New Cleveland Fund Will Acquire Businesses and Sell Them Back to Workers
The Fund for Employee Ownership, funded by the Democracy Collaborative, is jumpstarting employee ownership for employees of the Evergreen Cooperative.
Typically it can take many months, even a year or more, to train employees before they’re prepared to purchase a business from its existing owner. The Fund offers to buy-out owners when they’re ready to sell or retire, and then get to the hard work of converting to employee ownership.
“We’re excited about the opportunity to accelerate that process of developing more employee-owners,” Rose says.