ImpactAlpha Podcasts [Briefing] How Project Equity is turning employees into owners by surfing the 'silver tsunami'
Feb 17, 2023
Alison Lingane, co-founder of Project Equity, discusses the rising trend of employee ownership as a pathway to economic equity. She highlights how this model empowers workers, especially as the baby boomer generation retires. The conversation delves into the role of innovative financing solutions in supporting businesses transitioning to employee ownership and the impact of California's new initiatives. Lingane emphasizes that employee ownership not only enhances job quality but also promotes stability in communities, making wealth-building accessible for all.
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Silver Tsunami in Business Ownership
- Half of the privately held US businesses with employees are owned by baby boomers aged 55 or older.
- This creates a large wave of retiring owners, increasing the number of businesses on the market.
Employee Ownership Retains Local Economy
- Selling businesses to employees solves the retirement wave challenge while retaining local jobs and assets.
- Competitors buying these businesses often lead to layoffs and relocation, harming communities.
Alison's Journey to Employee Ownership
- Alison Lingane discovered employee ownership randomly after questioning traditional poverty-cycle solutions.
- She realized employee ownership creates quality jobs with wealth-building, professional growth, and community impact.