As a Business Owner

What will be your legacy?

The Michigan Center for Employee Ownership serves as the central hub for information and resources around employee ownership in Michigan.

Two employees work together at computer

Why is this a key moment for employee ownership in MI?

Employee ownership is a business model in which employees collectively own a percentage of the business for which they work. Two of the main forms are Employee Stock Ownership Plans (ESOPs) and worker cooperatives. In both, employees are given a financial stake in the business. As the business prospers, employees prosper.

  • Over the next 10 years, more than 4 million U.S. businesses owned by retiring baby boomers will change hands or dissolve
  • More than half of all small business owners do not have a succession plan
  • Many businesses will be sold and leave the state of MI, or close their doors permanently, resulting in lost jobs, tax base, and community impacts

Why consider employee ownership?

  • It is an ownership succession plan that preserves jobs and community impacts, while giving the selling shareholders preferred tax treatment
  • It is a proven strategy for employee recruitment and retention
  • When employees have a stake in the company’s success, everyone benefits
employees working together in meeting room

How can the Michigan Center for Employee Ownership help?

  • The MICEO’s mission is to educate business owners and their advisors (lawyers, bankers, accountants, wealth advisors) on the benefits of employee ownership via Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs). MICEO provides resources, case studies and articles, and a list of service providers who can assist with employee ownership transitions. MICEO serves the entire state of Michigan.
man in mask works in welding workshop

Business Succession Planning

Get our free guide to Business Succession Planning and secure your company's future after your exit. Learn exit planning strategies and gain the knowledge and skills to prepare your business for a successful transition.