20 Dec Broughton Consulting Helps Launch the North Carolina Employee Ownership Center
Broughton Consulting collaborated with a number of partners, including the Employee Ownership Expansion Network, Democracy at Work Institute, the North Carolina Budget & Tax Center, and the Industrial Commons, to launch the North Carolina Employee Ownership Center (NCEOC). NCEOC educates business leaders about Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs) as strong exit options that also preserve jobs and community impacts. Dedicated to increasing community wealth and creating a more vibrant, inclusive economy, NCEOC has a particular focus on preserving minority businesses through employee ownership.
The impetus for creating the NCEOC grew out of the rising concern around the large number of businesses owned by Baby Boomers who will soon retire, some without a solid succession plan. Thousands of jobs could disappear as these owners shut their doors.
“This is a key moment in history with many private business owners retiring,” says Broughton Consulting Principal Anne-Claire Broughton. “Those who don’t have children ready to take the helm or a ready buyer are at risk of closing down. Exiting via employee ownership can provide an owner with excellent tax benefits while preserving their legacy, local jobs, and community impacts.” Read more at http://www.nceoc.org.