The global E-magazine on cooperatives in industry and services
The Canadian Worker Co-op Federation (CWCF) recently published a report alerting owners of small and medium-sized businesses to the advantages of transferring their business to the workers when the owners retire, creating a worker cooperative.
Peter Hough conducted the research and the report is titled “Succession Planning Using the Worker Co-op Option.”
“A business owner is retiring from a small or medium sized business. He or she has
explored the options for succession and has decided to sell the business to his/her
employees and managers. They have made a commitment to own and manage the
business as a worker co-op..” These are the first lines of the document, which clearly illustrate the report’s theme.
The creation of worker cooperatives resulting from retirement by owners of small or medium-sized businesses is an increasingly valued option, especially in more developed countries.
The report documents information, knowledge and strategies related to the process of sale to the workers. It explains how a worker cooperative functions and analyzes the different options available to a business owner who is considering retirement. It also describes the challenges and processes necessary for assuring the continuity and the long-term success of worker cooperatives.
The complete text can be downloaded here.
International Organisation of Industrial, Artisanal and
Service Producers' Cooperatives
Secretariat: C/O European Cooperative House - avenue Milcamps 105
1030 Brussels, Belgium
Tel: +32 2 543 1033, fax: +32 2 543 1037