Series - SCP Small Business Impact

New bill on employee ownership trusts welcomed by Canadian businesses

Author Tony Zerucha
The model is a tool in succession planning as Boomers find their children may not want the family business

Why It Matters

The changing Canadian business climate can arguably be felt most in its small communities, where the fate of a few key employers can determine the health of an entire region. Some businesses are looking at employee ownership trusts if there are no local buyers.

The Canadian government has introduced a way to make it easier to turn the family-run business into an employee-run business โ€“ and itโ€™s a welcome change, say advocates. โ€œItโ€™s a different wealth-building model, but it lifts everybody and creates good economic opportunities,โ€ said Arnold Strub, executive director of Employee Ownership Canada, which advocates and educates private businesses on employee ownership.

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