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Business Conversions
Some employee-owned businesses start off with a cooperative structure, but many others start as conventional companies. The ICA Group can help you assess whether employee ownership is right for your business and help you through the conversion of your business to a worker cooperative.
Benefits of Employee Ownership
- Allows owners to have control over the sale of business on a timeline and with terms that fit the owner’s financial needs.
- Recognizes and rewards employees who have worked hard for the business, understand how it works, and are committed to long-term success.
- Keeps jobs in the local community that might otherwise be lost if the business closes or is sold to a larger firm.
- Ensures the legacy of a business, maintaining the culture, customer relationships, and flow of goods and services to the community.
Interested in transitioning to employee ownership? We engage a five-step process to support your business:
Establish goals
Assess feasibility
Plan the transition
Complete the transition
Operate as employee-owned
ICA will work with you to identify your financial goals and business needs and support you through the transition to employee ownership. We engage legal and financial experts to assist you with the process of selling your business, and provide continued support to ensure long-term success.
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Massachusetts Center for Employee Ownership
The ICA Group, in partnership with Working Wealth, administers the Massachusetts Center for Employee Ownership (MassCEO), with funding from the state. This means that we are able to provide business owners with free support for succession planning. If you are a Massachusetts business owner considering employee ownership (converting your company to a worker cooperative, ESOP, or other hybrid model) we can:
- Help you identify your goals for exiting your business
- Complete an initial valuation of your business
- Assess whether a transition to employee ownership is financially and operationally feasible
- Connect you with service providers who can assist you with a transition to the appropriate employee ownership model
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New York City
The ICA Group is part of the Worker Cooperative Business Development Initiative (WBCDI), a network of ten organizations charged with supporting the creation and development of worker cooperatives in NYC. This work aims to connect New Yorkers with good jobs, stronger businesses, and a fairer economy. As part of this initiative, ICA is able to provide free consultation services to business owners looking to transition their businesses to worker owned cooperatives. If you are a business owner based in NYC who is looking to sell your company, we can:
- Help you identify your goals for exiting your business
- Complete an initial valuation of your business
- Assess whether a transition to employee ownership is financially and operationally feasible
- Connect you with service providers who can assist you with a transition to the appropriate employee ownership model
For more information or to sign up for a free consultation under the NYC program, contact Shelley Miller at smiller@icagroup.org or call 617-232-8765 ext. 1102.
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Resources on Worker Ownership
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Contact Us
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Support our work to grow and sustain a strong network of employee-owned businesses in the Commonwealth.
MassCEO is administered by the ICA Group, a leading expert on worker ownership and the oldest national organization dedicated to the development of employee-owned companies.
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