There are many ways to transition your business to a new owner. Depending on your personal objectives and the current market dynamic some of these may be more suited than others. If you are considering selling your business, you do not want to sell to your competition and want to keep your business local you may want to consider doing this via an Employee Stock Ownership Plan.
ESOPs are one of the most popular ways for closely held business owners to transition ownership of the company to their employees. An ESOP may enable you to accomplish four key succession objectives:
- Control the timing of your exit from the business.
- Create a steady stream of retirement income.
- Realize significant tax benefits.
- Motivate and reward your loyal employees.
Join Jennifer Williams, Employee Ownership Specialist to explore how an ESOP could offer your business a viable succession plan.
Speaker Bio: Jennifer Williams
Jennifer is a social entrepreneur who is passionate about the intersection of social purpose and business. Jennifer has a degree in Anthropology and Political Science and has lived and worked in Mexico, El Salvador, Peru, and Ghana. Until 2013,
Jennifer was active in the growth of La Siembra Co-operative a worker-owned company, and she currently owns a local and organic food business in Ottawa with her partner. In addition Jennifer consults with ESOP Builders on the design and implementation of Employee Share Ownership Plans for Canadian companies.
Jennifer is the mother of 4 beautiful and energetic children. She loves dancing, experiencing different cultures and spending time in nature: [email protected]
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