SAN DIEGO, CA – The first national training program on employee ownership was launched for Small Business Development Center Advisors (SBDC) and Directors. The program, led by the Workers to Owners Collaborative (W2O) in collaboration with America’s SBDC National Special Interest Section on Employee Ownership and Business Transitions, is a major step forward in supporting small business owners successfully navigate a business exit through sale to their employees. The program benefited 33 SBDC advisors and directors serving small businesses in 19 U.S. states.
“Through this program, these advisors are now equipped with a front line toolkit, case studies, and in-depth training to guide small business owners through the process of exploring the various types of employee ownership, and ensuring long-term sustainability once implemented,” said Special Interest Group Co-Chairs Diana Tourney (Clackamas, WA SBDC) and Isa Fernandez (University of Texas at San Antonio SBDC).
This initiative comes at a pivotal time. Millions of small business owners across the United States are approaching retirement with limited exit options. Exit planning that includes business continuity through a sale to employees has become urgent.
“This training program is a crucial step in creating equitable economic ecosystems as Employee Ownership offers a pathway to keep small businesses rooted in their communities while protecting jobs and legacy,” shares Frank Cetera, Business Transfers Program Director at Democracy at Work Institute, a national think-and-do-tank that convenes the Workers to Owners Collaborative. DAWI.
The program was designed to help SBDC advisors identify and assist business owners in considering and implementing employee ownership as an exit strategy.
- Five required sessions included the topics 1. Ecosystems / Vision, Purpose, Culture; 2. Worker Cooperative Conversions; 3. Other Forms of Employee Ownership (ESOPs & EOTs) and Union Co-ops; 4. Financing and Funding; 5. Advising, Consulting, and Professional Services.
- Ten featured experts from leading cooperative development organizations provided the training, including Center for Community-Based Enterprise, Co-op Cincy, Cooperative Development Institute, Cooperative Fund of the Northeast, DAWI, ICA Group, Nexus Community Partners, Project Equity, Shared Capital Cooperative, and U.S. Federation of Worker Cooperatives.
- 11 participants earned a certificate of Employee Ownership Competency from DAWI.
About ASBDC
The America’s Small Business Development Centers (ASBDC) provide a network of resources and expertise to help small businesses grow and succeed. Through training, and no-cost counseling, the ASBDC aims to foster economic growth and job creation in local communities across the United States.
About W2O
Workers to Owners (W2O) is a national collaborative of organizations working to transition small businesses to worker- and employee-ownership. Members share tools, practices, and innovations, aggregate data, broadcast a shared message in media and public presentations, and engage with companies, places, and governments. The Democracy at Work Institute acts as a backbone organization for the collaborative, with a goal to expand the volume, impacts, and accessibility of conversions across the country.