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Founder-owners of closely held businesses are entrepreneurs. They have overcome gnawing doubt and anxiety to build successful, cash flow positive companies. Entrepreneurs take risks. They are hardworking, resilient, tenacious, and have an abundance of grit. When it comes time to step away from the business, one question that is often overlooked in the transition shuffle is who will replace that founder’s energy…continue
Transitioning out of a closely held business presents many challenges to a founder-owner. It is very difficult to objectively view a family business as an asset when—over the years—it has become more a way of life than anything else. Owners of closely held businesses have poured so much of themselves and their energy into building the business that emotion and other factors can hinder the succession planning timeline… continue
For much of its life, the employee ownership movement has focused on enhancing federal law and tax benefits to incentivize business owners to share ownership with their employees either as a tax-favored incentive system or a form of profit sharing or, in its most far-reaching sense, as a business succession strategy…continue
Like many companies, the recession of 2009 hit Braun Intertec hard. While the Minneapolis-based firm, which offers geotechnical engineering, environmental consulting, and testing services, had grown substantially since Jack Braun founded it in 1957, annual revenues were down to $39 million in 2009 from a high of $45 million a few years earlier. They weren’t alone. …continue
If you’re running a middle market company these days, you’re acutely aware of twin economic forces working against your success: first, there’s a worldwide slowdown in productivity growth pinching margins and, indeed, dampening the entire economy; second, labor markets have tightened dramatically, and all companies are struggling to hang onto their better workers and to attract good-quality new employees.…continue
The Beyster Institute will present its fifth annual Certificate Program for Non-Professional ESOP Fiduciaries course this winter – Feb. 19-22, 2017 at the Rady School of Management. The class is an intensive education program and part of the Institute’s comprehensive program of employee-ownership governance education: the Governance Curriculum for Employee-Ownership Companies.…continue