Many business owners regret selling their business within the first year. Why? Because they failed to plan for their exit. Almost no business owners have a formal eit plan so they end up with limited options. Most think they will sell to a third-party and many actually are able to, but regret it when they realize how the new owner changes it.
A proper exit plan begins with setting goals for the business owner, spouse, children and other stake holders. These goals are the foundation…Continue
Posted on August 5, 2019 at 12:00pm
This article describes in-depth the difference between Employee Stock Ownership Plans and worker cooperatives as well as the difference between worker cooperatives and unions. In addition, it details how worker cooperatives function and how they are different from traditional companies. The example is about breweries, but the concept applies to any industry.…Continue
Posted on May 13, 2019 at 10:30am
The Tax Cuts and Jobs Act of 2017 provides a new way to shelter capital gains when you convert your traditional business to a worker cooperative. Actually, it works for any realized capital gain.
Posted on May 3, 2019 at 2:47pm
Forbes has provided a great primer on Community Development Financial Institutions (CDFIs). They are not just for startups. They also work when you want to convert your traditional business to a worker cooperative.
Posted on May 3, 2019 at 2:43pm