Selling Your Business: The Many Benefits of Employee Ownership

 

 

Sarah Durham started her first business when she was 24 years old. 28 years later, Sarah was ready to move on from the Brooklyn-based creative agency Big Duck, to her next business venture. Rather than selling to the highest bidder or closing up shop, Sarah sold Big Duck to its employees, transitioning the business into a worker cooperative. Fellow Brooklyn-based firm, The Soze Agency, is also employee-owned.

Michael Skolnik and his fellow co-founders were drawn to employee ownership as a way to build a company with equity at the center of both their internal and external practices. These New York City agencies both completed their transitions to employee ownership in 2021. Since then, the shift has benefited each business in so many ways, from motivating employees to persevering a business legacy.

In this EO Equals webinar, hear directly from Sarah and Michael about their decision to transition, what the process looked like, and the benefits they’ve seen so far.