Baby Boomers are retiring. Here’s what Canada should do to put their businesses in employees’ hands — and build community wealth.
In January, US-based Taylor Guitars transitioned to 100% employee ownership — financed for the first time ever by a Canadian pension plan. Could the ESOP movement move north?
Why It Matters
In the next decade, nearly three quarters of Canadian small business owners will retire – businesses worth over $1.5 trillion. Most will look to sell. In a country where the gap between the rich and poor is widening, and could do so exponentially in the pandemic’s aftermath, experts say this transition provides a huge opportunity to share wealth with workers.
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