Transitioning at-risk businesses whose owners are ready to retire--and may be moving up retirement due to the impact of COVID-19 closures--and don’t have the capacity to rebuild--to save the businesses by transitioning them to employee ownership. Before the pandemic there were approximately 6,000 businesses at risk of closing in Southwest Ohio due to their retiring owners’ lack of a viable succession plan. Now that we have been hit with the greatest economic downturn since the Great Depression, the risks to small business have increased exponentially. To increase awareness of the important and little known strategy of selling to the workers during this time of crisis, Co-op Cincy will conduct a comprehensive outreach program.
We are planning to educate the local small business community around this option, during this critical period of time.
We are already in talks with some local business owners who are interested in this solution!
