Trusted Advisors & Succession Strategists
Transitioning to a Worker Cooperative in Canada
Unlock the Power of Employee Ownership
Transitioning your business to a worker cooperative in Canada offers a dynamic and sustainable path for future growth. This model, where employees own and democratically control the business, enhances engagement, productivity, and loyalty.
Benefits of Worker Cooperatives
– Shared Ownership:Employees become co-owners, fostering a culture of collaboration and shared success.
– Democratic Governance:Decision-making power is shared among worker-owners, leading to a more equitable workplace.
-Sustainability: Worker cooperatives are proven to be more resilient, often outlasting traditional business models.
Financial Incentives for Business Owners
Business owners who transition their company to a worker cooperative can benefit from significant financial incentives, including:
Lifetime Capital Gains Exemption: Qualify for up to $10 million in Lifetime Capital Gains if the transition occurs before 2026, offering substantial tax benefits.
How Firefly Insights Can Assist
With over 20 years of experience in employee ownership transitions, Firefly Insights is your trusted partner. We provide:
– Customized Consultation: Tailored advice to fit your business needs and goals.
– Strategic Transition Planning:Support through every step, from financial structuring to legal compliance.
– Ongoing Guidance:Ensuring a successful and enduring transition to a worker cooperative.
Take the Next Step
Ready to explore the transformative potential of transitioning to a worker cooperative? Contact Firefly Insights today to start your journey towards a sustainable, employee-owned future.
Jennifer quickly establishes that she is ready to listen to the ‘whole you’ – not just the specific business problem you might have come to her with.
She has broad experience in leading successful small businesses – and she’s inspired me to enjoy the highs and to work through the lows of my own small business. Many thanks!
jennie coleman – ceo, Equifruit
MANAGEMENT
Who will manage the business when I leave?
Governance
Who makes what decisions, when?
FINANCIAL FRAMEWORK
Developing a solid financial framework allows you to see a successful future for everyone
EMBRACE CHANGE
A change management plan can help support the transition and your employees
MITIGATE RISK
Guiding you through the legal, tax and risks involved in the process
You know you need support to transition your business.
This is it.
You want all your hard work to mean something. Your business is meaningful to a lot of people and it deserves to have a future without you.
It won’t happen overnight and it won’t happen without commitment and an open mind, you know this. But you don’t know what you don’t know and, when it comes to transitioning your business to employees, there’s a lot to consider.
Welcome to progressive consulting and implementation designed to help you transition your business while staying true to your vision. Schedule a consultation and let’s see if we’re a good fit.