Insource Renewables – Pittsfield, ME

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Insource Renewables is a 10-employee Solar business in Pittsfield, Maine. The original owner recognized his limited capacity to continue to manage and grow his business as a sole proprietor and saw conversion to employee-ownership as a solution that would balance his lifelong commitment and anticipated growth of the business. Insource Renewables provides a unique opportunity […]

Cooperative Development Institute

Sun Journal – Chamber offers series on leaving a business

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From the Sun Journal: The Lewiston Auburn Metropolitan Chamber of Commerce, in partnership with the city of Lewiston Department of Economic Development and the Cooperative Development Institute, is offering a workshop series on leaving a business. Planning for Tomorrow is a three-part series on options and strategies for business owners to Exit Their Business and […]

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 […]

Rock City Employee Cooperative – Rockland, ME

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Rock City Employee Cooperative is a 25-worker café and roastery in Rockland, ME, that became a cooperative corporation in 2018. The founder started the business in 1992 and saw in the sale an opportunity to reward workers for their efforts building the business, assurance that the café’s character as a main street community center would […]

Maine

Maine Public Radio – The Co-Op Economy in Maine

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From Maine Public Radio: For many people, when they hear the term ‘co-op’ they think of the local food store or maybe one of the lobster co-ops that dot the coast.  But Maine has co-ops of all sizes and types in the retail, agriculture, fisheries, manufacturing, housing, financial services and other sectors.  October is Co-op […]

Maine

Rural Cooperatives – Maine solar business pursues conversion to worker­owned co­op to sustain business, create more jobs

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From Rural Cooperatives: Much has been made of the oncoming wave of baby boomer retirements — dubbed the “Silver Tsunami” — and the opportunity for retiring business owners to convert to employee ownership as a business succession strategy. Particularly in rural areas, where the population is much older than average, selling any small business is […]

Democracy at Work Institute

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

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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 […]