At Nexus, we recognize the difficult choices many business owners face right now. We have expanded our business services and created our new Business Legacy Program, which implements a 3-pronged strategy to help keep local legacy businesses stabilized in our community.
- Consulting on succession planning: helping businesses explore succession planning and restructuring options provided by employee-ownership.
- Technical assistance for emergency funds: assisting in finding and applying for emergency loans and grants.
- Grants for businesses: limited funding is available to clients that are exploring employee-ownership options.
Many local businesses are considering their liquidity, exit, and succession planning options. Selling all or part of a business to the employees is a viable option for owners looking to exit or revitalize their business and can be an opportunity to access new capital, gain tax benefits, motivate employees, and secure the legacy of the business. Owners can opt to stay with the business as a co-owner, or transition out at their own pace.
The Nexus Worker Ownership Initiative offers free consultations for business owners to learn about transitioning to employee ownership. Our full suite of services includes:
- Learn about succession planning and restructuring via employee ownership models
- Feasibility studies to assess a fair sales price and tax benefits for the seller
- structuring the sale
- Lining up financing with our CDFI and philanthropic partners
- Training employees on governance (management structures often stay the same)
Find out if employee ownership is a fit for your business. For many business owners, it is the ideal way to receive fair market value, gain tax benefits, and to ensure that it will live on as an asset for your employees and your community.
Contact us for a free consultation. We keep all private information confidential, and never share with 3rd parties without written permission.