As reported by Project Equity, almost half of the privately-held businesses in the US are owned by baby boomers, and 6 out of 10 business owners in the US are expected to sell their company over the next decade. But many business owners will find it difficult to find a buyer when they are ready to sell, which means they will likely lay off their employees and close their doors.
But there is an opportunity to change this trajectory by helping these businesses transition to worker-cooperatives. Converting non-cooperative businesses to worker cooperatives can provide numerous benefits for the workers, the community, and the selling business owner. To read more about converting businesses to cooperatives, check out the Legal Guide to Cooperative Conversions, written by Janelle Orsi, William Lisa, and Sushil Jacob.
To check out Robert Reich's video interview with Janelle about coop conversions click here.