Here you’ll learn about employee ownership directly from our MNCEO experts. Get to know the employee-owned businesses already thriving in Minnesota, and find the inspiration to begin your journey toward employee ownership.
When it comes to choosing an ownership transition strategy, owners of closely held businesses have a lot to think about. What transition options are available? And which of these options are a good fit for the goals of both the owner and the company? Clear and cogent answers to these questions can be elusive.
Read MoreForward-thinking business owners want to create a succession plan that preserves their legacy and benefits the organization. Understanding employee stock ownership plans, ESOPs, and how they can impact a business, the employees and a community can be a perfect option for savvy leaders to explore.
Read MoreLooking for a quick bird’s eye view of Employee Ownership resources throughout Minnesota? Check out this article written by Minnesota Chamber of Commerce business owners looking for business succession support.
Read MoreFeatured in the Minnesota Society of CPA's September Footnote magazine, Sue Crockett explains the upcoming fate for many baby boomer owned businesses.
Read MoreIn an industry that focuses on profit and expect a 75%+ turnover rate, we support Long Haul Trucking and their endeavors to put their drivers first.
Read MoreThe Nexus Community Partners hosted a presentation titled, “Introduction to Succession Planning and Employee-owned Business Models” to debunk common misconceptions about Worker Cooperatives.
Read MoreEmployee ownership is also an empowering tool for business, offering employees value, purpose and wealth in exchange for their tenure. These offerings are motivating, leading to increases in productivity and boosting bottom lines.
Read MoreWhile many businesses in the next two decades may pass to the next generation, a large portion of them will be sold — many of them to an Employee Stock Ownership Plan, or ESOP. How do you know if an ESOP is a good option for your company?
Read MoreView this table to see a basic outline of the various approaches to employee ownership. To make the table concise, there are some nuances and details left out. Follow the links to find more detailed explanations of various issues are provided where appropriate.
Read MoreTom Prosser shared the options he considered and why employee ownership was the best option for him and the future of the business that he had worked so hard to build.
Read MoreAn Employee Ownership Trust (EOT) exists to benefit both current and future employees. With looser ties to the Internal Revenue Code and U.S. Department of Labor regulations, forming an EOT is likely to be less costly than an ESOP. Read on to read more.
Read MoreEmployee Ownership Trusts, a “no-hassle” form of employee ownership. According to an article published by Fifty by Fifty, an Employee Ownership Trust provides a unique opportunity not found in ESOP (Employee Stock Ownership Plans).
Read MoreA feasibility study is the go-to metric analysis study for companies who are considering transitioning to an employee ownership model. An employee stock ownership plan (ESOP) can be a great way to transition your business and give back to your employees; however, it is not for everyone.
Read MoreEstablishing and administering an ESOP can be complicated. However, with an ongoing focus on educating participants and guidance from seasoned professionals, the benefits of an ESOP normally far outweigh the complexities.
Read MoreHow many people have had the thought, “If I ran this place, things would be very different”?
The team at Brooklyn Stone and Tile (BKST) had that very thought and opportunity to purchase the company from the former owner back in 2018. Since then, each 11 co-owners are able to build financial equity in a workplace they call home.
Read MoreWe are all familiar with the notorious Forbes lists. However, Forbes just published an interesting list which outlines 11 of the 100 largest privately-owned companies are in fact, employee-owned. Do you recognize any of these companies? A few might just surprise you!
Read MoreFifty by Fifty, is a movement focused on scaling up employee ownership and converting 50 million employee-owners in the US by 2050. On December 14th, 2020, this collaboration released a report outlining the effects of COVID-19 on businesses around the US.
Read MoreFounded in 1970, Reel Precision was simply a small manufacturer of hinges and electric clutches. Their primary goal was to manufacture top of the line products while cultivating a rewarding, productive workplace environment.
Read MoreIn a December article, Start Tribune applauds Minnesota’s two major window manufacturers for rolling out nearly $50 million in profit-sharing for their employees. Andersen Corp., based in Bayport, will soon issue $33 million in profit-sharing to employees and donate $4 million to community causes, officials said this week.
Read MoreMINNEAPOLIS—Diversified Plastics, Inc. (DPI), a custom plastic-injection molder and digital manufacturer of high-precision thermoplastic components, was named winner of the 2019 Plastics News Excellence in Employee Relations Award.
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