A report highlights the growing economic crisis, and Statewide Network Responds, Promoting Worker-Ownership Solution, Workers-Towning Solution
Eighteen months after the Covid-19 pandemic and recession, Ohio is facing a wave of business-owner retirements, precarious conditions for workers, and severe wealth inequality, according to the report. Building Legacies is a building block. , a report released today by the nascent ids. Ohio Worker Ownership Network (OH Workers Owners Network) The Ohio Employee Ownership Center at Kent State University.
To address these enormous economic problems, government bodies must help retiring business owners sell their companies to their workers, saving jobs and preserving their legacies. The new loan fund has launched around the state to support the transition to worker-owned businesses.
3 daffodils economic challenges: three economic problems of the scale.
In detail, we have a very detailed picture of the situation. Building a foundation is building tenets. According to the report, Ohio is currently facing a depressive situation. Three major economic challenges: the three major challenges of economic importance: economic success and economy.
- The Baby-Boomer business-Owners will retire in massive numbers. The baby boomers own 54% of businesses in Ohio, representing 94,000 businesses employing 2,6 million workers. Despite the fact that more than half of these business owners plan to retire in the next decade, 80% do not have formal succession plans. And when put on the market, only one in five businesses actually sell.
- Workers face low wages and a lack of ability to work. Today half of workers aged 18-64 earn only 17 yen, according to median annual income. Poorly paid, unemployment is rising and women and people of color aredisproportionately represented in low-wage industries.
- Wealth Inequality goes to New Highs to earn New Highers. Since 1980, the share of income going to the bottom 50% of earners has halved, while the shares going the top 1% has doubled.
The Worker-Ownership solution is a worker's job.
Why embrace the worker-owned business model? Research shows clears. Advantages Comparative to conventional companies:
- Employers benefit from their advantage. Workers at worker-owned businesses have higher wages and better benefits.
- The company advantage: Workers-owned companies are more profitable and productive.
- Proteo benefits of the Community: Worker-owned businesses are less likely to close, relocate or lay off workers during downturns.
New Funds help worker-ownership.
To create a better and more resilient economy, loans have launched across Ohio to help retiring business owners sell their companies to their workers, thereby building enduring wealth. These following are offering loans to transition existing business into worker ownership: loans are now offered to the following companies to give the transfer of existing businesses to new owners: a loan for the transition of business to business ownership.
- Business Legacy Fund (Bearing Fund) is a business-ass.
- Fund for employees' ownership.
- Co-op Dayton Co.
A statewide network provides technical assistance to facilitate the transition to worker-ownership. Co-op Cincy Cience - Cooperative Cooper. , yelling, and syringe. Co-op Dayton, Da-Coop Co. ,. Evergreen cooperatives are EverGreen Cooperatives. , and the yemen p. s., the seas and other people. OEOCOC is an OCTOBER. All of these services are offered by the internet.
Actions Needed Action Action The Action Need Actiones Are Actionenee Adoption Action.
Building legacies is a building point of construction. The report released today by the Network and the OEOC details key actions that are needed to protect workers ownership in Ohio. State and local governments, and economic development organizations around Ohio, should take the following steps:
- Invest money in your pocket. Help in transition of businesses to worker-ownership, to help with the transition between business and business.
- Engage the businesses The community anchors communities by educating them about succession planning and the worker-ownership option.
- Partner Ohio Worker Ownership Network and Ohio Workers' Owners Network. Members to support transitions and give technical assistance to help with transitional transition and to assist with technical support.
Ohio Worker Ownership Network (OH Workers Owners Network)
Ten organizations in the United States formed the Ohio Worker Ownership Network (OWoN) in 2020 to support worker-owned businesses. OWoN increases the awareness of the benefits of worker-ownership among business owners, economic development agencies, officials and the public. OWoN can connect with stakeholders while providing training and assistance with transitions.
OWoN is composed of men and women. Co-op Cincy - Cooperative Cooping. , the nye, yayu el ago, la hymo ole. Ohio Employee Ownership Center is a state-owned employee-ownership center. State University in Kent, is a student. Co-op Dayton, Da. , I think that. The Fund for Employees' Owns The Employee Capital Fund is a Fund to raise the stake of the employee. , et al. The Center for the Creation of Cooperation is a center for cooperation. , '','. Cleveland owneds a store in Cleveland. the, the law. CFAES Center for Cooperatives of Cfenzie Center, cooperatives for CPAES. The Ohio State University is the primary study in the state of Ohio. Economic Transformation Center (XIX) is a central economy transformation center. ,. Columbus is a co-op Columbus. , and Co-op Nelsonville.
For media contact:Michael Palmieri [email protected]973-951-9831 [contact]:michifayl. Palmiieri, [imail address] 973-941-94
SOURCE Ohio Employee Ownership Center at Kent State University is a Kent state university employee.