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Announcing the
Sixth Annual Employee Ownership Conference
 New topics in this year's conference will include: • social responsibility and the employee-ownership movement; • how to successfully lead an employee-owned company; • balancing short- and long-term rewards in ESOP companies; • how to leverage employee ownership as a marketing tool; and • structuring an employee-owned company for inclusive decision making. Newcomers will find out if employee ownership makes sense for their company and will come away with concrete steps for beginning the transition. They'll learn: • the differences between ESOPs and worker co-operatives, and which one is best suited for their company; • the basics of financing an ESOP; and • understanding business valuations. Current employee-owners will find workshops on: • how to manage their existing ESOP; • coping with growth in worker cooperatives; • ESOP sustainability; • renewing the spirit of employee ownership; and • how a democratic worker cooperative can operate efficiently in a competitive marketplace. Click here for complete conference information.
An excellent way to learn more about employee-owned companies in Vermont, and the work of this Center, is to read our newsletter. To make sure you are on our mailing list, send an email to info@veoc.org with the word “subscribe” in the title or body of the message. The inaugural issue includes a profile of a successful employee-owned company, a legal advice column, a discussion of the role of ESOP committees and other relevant updates. Our February 2008 issue highlights one unique employee owned company, Carris Reels. We will be looking for ideas for articles in future issues, as well as photos, so please contact us with either.
Employee Ownership in the Media Carris Reels, Inc., based in Rutland, recently joined the ranks of 100% employee owned companies in Vermont, which includes such others as King Arthur Flour and Chroma Technology. Their ESOP has been in existence for 12 years, and currently there are over 400 employees enrolled. Read the full story in a Rutland Herald article by clicking here. Bill Carris, former owner and current Chair of the Board (and worker owner) recently joined the Board of the Vermont Employee Ownership Center.
Workshops on Selling to Employees Planning for ownership succession is an extremely important step, but one often avoided by business owners. One approach to such planning – that of selling some or all of the business to the employees – can have significant advantages over selling to an outsider. It can help communities by preserving local ownership, help employees by protecting jobs and providing added retirement resources, and contribute to improved business performance, all while providing the selling owner(s) a market-based price and various tax advantages. There are over 40 employee-owned companies in Vermont, according to the VEOC, including the past two winners of the Deane C. Davis Outstanding Vermont Business Award: Resource Systems Group, Inc. in White River Junction and King Arthur Flour Company in Norwich. Other well-known employee-owned companies in Vermont include Gardeners Supply Company, Pizzagalli Construction, Hallam-ICS, the Trust Company of Vermont, Chroma Technology and Carris Reels. The VEOC offers a variety of workshops on this topic. The discussion typically includes clarifying owners’ goals, an overview of ownership succession options, the pros and cons of different forms of employee ownership, and the key financial and other benefits of this approach. There is no charge to attend, but we do encourage advanced registration by calling us at 861-6611 or email at info@veoc.org. The VEOC also partners with the Vermont Small Business Development Center to present two-hour training workshops entitled, "Planning for the Next Generation of your Business." Click here for more information. “” We are pleased to announce a new service offered by the Vermont Employee Ownership Center (VEOC), designed to:
We follow a multi-step process to assure an individualized result to meet your needs, including:
The Business Assessment for Employee Ownership provides an inexpensive key link between general knowledge obtained from a book or seminar and in-depth legal and/or accounting consultations which can constitute a more significant financial commitment. It is designed to aid you in assessing whether or not you and your business are ready to take that next step. For more information on this program or any of our educational events or any aspect of employee ownership, please contact us at info@veoc.org or 802-861-6611 The Vermont Employee Ownership Center (VEOC) has hired Ursula Jones as its new Marketing and Communications Manager.
Prior to joining VEOC, Jones worked as a marketing and communications consultant for several Vermont organizations. Prior to that, she worked in both editorial and writing capacities at several publishing and communications businesses. She holds a BA in Political Science from the University of Vermont.
“Ursula comes to VEOC with a variety of skills to help us promote our mission,” says VEOC Executive Director Jon Crystal. “We welcome this important addition to our staff, and look forward to increased and improved abilities as a result.”
Jones will be responsible for all PR and marketing efforts, conference planning and promotion, newsletter production, and website management. This project is funded by a grant from the U.S. Small Business Administration (SBA). SBA’s funding should not be construed as an endorsement of any products, opinions, or services. All SBA-funded projects are extended to the public on a nondiscriminatory basis.
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