• Assemble financing, terms of sale, and execute the purchase of the business
• Create and implement a transition plan to an employee-owned business
• Outline operational and decision-making duties to new employee-owners
• Provide business training, and professional development for employees post-sale
• Review financial, legal, and operational documents
While any business can become an employee-owned business, this specific partnership requires the following:
• Ten or more employees
• Demonstrate historical profitability
Additional criteria may be considered.
This program is powered by:
BOC Network
Business Outreach Center Network improves the economic prospects of traditionally underserved groups.
SBIDC
A local economic development corporation serving the businesses in southwest Brooklyn.
The Working World
Non-extractive financing for worker-cooperatives with tailor-made business support.
The Working World, headquartered in New York City, has fifteen years of experience converting companies to employee-ownership. This partnership with local business support organizations will only improve the process of working with business owners and employees to transition ownership successfully.
About 17 million people in the US work in some variation of an employee-owned business. Investments from this partnership are designed to result in direct ownership and control of each business by its employees.
Watch our video explaining what is employee ownership and how does the program work.
Downloadable brochures and slides.
Have questions about the program or conversions in general? Reach out to Micaela Skoknic at mskoknic@sbidc.org, or 718 965 3100 ext. 106.
We are happy to assist businesses with all whatever challenges they might be facing. Reach out to Brady Meixell with further questions and issues.
