Employee ownership is most often implemented as an exit strategy for owners of healthy businesses in good times, and we’re always eager to talk with those interested in exploring the possibilities. During the present recovery period, there are additional scenarios in which employee ownership might provide a solution.
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Re-launching in the wake of the COVID-19 crisis is a daunting prospect for many business owners. Having already put years of blood, sweat, and tears into getting an enterprise into solid shape, the prospect of going back into debt and working long hours to get things humming again is a tall order for anyone.
An alternative to going it alone could be to sell to your employees. By doing so, you can preserve jobs, maintain local ownership, and share in the company’s future success. It’s possible to sell the business entirely and exit soon, or become a co-owner in the restructured company and continue your working life.
Financing that is specifically designed for such employee buyouts is available. We at the Vermont Employee Ownership Center can provide help in assessing feasibility, then work with you and the employees to pull a deal together.
Interested in learning if an employee-ownership strategy could work for your business? Please schedule a free consultation now by using this calendly link or sending an email to [email protected]
