There are 2.34 million businesses in the U.S. owned by those born between 1946 and 1964. These businesses employ approximately 24.7 million people, with a payroll of $949 billion and annual sales exceeding $5 trillion.

In Indiana alone, over 42,000 businesses are owned by Baby Boomers, employing more than 500,000 workers, with a payroll of $18 billion and annual sales surpassing $100 billion.

As Boomers retire, their business successions are becoming a critical issue. Without proper succession planning, many businesses could face closures, relocations, or instability, affecting thousands of jobs and local economies throughout Indiana.

One viable solution for these business owners is employee ownership, particularly through worker cooperatives.

Benefits of Employee Ownership:

• A financially rewarding exit strategy with potential tax benefits for the selling owner(s).
• A lasting legacy for the selling owner(s), ensuring the business continues to thrive.
• Rewards for employees who have contributed to the business’s success.
• The potential to improve business performance, increase employee engagement, and boost retention.
• Helps retain services, jobs, wealth, and tax base within the local community.