North Carolina

Wealth Works – Employee Ownership Pays Off

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From Wealth Works: Interest in employee ownership and other bottom-up business strategies has increased in western North Carolina and surrounding areas. Opportunity Threads is a success story that provides a model for employee ownership within the region. Founded in 2008 by a native of Morganton, North Carolina, Molly Hemstreet, Opportunity Threads employs about two dozen […]

New Jersey

NPQ – Nonprofits Shift Baby Boomer Businesses to Worker Ownership in Bid for Community Sustainability

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Read full article at Nonprofit Quarterly: At NPQ, we have written about the growing prominence of employee ownership, but mostly from the perspective of the value of preserving businesses and jobs in the community. Still, these community benefits will only be realized if business owners agree to sell to their employees. So, what would drive a business […]

Center for Community Based Enterprise

Entrepreneur – Why an Increasing Number of Retiring Entrepreneurs Are Selling the Business to Their Employees

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From Entrepreneur: Baby boomers own about half of all privately-held companies with employees in the United States. The 2.4 million business owners who belong to this aging demographic (one-third of whom have already passed 65) will need to develop sound and sensible exit strategies. As they look to the future, there is an elegant solution […]

Democracy at Work Institute

IEDC – For Retiring Business Owners, Worker-Owners Can Carry the Torch

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From the International Economic Development Council (pdf): For the busy owners of small businesses, short-term pressures often take precedence over long-term planning. That’s why many business owners lack a succession plan to ensure that the enterprise will continue when they’re ready to step down. The stakes are especially high when the firm is a community […]

North Carolina

Asheville Citizen Times – Employee Ownership could be Asheville’s Key to Prosperity

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From the Asheville Citizen Times (pdf): In Western North Carolina the 12,000 retiring small business owners (nearly half of the total according to our latest study) do have options. For example, they could sell their businesses to outside corporations looking to acquire more diverse assets for their portfolios. This often means layoffs, relocation, changes in […]

Project Equity

PR Log – Soon-to-retire Baby Boomers In Western North Carolina Own ½ Of All Privately-held Businesses

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From PR Log: The Industrial Commons and its national partner Project Equity, announced today that almost ½ of Western North Carolina small businesses are owned by aging baby boomers, demonstrating which small businesses in the WNC region are most vulnerable to permanently closing business or consolidating within a few years. It also identifies industries to […]

Opportunity Threads – Morganton, NC

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Industry: Manufacturing Location: Morganton, North Carolina Number of employees: 20 Became employee owned: 2008 Assistance: The Industrial Commons From the Company http://opportunitythreads.com/ Learn more The Industrial Commons – The story of Opportunity Threads: Rooting Economic Change United States Conference of Catholic Bishops’ Department of Justice, Peace & Human Development – How One Worker-Owned Cooperative Offered Hope […]