Business succession

/Tag: Business succession

ESOPs, a Heartland specialty, turn workers into owners

For Hal Gershman, the problem was one of succession: what to do with the North Dakota business that his father, “Happy” Harry Gershman, started in 1944, and that Hal took over and steered through multiple expansions starting in 1976. Hal’s daughter had her own career and wasn’t necessarily interested in assuming leadership of Happy Harry’s

Pace of Business Conversions to Employee Ownership Accelerates

Quick: what do a grocer in Sonoma County, California; a bookstore in Cambridge, Massachusetts; a real estate company in Columbus, Ohio; and a coffee house in Rock City, Maine have in common? Answer: all four companies are converting to worker ownership. At NPQ, of course, we have profiled employee ownership. As we noted, “a business succession crisis

Can Employee Ownership Hold Back a Tsunami of Small Business Closures?

To paraphrase John Oliver, it is hard to find two words in the English language more likely to put you to sleep than “business succession.” Oliver famously made that claim for “net neutrality,” but the phrase “business succession” might be even more mind-numbingly boring. And yet, a business succession crisis that could cause millions to lose

Four reasons why employee ownership can solve your business succession issues

Business succession is often the elephant in the boardroom, however things change and business owners need to retire. Poor planning can leave a previously successful business very vulnerable. In reality, it’s never too early to start thinking about your succession options. The traditional exit route of selling to a trade buyer isn’t always attractive, especially