Co-op Conversions Help Businesses Remain as Boomers Retire

Converting businesses like A Slice of New York to an employee-ownership model has many advantages, according to Oakland nonprofit Project Equity, which was founded three years ago to help business owners discern which kind of employee-ownership model would work best and then assist with the transition.

It increases the likelihood that the business will stay locally owned and operated, gives workers a greater equity and turns what might otherwise be a low-paying blue-collar job into a more rewarding career, nonprofit co-founder Hilary Abell said.

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“A common misconception we hear from business owners is they don’t think their business could run that way or that they don’t think their employees could run the business like they do,” said Project Equity co-founder Alison Lingane. “But it’s not always as big a shift as people think. It’s a shared form of entrepreneurship. Not every single person needs to be able to do the things we think of as roles for an entrepreneur or an owner.”

Read the rest at the San Francisco Chronicle

 

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