Project Equity

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This City Has A Radical Plan To Get Rid Of Bosses

From the Huffington Post: In a 4,000-square-foot industrial space tucked away in a West Berkeley neighborhood, a team of glass blowers is hard at work. In one corner, a young man named Sam is repairing a piece of laboratory glassware used for cannabis distillation, the bright orange flames from his lathe dancing just inches from […]

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New Research Details Effects of ‘Silver Tsunami’ on Local Economies and What To Do About It

From Whatcom Talk: Project Equity, a nationwide nonprofit dedicated to advancing community economic resiliency, released a report today examining the small business landscape in Washington, and the potential transfer or closure of many of these businesses as baby boomer owners retire over the next 15 years. This data, gathered in partnership with and commissioned by […]

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Training available for retiring business owners in Morehead

From the Morehead News: More than 26,000 Kentucky businesses, employing more than 300,000 people, are owned by baby boomers, many of whom have not identified the next generation of ownership and could be at risk of closing their businesses when they retire. Transitioning to a form of employee ownership could keep these businesses thriving and […]

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Berkeley Pledges Support and Funding for Worker Co-ops

From the East Bay Express: Last week, the Cheeseboard’s longtime home committed to a new strategy for fighting economic inequality and building the local economy: city support for worker cooperatives. The Berkeley City Council voted unanimously on Fe.26 to include co-ops in the city’s small-business revolving loan fund; give co-ops, along with women- and minority-owned […]

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Worker Cooperative Training in Hazard

From The Manchester Enterprise: More than 26,000 Kentucky businesses, employing more than 300,000 people, are owned by baby boomers, many of whom have not identified the next generation of ownership and could be at risk of closing their businesses when they retire. Transitioning to a worker-owned cooperative or other form of employee ownership could keep […]

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Nonprofit Takes Leadership Role to Address Business Succession “Tsunami”

From Nonprofit Quarterly: Here at NPQ, we have noted that a business ownership succession wave—often called the “silver tsunami”—is rising. According to the nonprofit Project Equity, nationally “baby boomers own 2.34 million businesses, employ 24.7 million people, and have combined annual sales of $5.14 trillion.” Sadly, 80 percent of these businesses lack succession plans. Slowly, awareness of the looming crisis […]

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Nonprofit helps employees take hold of reins as business owners retire

Read the full article at the San Francisco Chronicle Tom Adams and George Chittenden, owners of Adams & Chittenden Scientific Glass, have been coasting toward retirement. The prospect of retiring was once daunting, Adams told me, because he and Chittenden didn’t know what to do with the Berkeley glassblowing company they started together 25 years […]

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Employee Ownership and The Promise of Quality Jobs

From the Times of San Diego: In California and nationally, historically low unemployment rates are not a sign of prosperity, but indicatethe arrival of an economy that specializes in creating low-paying, temporary jobs with no benefits or job security. According to a Princeton University study, such positions were responsible for 94 percent of American job growth […]

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

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 […]

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Californian City Looks To Keep Its Factories

From Forbes: Project Equity approached Kline and the City of Fremont with a plan to both understand the threat they faced with ageing business owners and also to help get the word out that there that employee ownership could be a viable succession plan for them. “We talk to a lot of businesses to try […]

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

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 […]

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Employee Ownership Could be Answer to Exit of Baby Boomer Owners

From the Minnesota StarTribune (pdf): The deal-making crowd is understandably excited about the fees to be earned in helping baby boomers sell their businesses on their way into retirement. None of the business brokers and bankers appear to have yet pointed out what the nonprofit group Nexus Community Partners has been saying, that this big […]

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Baby boomer entrepreneurs hope co-op model will keep business going

From Marketplace.org (pdf) Baby boomer entrepreneurs hope co-op model will keep business going Berkeley’s reclaimed trash company Urban Ore has diverted tons of garbage from the dump and into the hands of customers, and the company has become a key part of Berkeley’s recycling ecosystem. But it could disappear. That’s because the owners of the […]

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Reducing Economic Inequality through Democratic Worker-Ownership

From The Century Foundation: Employee-owned companies are a specific type of for-profit business owned by their workers; democratic employee-owned businesses are owned and also run by their workers. As a concept, employee-ownership is primarily about profit-sharing and worker participation. Employee-owned companies allow workers to take home a bigger, fairer share of the fruits of their […]

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Employee Ownership: A Solution that Preserves Retiring Owners’ Businesses

From Shelterforce: Reflecting growing enthusiasm for worker co-ops, the Eastern Conference for Workplace Democracy—held last month in Worcester, Massachusetts—attracted a record 300-plus participants. One item on the agenda: the possibility of creating new worker cooperatives through conversions in which employees buy a business from an exiting owner. The stakes are large—and not just for worker co-op advocates. Indeed, literally millions of […]

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