There are many reasons to consider converting your business to a cooperative. Employee-owned businesses have demonstrated their ability to be more financially successful than their peers and to weather economic challenges more effectively.  There are multiple benefits for the workers, current owners, consumers, and the communities in which the enterprise is embedded.

Some of the most compelling reasons to consider:

• The coming wave of Baby Boomer retirements and the devastating impacts of the COVID-19 pandemic threaten the survival of many small businesses. For some, conversion to a cooperative can be an attractive and empowering decision to make. 

• Employee- or community-ownership already fits well with your business’ core mission and values. You recognize and value your employees and the community as core stakeholder groups. 

• You're interested in creating wealth-building opportunities for employees, especially in low-wage sectors. The primary beneficiaries of profitable conversions are working- and middle-class people, making employee-ownership a powerful tool for reducing economic inequality.

• You operate a legacy business that serves an important function in the community, and members of the community might decide they want, together, to keep it in the community.

Cooperative conversions can happen in many different ways - for example, an owner can sell the business to the employees in order to retire or leave for other reasons, or a business can transition to employee or community ownership without the owner leaving the company. Whatever circumstance you’re in, our team of consultants can help guide you through the process.