Employee Ownership Trusts now law, make it easier for Canadian business owners to share wealth with employees

New laws hope to encourage more retiring business owners to sell their business to their employees through Employee Ownership Trusts

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. 

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