MNCEO and HM Cragg joined Club E to present on the topic of "Creating Employee Ownership through Selling Your Company to an ESOP".

Selling a company to an ESOP provides a retirement plan for employees which creates wealth equity while at the same time providing a succession planning tool for the selling owners. What else does an ESOP do? Save on corporate taxes. Any portion of a business that is owned by the ESOP, is not subject to federal corporate taxes. This creates excess cash which allows the company to expand their business through acquisitions which brings the employees from the acquired company into the ESOP and creates a new group of employee-owners.

You will walk away from this event with the understanding of 1) how an ESOP holds the power to grow a company and the local economy and 2) how an acquisition by an ESOP creates more employee owners while providing an exit strategy for small business owners.

Club E was joined by Sue Crockett, Tony Wand, Kurt Uhlir, Kevin Weise, and Tim Foley to discuss ESOPs as an exit strategy.