Loren Rodgers
On December 2, the mayor of London, Sadiq Khan, announced the creation of the London Ownership Hub, which will launch in early 2023 with the goal of creating "the networks, resources and conditions to help worker co-operative and employee-owned businesses across London develop and thrive." London contains nearly 500 employee owned businesses, 30% of the total in the UK, and the sector proved resilient through the pandemic.
Loren Rodgers
Annual elections for our board of directors will take place in January, and members in good standing are invited to nominate themselves or other members during the nomination window, from now until December 21.
Loren Rodgers
The November 30 article Through ‘ownership trusts,’ investors can help employees become owners and owners retire on Impact Alpha's website focused on the employee ownership trust (EOT) as a new model of employee ownership in the U.S. Although EOTs are the primary form of employee ownership in the UK, they are relatively new in the U.S.
Loren Rodgers
“The NCEO CEO Network provided a ready-made network of peers from other ESOP companies. I learned more during our discussions on governance, culture, and other issues unique to ESOPs than I did from hours and hours of reading.”
Corey Rosen
Governor Charlie Baker of Massachusetts has signed a wide-ranging economic development legislative package that includes An Act to Enable the Massachusetts Center for Employee Ownership (S.261 / H.511), which will institutionalize the Massachusetts Center for Employee Ownership (MassCEO). The Office will be housed in the Massachusetts Office of Business Development. Much like the recently passed California Employee Ownership Act, the office will focus on outreach to business owners and serve as a resource hub for service providers and information. It will be led by a full-time director and will be able to make grants to local organizations to carry out its mission. The legislation also created a formal advisory board comprised of representatives from a number of stakeholder groups, including governor-appointed representatives from Massachusetts-based ESOP companies and worker cooperatives.
Loren Rodgers
The U.S. Department of the Treasury announced the 31 states that have received credit funds totaling $10 billion under the State Small Business Credit Initiative (SSBCI). The states, in alphabetical order, are Alaska, Arizona, California, Colorado, Connecticut, Hawaii, Idaho, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Utah, Vermont, and West Virginia.
Timothy Garbinsky
Our friends at the Employee Ownership Expansion Network (EOX) have announced the launch of a state center for employee ownership in Illinois. Much like the other state centers launched by the EOX in Minnesota, North Carolina, Missouri, and elsewhere, the Illinois Center for Employee Ownership focuses on providing resources on employee ownership as a succession option for businesses across their communities. By partnering with local universities (as in Pennsylvania) and government entities, as well as employee-owned businesses and service providers, state centers are able to serve as "boots on the ground" in the effort to spread the word about employee ownership. The hope is that state centers, through their unbiased, solutions-oriented outreach, will lead to a real sea change, building momentum for all forms of broad-based employee ownership.
Grace Dawson
It's time to start (or finish) your holiday shopping with gifts from employee-owned companies! Just in time for this gift-giving season, our 2022 Holiday Gift Guide highlights several employee-owned companies with fantastic gifts for everyone on your holiday shopping list, from music enthusiasts and bookworms, to dog lovers and aspiring chefs.
Nancy Wiefek
The Office of the New York State Comptroller recently released a report “Employee Ownership of Businesses in New York State” outlining the most common forms of employee ownership, the number of such businesses in New York State from the NCEO comprehensive database, and how “employee ownership can positively impact employee compensation and retirement assets making it an effective tool to create lasting wealth and improving employee satisfaction.”
