Illinois

Worker-owned co-ops: a model to build wealth for low-income communities in Chicago

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From the Chicago Reporter: Because of its historically tough political and economic environment for people of color, Chicago remains an ideal place to see gains through the establishment and growth of worker-owned co-ops. The productivity of the city’s minority workforce has long been frustrated by political malfeasance, lack of inclusion, violence and racism. Chicago should join […]

Carolina Common Enterprise

LEAF – LEAF Supports North Carolina Cooperative Development Center

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From LEAF: LEAF recently provided Carolina Common Enterprise (CCE) with financing to support the Rural Cooperative Development grant funding that CCE was awarded from the USDA to provide strategy and insight into how to prepare rural businesses to convert to cooperative ownership. Carolina Common Enterprise’s mission as a cooperative development center is to assist individuals […]

Maine

Portland Press Herald – Bill would help retiring business owners transfer ownership to workers

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From Maine’s Portland Press Herald: NORTHPORT — In 1992, Susanne Ward and her husband, Patrick Reilley, founded Second Read Books and Coffee, Maine’s first espresso bar-bookstore. Rockland’s Main Street was a highly unlikely place for the two entrepreneurs to choose at that time, as the city was struggling with a collapsing fishing industry and many […]

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 […]

New Jersey

Newark EDC – Employee Ownership

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From the Newark EDC: The City of Newark, under the leadership of Mayor Ras J. Baraka, is implementing the development of employee-owned businesses as a community wealth-building strategy. Our employee ownership initiative is designed to change the economic landscape for residents of Newark, NJ through the conversion of existing businesses to employee ownership. Historically, employee-owned […]

Center for Community Based Enterprise

Detroit Free Press – Silver Tsunami: Retirements put boomer-owned firms at risk but worker ownership can help

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From the Detroit Free Press: We’ve known for a long time that baby boomers are hitting retirement age. Those retirements will drain from the workforce a vast amount of skills and experience. But the loss to the workforce may go beyond the loss of the boomers themselves. Since a huge number of privately held companies […]