Mountain Xpress – Nonprofit groups to host Aug. 23 session on worker-owned businesses

From Mountain Xpress:

Charen’s interest in the idea of cooperative businesses is grounded at home. Her father is 72 years old and has been trying to sell his company for eight years now. The trouble he’s had with selling his business got her wondering: How many local businesses actually sell? From her research of a BizBuySell survey, she found only 20 percent of businesses listed for sale actually sell.

“One of my concerns is losing these businesses to outside interests,” Charen says. She adds that it’s never too early for a business to start planning for succession. In March, Xpress reported 45 percent of all local businesses with paid employees in Buncombe County are owned by someone age 55 or older. All those local businesses together make a “big economic impact” on the local economy, Charen says.

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