Employee Ownership: A Strategy for Succession and Resiliency
Date: May 24, 2022
Time: 1:00 p.m. - 2:00 p.m. (ET)
Only 40% of small businesses have a succession plan in place. According to Project Equity, 6 out of 10 business owners plan to sell in the next decade. Small businesses make up 99.9% of all firms and provide 47.1% of all jobs in the United States. If you are a small business owner, it is crucial to have a succession plan in place. However, business owners believe that a family member will take over the business once they are ready to retire or in the event they pass away.
This webinar will provide an opportunity to learn more about the Employee Stock Ownership Plan (ESOP) business model and how it can assist with succession planning. Guenevere Abernathy from the North Carolina Employee Ownership Center will discuss the importance and process of succession planning. Robert Hilton, ASA, managing director at South Park Advisors LLC, will provide his expertise on exit planning and valuations. Ken Tyner, RRC, PE, executive vice president of administration at REI Engineers Inc., will discuss his experience of being the internal trustee at REI as his organization transitioned to an ESOP.
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