For Community Partners
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Why is Massachusetts investing in employee ownership?
Failure to plan for business succession is the leading preventable cause of job loss in the U.S.
10,000 Baby Boomers are turning 75 years old every day
Only 17% have a written exit plan.
90% of businesses never sell
Employee ownership can preserve quality jobs, root businesses in their communities for the long term, and help close the racial wealth gap by allowing workers to build assets through business ownership.
Converting to Employee Ownership is good for:
Business owners who can cement the legacy they’ve built and receive a fair price for the sale of their business
Workers who continue to work good jobs and are able to build assets through business ownership
The Commonwealth which benefits from a strong base of local firms that are less likely to close or lay off staff during economic downturns
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While employee ownership can help build sustainable firms and resilient business ecosystems, it is often misunderstood. MassCEO welcomes partnerships with local stakeholders – including business associations, government, and professional advisors – to increase awareness and support local policy goals.
- Webinars and conference presentations:
We share our expertise on employee ownership as an option for succession planning, and showcase its benefits through real-world examples of successful employee-owned businesses.
- Succession planning clinics:
We schedule confidential clinics with businesses in your membership organization. We provide business owners with an overview of available succession options, help them consider if employee ownership is a viable option, and provide resources to help them plan their next steps.
- Business surveys:
We perform market studies and conduct censuses of business owners to identify businesses at risk or closure or well-matched for employee ownership. This could be based on age of business or other criteria to achieve your desired impact.
- Program development:
We work with municipalities and community organizations on economic development initiatives that leverage employee ownership, particularly in BIPOC and low-income communities. ICA Group, the administrator of MassCEO, has launched Keep the Doors Open and the Owner to Owners Hotline, a collaboration with the City of New York, to address the time-sensitive needs of business owners challenged by the COVID-19 pandemic. We welcome other collaborations to keep businesses alive and thriving in your community.
- Research and consulting:
We assist both public and private stakeholders with identifying how to scale employee ownership in specific industries or geographies. Our work can inform the development of policy recommendations and programmatic initiatives.
MassCEO offers affordable consulting services and training curriculum to employee-owned businesses.
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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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