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 […]

Maine

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

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 […]

Maine

Entrepreneurs Looking To Exit, Your Employees May Be Your Buyers

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From Forbes: Twin threats to economic growth and prosperity can both be addressed by increasing employee ownership, according to Camille Kerr, Co-Director, of Workers to Owners at Democracy at Work Institute. The first problem, she explains, is the aging baby boomer generation of entrepreneurs and business owners. “Right now, the United States is in an ownership crisis. […]

Maine

Going Co-op Employee Ownership Sustains Business Legacy

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From the Island Institute: The effort to sustain our communities and their economic and civic life for future generations scored a significant victory recently on Deer Isle. The employees of three retail businesses—Burnt Cove Market, V&S Variety and Pharmacy, and The Galley market—became concerned when word circulated that the owners were thinking about selling the […]

Cooperative Development Institute

Pacific Standard – Buying Out Your Boss: Worker Cooperatives Are the Future of Small Business

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From the Pacific Standard:  The recent Market Basket strike — 25,000 employees from 71 stores — was characterized by a Boston Review– and MIT Sloan-sponsored roundtable as The Summer of Market Basket. Unlike the summer’s other labor dispute to gain notoriety, fast food workers protesting for higher wages, the Market Basket strike seemed like a radical departure from a […]