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3 local gov staffers are studying other cities’ coops to boost Philly’s democratic biz economy

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From Generocity: Cooperative biz models aren’t new in Philadelphia, but lately, they’ve been getting a bit more top-down support. A yearlong fellowship that teaches city leaders the necessary skills for catalyzing democratic business ownership is working in three local commercial corridors: 52nd Street, Woodland Avenue and East Passyunk Avenue. The SEED Fellowship — which stands for Shared Equity in […]

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Employee-Owned Businesses a Tool for Equitable Growth

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From the National League of Cities:  Income and wealth inequality, exploitative working conditions and displacement are critical issues faced by communities across the country. These challenges require strategies that create both stable employment and access to opportunities for building assets. Local governments have traditionally invested in the dual pathways of entrepreneurship and workforce development to […]

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Worker Co-ops Catch on in Philadelphia

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From Next City: Last fall, Colombia native Luis Eduardo Lozano and four other immigrant day laborers, tired of the indignities of scant, irregular hours and wage theft from employers, formalized the PWA Handymen Cooperative in Philadelphia. Now the worker-owned LLC offers residential and commercial interior and exterior renovation services. “To work in a co-op means […]

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A New Push For Employee Ownership in Chicago

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From Forbes: Social entrepreneurs interested in ESOPs and worker owned cooperatives: Take a look at what’s happening in the Chicago area. The Cook County Commission on Social Innovation, which was formed in 2016 to foster initiatives related to underemployment, public health, education and a slew of other issues, is exploring a variety of ways to support […]

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Small business owners are getting a new incentive to sell to their employees

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From TheConversation.com: The federal government just made it a lot easier to form an employee-owned business. In an increasingly rare example of bipartisan cooperation, President Donald Trump on Aug. 13 signed a defense bill into law that included a popular provision that allows the Small Business Administration to straightforwardly loan money to employee-owned businesses that wish to buy out […]

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Why the U.S. Needs More Worker-Owned Companies

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From Harvard Business Review: The gap in wealth in the United States between the ultrawealthy and everyone else has reached its widest point in decades. One way to narrow the divide is through the use of worker buyouts, in which ownership of a company transfers from a single person or a small number of people […]