After following its progress through Congress over the past year, the Main Street Employee Ownership Act was signed into law on August 12th!

Among other elements, the Act makes the conversion of a business to employee ownership via a worker co-op or Employee Stock Ownership Plan (ESOP) eligible for Small Business Administration (SBA) 7(a) loans. Such loans, which the SBA guarantees up to 85% up to $5 million, will be a significant new tool in the box for business owners considering selling to their employees.

We're excited to be partnering with the Cooperative Fund of New England and the Center for an Agricultural Economy to present our FREE "Selling to the Employees: A Path to Ownership Succession" seminar in Hardwick from 4:30-6pm on Wednesday, 1/24! The event will cover the ESOP and worker co-op models, including a discussion of financing options for low-wealth employee groups seeking to purchase a business from a departing founder.

Expanding on the success we've had for the past two years organizing Employee Ownership Month celebrations in the Upper Valley, for 2017 we're expanding to three events in different parts of the state: Montpelier, Windsor, and Burlington! These gatherings are always a great opportunity to meet folks from different employee owned companies and learn what they're doing to build strong cultures of ownership.