Description: The Corona virus is just one of the things shaping the economy. Another factor is the sale of businesses by older entrepreneurs as they transition towards retirement. Jon Shell, a co-founder of SaveSmallBusiness.ca, argues that Canada should join Britain and the United States to create employee ownership trusts, a strategy to transfer businesses to employees and keep them in the communities they did so well in for so many years.
Date: November 12, 2020
1) Were you familiar with the concept of employee ownership trusts?
2) What do you think our nation could do to encourage ongoing local ownership of companies?
3) Chapter 11 in Wiley’s Financial Accounting: Tools for Business Decision-Making begins with the story of the Leon family and how the company transitioned following the death of its founder. Do a bit of online reseaerch to determine whether or not the Leon family is still involved in the ownership today.