong, vibrant places of opportunity. Through Capital Impact Partners’ Co-op Innovation Award, three cooperative organizations have the chance to create systemic change in their communities. For the fifth annual Co-op Innovation Award, Capital Impact Partners and The Workers Lab partnered to award […]
From Fifty by Fifty: Since 2012, CFNE has financed 15 co-op conversions including providing nine loans for business acquisitions and twelve working capital lines of credit to recently converted businesses. Some of our borrowers include: A Yard & A Half Landscaping Co-op, a largely immigrant co-op serving residences throughout the greater Boston area; Island Employee […]
From Home Health Care News: Home care agencies continue to grow in number as the population of older adults increases. However, as home care owners decide to retire themselves, they are sometimes permanently shutting down their operations, leaving a gap in the local economy and forcing workers who are happy in their roles to seek different […]
From NPQ: Typically, when US businesses think of employee ownership, the form that ownership takes is an employee stock ownership plan (ESOP) company. The most up-to-date data (from 2015) finds that 10.8 million Americans work at an estimated 6,669 companies in which an ESOP owns all or part of the company. Because an ESOP is a federally regulated […]
From Next City: Roughly 10,000 baby boomers turn 65 every day in the United States. They don’t all own small businesses, but their aging presents an opportunity for more workers to get the chance to own businesses and even build some wealth. Baby Boomers own the majority of small businesses, but only 17 percent of […]
From NPQ: “Baby Boomers own the majority of small businesses,” notes Oscar Perry Abello in Next City, “but only 17 percent of them have a formal exit plan for when they want to retire.” As NPQ has noted, employee ownership is increasingly considered a way to preserve jobs and businesses as owners retire. An estimated 24.7 million people work for boomer-owned […]
From Forbes: For social entrepreneurs concerned about growing income inequality in the U.S. and around the world, one way to spread the wealth is through employee ownership. With that in mind, you’d think impact investors would be clamoring to invest in such companies. Not so much. Still, according to a new report, while impact investors […]