Retiring Baby Boomers and the Future of Worker-Owned Companies

"The only stakeholder invested enough to take over these businesses are the workers who depend on them for a livelihood, and the communities who depend on them for the benefit they have," he says. "Either these businesses close and we get sudden great unemployment, or we take an opportunity for wealth distribution and demographic inclusiveness."

Martin Staubus, a researcher at University of California San Diego's Rady School of Management, estimates 150,000 to 300,000 boomer-owner businesses a year could be ripe for conversion to worker ownership over the next 15 years. If boomers took the idea seriously, they could create a sea-change in business ownership structure in this country—and perhaps to no detrimental cost to themselves. Selling at least 30% of a company to its workers comes with a generous capital gains tax break.

Read the full article at Co.Exist

 

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