Employee-owned businesses

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How customers benefit from partnering with employee-owned businesses

Each October, the spirit of employee ownership is highlighted during Employee Ownership Month, an ideal time to boost awareness for employee stock ownership plans (ESOPs) and their benefit to companies, employees and communities at large. Leading the charge in Employee Ownership Month is The ESOP Association, which believes employee-ownership improves American competitiveness, increases productivity in the

We bought the company! Vermont takes leading role in employee-owned businesses

Jason Patnaude calls it the worst day of his life. Patnaude, 54, attended vocational school in Essex after graduating high school, leaving early to install Megabucks machines. Two and a half years later, he was let go when the machines became obsolete. "My daughter was three months old, we built a house, and bought a

ESOPs rising: Employee ownership gaining traction

When people think of employee-owned businesses, large companies such as grocery chain WinCo — with scores of locations across the western U.S. — spring to mind, said Poncho Baker, the new CEO of Ritchie Trucking in Fresno. But for owners who want to see their business and life’s work continue, and for workers looking for

On worker cooperatives and workplace democracy

Think about the last job you held. As long as your check cleared, how much did you care about the company’s success? How much did you care about their goals and ambitions? Maybe a little, if you were a committed employee. Conversely, how much do you think the CEO or owner of the company cared

Making a Case (and Chairs, and Desks) for Employee Ownership

Employee-owned businesses tend to outperform their competitors, a growing body of research shows. According to the National Center of Employee Ownership, businesses with employee ownership models grow sales and employment at a faster rate than businesses without such programs. Employee-owned firms also perform better than their counterparts during recessions, per research from Georgetown University. For

Gillibrand bill would encourage more employee-owned businesses

Sen. Kirsten Gillibrand (D-NY) is pushing for legislation that would provide more access to funding for employee-owned businesses. Gillibrand said there is an urgency to create more opportunities for retiring baby boomer business owners. In 2007, Peter Rhodes wanted to sell his company, Syracuse Label and Surround Printing. His family was not interested in it