Protecting your business legacy: business succession and resiliency

207 West Jefferson Street,Jackson NC 27845

23 September, 2022

Description

In partnership with Martin County Economic Development, the North Carolina Employee Ownership Center (NCEOC) is hosting a workshop on succession planning for privately held businesses. Business owners have put a lot of hard work into their businesses, and many of them are looking to retire or move on to something new. Only a small percentage of businesses are passed down from generation to generation, and 80% of businesses never even sell. Selling to one's employees ensures that the owner gets fair market value for their business and their employees keep their jobs. Please join us to explore succession planning and dive into how selling to the employees can be utilized to increase employee recruitment & retention, protect jobs, increase community wealth, and create a more vibrant, inclusive economy. NCEOC's vision is that all North Carolinians benefit from strong local economies and shared prosperity through various forms of employee ownership: employee stock ownership plans (ESOPs), cooperatives, and employee ownership trusts (EOTs). We do this through telling stories, forging partnerships, and providing unbiased information, with a particular focus on outreach to businesses that are Black and Brown-owned or have a majority Black and Brown workforce.