In a landmark move, Canada has introduced new legislation that enables the creation of Employee Ownership Trusts (EOTs). This innovative framework is designed to facilitate a transition for business owners looking to sell their companies, ensuring a sustainable and inclusive approach to succession...
As millennials now dominate the workforce, there's a noticeable shift towards valuing collaboration and innovation in the workplace. To set your business apart and attract/retain top talent, consider offering ownership opportunities through an ESOP, worker co-operative, or Employee Ownership...
ESOP (Employee Stock Ownership Plan), EOT (Employee Ownership Trust), and Worker-Owned Cooperative are three different models for transferring ownership of a business to its employees. Each model has its own advantages and considerations, so the choice depends on the specific goals and...
And not your kids.... HBO's Succession depicted the complex dynamics of passing down a family business, painfully reminding the viewer of the potential challenges and pitfalls of transitioning leadership to the next generation. Having worked with many family businesses, these dynamics can be all...
As the winds of change sweep through Canada's business landscape, a monumental shift has just been codified into law. On June 21, 2024, the passage of bills C-59 and C-69 marked a historic moment for employee ownership for Canada. The establishment of Employee Ownership Trusts (EOTs) within the...
The Canadian Federation for Independent Business reported in January 2023 indicating that 76% of small business owners are planning to exit their business in the coming 10-years. Of these only 9% have a succession plan in place. Given this, what are you doing to facilitate selling your business?...