Journey to an ESOP & Beyond cover image

Journey to an ESOP & Beyond

EP6 - ESOPs for Contractors discussion with Ben Wells - ESOP attorney Cincinnati, OH

Feb 25, 2021
ESOP attorney Ben Wells discusses the benefits of ESOPs for contractors, including structuring deals, assessing flexibility and profitability, and transitioning leadership in a company. The podcast explores the national reach of ESOP practice and the importance of involving stakeholders early on.
45:37

Episode guests

Ben Wells

Podcast summary created with Snipd AI

Quick takeaways

  • ESOPs are essential for contractor succession and exit plans, offering a transition device for ownership transfer.
  • Contractors can benefit from ESOPs if they have stable history and address financing, bonding, and indemnity complexities.

Deep dives

Understanding ESOPs and Employee Ownership

ESOPs, or Employee Stock Ownership Plans, are highlighted in the podcast as crucial tools for business succession and exit plans. The episode discusses how ESOPs offer a transition device for business ownership, emphasizing the benefits they bring to business owners looking to transfer ownership or diversify assets. The experienced ESOP attorney guest, Ben Wells, shares insights on his extensive career working with ESOP companies and financial institutions, underlining the growing attractiveness and benefits of ESOPs over time.

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