WHATCOM — The Western Washington University Small Business Development Center is sponsoring a timely free webinar about the benefits of employee ownership of businesses.
This is SBDC analysis of the current situation: Many business owners are struggling to make it right now. It’s hard enough to keep a business afloat during COVID-19, never mind having the time to research new opportunities or do long-term planning. However, these COVID-related challenges are layered on top of an ownership succession crisis that was already unfolding because retiring Baby Boomers own nearly half of all small businesses in Washington state, that together provide nearly 600,000 jobs.
Statistics show that six out of 10 of these owners will try to sell their business in the coming decade, and many won’t find buyers. There is another way to build and grow a successful business that could help now and into the future: Employee ownership is a potential solution to keep businesses thriving, gain liquidity and provide an exit for the business owner.
The webinar at noon Thursday, March 25, is targeted toward business owners with 10 or more employees.
Presenters will include employee ownership experts (Project Equity and The Beyster Institute) and leaders in employee-owned companies.
For more information, go to https://project-equity.org/.