Hello, and welcome to today’s Employee Ownership Small Business Week Minicast.
I’m Jeanette Webster, Chief Investment Officer of the Fund for Employee Ownership at Evergreen Cooperatives. Employee Ownership or EO equals Enduring Organizations because the new EO company continues to serve its customers from the same location in the community with the same employees.
After the conversion to an EO organization, the employees become owners and manage the business going forward. This ensures the business survives after the retirement or eventual exit of the small business owner. Employee owners take the responsibility of serving their customers while benefiting their communities and themselves.
The new employee owners share the wealth they create and have a new level of accountability to the business to ensure its success. EO businesses tend to have greater profit margins and lower employee turnover because of this ownership structure, which provides a solid foundation for the future of the organization.
For more information about the benefits of employee ownership and to contact an employee ownership expert, visit employeeownershipequals.org.
