Worker-Owned Co-ops Could Save Businesses and Jobs
by Democracy Collaborative on Jul 30, 2014 | Views: 262 | Score: 2
| Family-owned Businesses that Survive to the Next Generation | 30 |
|---|---|
| Family-owned Businesses that Don't Survive to the Next Generation | 70 |
Sources:
community-wealth.org
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When the Seiles decided to retire last year, they sold their businesses to employees. Only 30% of family-owned businesses, like the Seile’s, survive to the next generation. When they are closed or sold to outside investors, communities lose wealth. To keep wealth rooted in their community, the Seiles worked to convert their businesses to a worker-owned cooperative.