Employee Ownership: A Triple Win Solution
We all have a stake in cultivating and preserving a vibrant small business community. Thriving small businesses promote job stability for local residents and anchor neighborhoods that help driving local economies. Broadening ownership can prevent one of the greatest wealth transfers in history from resulting in a loss of jobs, goods and services in all communities, especially those that have historically lacked access to business assets, such as low-and-moderate income communities and communities of color. Employee ownership can be a critical solution to avoid this outcome—helping to build assets by increasing median household net worth, which is 92% higher for employee-owners than non-employee-owners.
The Democracy at Work Institute and National Urban League are collaborating with Citi Community Development on the Legacy Business Initiative, a nationwide effort to retain minority-owned legacy businesses by helping them convert to employee ownership.
Resource Details
Related resources (by topic)
Fighting Monopoly Power
Concentration has reached extreme levels. Most industries are dominated by a handful of corporations. As we detail in this report, concentrated economic power has reconfigured multiple sectors in ways that have both weakened the broader U.S. economy, by stifling investment…
G.L.I.T.S.
Glits has been led to change systemic and economical oppressions of systemic and financial discrimination not only in NYC but also globally when it comes to our marginal communities, We approach the health and rights crises faced by transgender community…
Green Door Initiative
The Green Door Initiative envisions a world where everyone irrespective of racial background, zip code and income bracket thrive in a healthy environment free from pollution which impacts the air, water, natural resources, and the built environment. Where environmental racism…
Guide to Cooperative Community Lending
This open source manual explores the creation of mission-oriented community lending cooperative and offers an account of the unique organizing and financial model that Salish Sea Cooperative Finance has designed and implemented over the last five years.
Help us expand the Resource Hub
Share resources that you think would be a good addition to this tool and our team will review them for inclusion in future updates.