Skip to content

As a Business Owner

What will be your legacy?

mnceo_with_state-01

The Minnesota Center for Employee Ownership serves as the central hub for information and resources around employee ownership in Minnesota.

Split Rock Studios, Arden Hills, MN
Split Rock Studios, Arden Hills, MN

Why is this a key moment for employee ownership in MN?

Employee ownership is a business model in which employees collectively own a percentage
of the business for which they work. Two of the main forms are Employee Stock Ownership
Plans (ESOPs) and worker cooperatives. In both, employees are given a financial stake in
the business. As the business prospers, employees prosper

  • Over the next 10 years, more than 4 million U.S. businesses owned by retiring baby boomers will change hands or dissolve
  • More than half of all small business owners do not have a succession plan
  • Many businesses will be sold and leave the state of MN, or close their doors permanently, resulting in lost jobs, tax base, and community impacts

Why consider employee ownership?

  • It is an ownership succession plan that preserves jobs and community impacts, while giving the selling shareholders preferred tax treatment
  • It is a proven strategy for employee recruitment and retention
  • When employees have a stake in the company’s success, everyone benefits
Walman, Minneapolis, MN
Walman, Minneapolis, MN

How can the Minnesota Center for Employee Ownership help?

  • The MNCEO’s mission is to educate business owners and their advisors (lawyers, bankers, accountants, wealth advisors) on the benefits of employee ownership via Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs). MNCEO provides resources, case studies and articles, and a list of service providers who can assist with employee ownership transitions. MNCEO serves the entire state of Minnesota.
Plastic Products Company Inc., Lindstrom, MN
Plastic Products Company Inc., Lindstrom, MN