Massachusetts

Company Stories

News

Explosion of Interest in Worker Cooperatives Drives Economic Changes

From Truthout: It’s been more than 10 years since the financial crisis of 2008, and working people are still being hammered by its effects — stagnating wages, a widening gap between the rich and the poor, and a rise in the sharing economy to meet basic needs. At the same time, one legacy of the […]

0 comments

How Massachusetts is working to get retiring business owners to let their employees take over

From Fast Company: Massachusetts wants to nudge these business owners toward another option: selling their companies to their employees. The state hired two nonprofits with expertise in shifting to employee ownership models–Working World and ICA Group–to revive its Office for Employee Involvement and Ownership (EIO), which was initially established in the late 1980s but faded […]

0 comments

Massachusetts Seeks to Avert Business Shutdowns by Boosting Employee Ownership

From Nonprofit Quarterly: Vartikar says that most small businesses choose one of three options when their owner retires: 1) sell to a competitor or institutional buyer, 2) pass the company on to their children, or 3) shut down entirely. Vartikar estimates that two-thirds of businesses end up closing down. Now, however, state and business officials […]

0 comments

Employee ownership can save jobs, build the state’s economy

From the Boston Business Journal: In an era of a widening wealth inequality, the time has come for the advancement of employee ownership models. That’s why I am thrilled that the EIO will soon be back in business. Over the last two years, thanks to the leadership and vision of Senate President Karen Spilka, who has worked […]

0 comments

Mass. lawmakers revive effort to spur employee ownership

From the Boston Globe: he news: The Massachusetts Office of Business Development last month hired two consultants, ICA Group and Working Wealth, to revive the Massachusetts Office for Employee Involvement and Ownership. ICA and Working Wealth will be paid $150,000 to travel the state and preach the gospel of employee ownership — at events and in meetings with potential candidates […]

0 comments

Changing its tune: Downtown Sounds to become worker-owned cooperative after retirement of founder Joe Blumenthal

From the Daily Hampshire Gazette: Downtown Sounds, a city fixture for more than 40 years, is preparing to become a worker-owned cooperative, as the only owner the business has ever known, Joe Blumenthal, readies for retirement. “It’s really an institution in the community,” Blumenthal said this week. Blumenthal, 70, opened the store in 1976, with […]

0 comments

Are Cooperatives Really So Difficult to Finance?

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 […]

0 comments

Forum To Discuss Strategy For Saving Jobs When Small Businesses Close

From WAMC: Massachusetts loses an average of 42,000 jobs a year due to small business closings.  A nonprofit organization in Springfield is hosting a forum today to look at a strategy to save the jobs by selling the businesses to the employees.  WAMC’s Pioneer Valley Bureau Chief Paul Tuthill spoke with Fred Rose, co-director of the […]

0 comments

Greenfield’s Ewing Controls invests in itself as it takes on international projects

From the Greenfield Recorder (pdf): Both men decided to move to co-op ownership, giving their employees a chance to buy into the business and allow for democratic governance, with each of the worker-owners having an equal share in the business. “For Tom and I, it was very much a business decision,” said Ewing, who specializes […]

0 comments

Retirement of Boomer Business Owners Could Leave Millions Jobless – Unless Workers Take Over

From In These Times (pdf): The federal government estimates that more than 10,000 baby boomers retire every day—4 million people every year. Between them, soon-to-retire boomers own 2.34 million businesses, with nearly 25 million employees. Boomer-owned businesses generate $949 billion in payroll, and $5.14 trillion in sales. Yet the vast majority of boomer business owners lack a written […]

0 comments

Search by State

Want more company stories and news? Click here to look at another state.

0 comments