H2I Group
Impact of COVID-19
The devastating impact of COVID-19 on our local economies
Employee ownership can support business continuity, preserve good jobs and rebuild our local economies.
Many local businesses are shutting down or are forced to severely curtail operations. Others need to shift operations and invest in retooling in order to operate in our changed, socially distanced environment. As Minnesota experiences some of the highest level of job losses since the Great Depression, leading economists fear that many of these businesses will not survive.
Employee ownership increases engagement, dedication and ingenuity, which is key to business success, and even more critical during this challenging time.
Employee engagement helps flatten the closure curve for businesses
Employee ownership increases engagement, dedication and ingenuity, which are key to business success. During this uncertain time, businesses must respond quickly to change. By embedding employee ownership into the recovery, we can help Minnesota's small businesses get through the crisis and help build their resilience for the future.
Employee Ownership creates more resilient businesses
Higher sales and growth - 2% higher sales and employment growth year after year (NCEO).
Lower unemployment - In normal times, employee-owners are six times less likely to be laid off; 50% less likely in the last two recessions (Rutgers).
The Census Small Business Pulse captures business owners’ responses to key questions about the outlook for their business, including the effects of COVID-19 and their sense of how long it will take for the business to return to normal.
WE CAN HELP
Join us in advancing a two-pronged small business recovery agenda that supports business continuity and incorporates employee ownership. With our partners, we are accelerating our efforts and working across Minnesota to help business owners who are considering closing their businesses for good or looking for a succession solution that preserves their legacy and yields benefits for all.
