“Two bills on employee stock ownership plans (ESOPs) have passed without dissent in the Small Business Committees in the House and the Senate,” writes Lee Barney in Plan Sponsor. Both bills, he adds, have bipartisan sponsors.
As NPQ has covered, over two million baby boomer business owners are expected to retire in the next 10-to-15 years and hundreds of thousands of these businesses lack clear succession plans, putting millions of jobs at risk. In many cases, selling businesses to employees is a solid strategy for both sharing the wealth of business ownership while preserving community jobs.
