10 reasons to go EO
- Project Equity
Project Equity has been helping business owners for the past 10 years sell their businesses to their employees—either through a worker cooperative, an Employee Stock Ownership Plan (ESOP) or an Employee Ownership Trust (EOT).
We are celebrating our 10th anniversary by sharing 10 reasons you should consider selling to your employees in our business owner newsletter and here in this blog. Each month, we will announce a new reason to celebrate with stories of business owners and businesses that transitioned to an employee ownership model.
If you are not yet subscribed to our Business Owner Insider, sign up here. In this monthly newsletter, we share stories about employee-owned businesses, explore transition topics, answer frequently asked questions, and keep you updated on upcoming webinars.
Reason #1: Going EO can help you leave a lasting legacy
Selling your business to your employees means continuing the legacy that you worked hard to build.
“Employee ownership keeps the mission of the business going long after the founders aren’t working there anymore. It ensures that there’s some consistency and a future that the owners can be proud of.”
Monica Rocchino, selling owner of The Local Butcher Shop
Watch: Selling your business, preserving your legacy
Hear from a business advisor, selling owners and employee-owners as they discuss the reasons to choose employee ownership, recorded at our 2023 Employee Ownership Equity Summit.
Reason #2: Going EO keeps your business in the community
Selling to your employees means keeping the business in the neighborhood it has served. Employee ownership positively impacts communities. It secures local jobs and as the employee-owners build equity, they invest more in their communities.
“There’s no question in my mind that this was the right thing to do. Not only for me personally but for the company, the community, the employees, the fishers and all of the stakeholders. “
Laura Anderson, selling owner of Local Ocean Seafoods
Watch: Learn why Laura sold Local Ocean Seafoods to her employees
We had a chance to sit down with Laura from Local Ocean Seafoods in Newport, Oregon to ask her about her experience transitioning to employee ownership. When she was ready to retire as the current owner, she determined the best fit for her business was an Employee Ownership Trust (EOT). Watch this short video to learn why she made that decision. (Hint: there’s more than one reason.)
Stay tuned! Another reason to go EO will be announced next month and will arrive in your inbox if you are subscribed to our Business Owner Insider.
