Employee Ownership Trusts now law, make it easier for Canadian business owners to share wealth with employees
Why It Matters
When outside interests take over a small or medium business, manager positions are usually the first to be cut, removing large salaries from communities. Often, the business is purchased then closed, leaving holes in the community. Employee Ownership Trusts help businesses stay in local communities when a business has no successor, and contribute to employee retention and financial wealth.
Two new federal bills have passed making it easier for business owners to create Employee Ownership Trusts and share their wealth with employees.ย
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