Employee Ownership Expansion Network

The fourth and final episode of Ryan Tansom's How #ESOPs Work podcast #miniseries (episode #326), "How ESOPs Work: The Life Cycle, ESOP Acquisitions, and Owner Success Stories," features #EOX National Service Provider Jim Steiker of SES ESOP Strategies and Ken Baker, EOX board member. In this episode, you will learn about the full life cycle of an ESOP company, including: How - and why - ESOPs acquire other companies, What happens to employees if an ESOP is sold, Why an ESOP company is a good exit alternative for a company who is not big enough to become an ESOP themselves, and the differences between selling to an already-formed ESOP and the normal M&A process of selling to a third party. Listen here: https://lnkd.in/eYWcgBiF

The Washington Center for Employee Ownership (WACEO) - incubated by The Whatcom Community Foundation –recently hired its first Director, Patricia Kwan. Kwan brings years of experience working in a wide variety of established and start-up business settings in business #development, #strategy, and #operations roles. She has an MBA from Yale University and a BS from University of California, Berkeley.  The Whatcom Community Foundation President and #CEO, Mauri Ingram, said of Kwan’s hire, “This appointment marks an exciting step forward in our mission to champion employee ownership - and expand opportunities for employees to prosper - across Washington state. We're eager for the Center to serve as a beacon for those curious about this transformative business model, and Patricia's leadership will be instrumental in guiding our efforts to educate, advocate, and inspire." For more information about WACEO or to get involved, reach out to Patricia Kwan, Director, at patricia@employeeownershipwa.org or 510-717-5470.

In honor of #EO month, we are highlighting different types of employee ownership. This week, the focus is Employee Stock Ownership Plans (ESOPs). An ESOP is a retirement plan that allows employees to own a portion or all of the company they work for. Here's how it works: Employees receive company #stock over time, usually based on how long they've worked there. The stock grows tax-free until it's paid out. Employees are typically not required to contribute to the ESOP. ESOPs can provide #taxbenefits to the company and the selling shareholders, and can help with employee #retention and #productivity. ESOPs are often used as part of a succession plan, allowing the owner to sell their shares and transition out of the business. ESOPs can also be used as a financing tool for the company, or to reward and engage employees. #EOX National Service Provider AmbroseAdvisors has a good overview of #ESOP basics: https://lnkd.in/da_jV3pR

While this quick video is meant to introduce Canadian business owners to the concept of an Employee Ownership Trust (EOT), we think it does a great job of simplifying what an #EOT is and how it works. Kudos to Jon Shell for his work! https://lnkd.in/d9hzBCKM"

#Congratulations to Quetzal Community Real Estate, Rock Steady Farm, and Red Emma’s for being named by the U.S. Federation of Worker Cooperatives (USFWC) as Worker Co-ops of the Year! Each year, USFWC’s Worker Co-op Awards recognize a range of worker-owned #businesses and cooperators at the forefront of the movement to build a thriving ecosystem for worker-owned and controlled businesses and their cooperative #leaders. Learn more: https://lnkd.in/gpypB-2h

#Congratulations to Prairie Capital Advisors, Inc. on successfully advising Marine Technology Inc (MTI) through its transition to an Employee Stock Ownership Plan (ESOP)! This strategic move will allow MTI's employees to have an ownership stake in the company, ensuring long-term stability and shared #success for all team members. Prairie Capital’s expertise continues to #empower businesses with innovative solutions to transition toward #employeeownership models. Read the full article here: https://lnkd.in/e_HjiPHd

Will we see you next week for GACEO's 3rd Annual Employee Ownership Celebration? Join us on October 24th for the third annual Employee Ownership Celebration, generously hosted by JE Dunn Construction honoring the ESOPS, co-ops, and other employee-owned businesses leading the charge in Georgia!! We are thrilled to announce this year’s special guests! Misti Martin, President and CEO of the Cherokee Office of Economic Development and the Georgia Be Pro Be Proud initiative, H. Grant Cagle, President & CEO of the Georgia Economic Developers Association (GEDA), and Justin Farquhar, Vice President of Savannah RISE. RSVP NOW - https://lnkd.in/g_6mJ-BF Become a Sponsor - https://lnkd.in/gMetthKF

Stay in the know on all things employee ownership! Subscribe to EOX's monthly #Newsletter! Did you miss EOX's September newsletter? Click here (https://lnkd.in/exnw6_SX) to join our mailing list and stay informed. Latest Edition: https://lnkd.in/eVaxAufE #EOX #EmployeeOwnership #MonthlyNewsletter

Listen to St. Louis-based CK Supply's story about becoming employee owned. President and CEO Ned Lane says, "It's not just a job - this is your company." Thank you Missouri Center for Employee Ownership (MOCEO) Executive Director, Marie Davis, and the board of the MOCEO as well as Brad Dunn and the #employeeowners at CK Supply for allowing us to tell their story.  Special thanks to JPMorganChase for their support of this project. https://lnkd.in/e257TyQ5

The third of Ryan Tansom's How #ESOPs Work podcast #miniseries (episode #325) "How ESOPs Work Myth Busting, 1042 Tax Deferrals, Warrants, Executive Comp Plans and More") features #EOX National Service Providers Miguel Paredes of Prudent Fiduciary Services Fiduciary Services and Keith Apton of The Capital ESOP Group Wealth Management. In this episode, you will learn how an ESOP offers #great tax benefits and how you can prepare to maximize your tax deductions before switching to an ESOP. You will also learn about the interview process from a trustee’s standpoint, and about warrant options to ensure that the best #interest of the #employees are at the forefront of the deal without screwing over the primary seller. Listen here: https://lnkd.in/e9b_knd8"