NENA & NEBA Lunchtime Learning – Planning for the Future of Your Business

On March 2, 2021, your local business and neighborhood associations hosted a Lunchtime Learning with Christina Nicholson, Program Manager at Nexus Community Partners. Spend an hour with us to learn about the newest program at Nexus – Worker Ownership Initiative (WOI).

Recording Link

The Nexus program helps business owners with succession planning. Our team specializes in exploring the benefits of employee-owned business models for restructuring or as an exit strategy.

There are many benefits when selling to employees.

  1. A potential buyer is already onsite
    2. No brokers fees
    3. With Nexus’s CDFI lending partners, financing is available for a fair sale price
    4. There are tax benefits via the Mainstreet Employee Ownership Act
    5. A controlled transition can be laid out, allowing a range of timelines and involvement for the existing owner
    6. Selling to employees maintains the legacy of the business

The WOI team provides a full suite of services to support a streamlined transition process. We work with the existing owner to structure the deal and provide support to the employees up to 2 years after transition.

Link to WOI Program Information.

Nexus Contact: Christina Nicholson, Program Manager, at cnicholson@nexuscp.org 

Nexus Community Partners is a Twin Cities nonprofit supporting strong, equitable and just communities in which all residents are engaged, are recognized as leaders and have pathways to opportunities. The key to building more engaged and powerful communities of color lies in the dynamic relationship between authorship, leadership and ownership.

Cohosts:
Longfellow Community Council
Nokomis East Business Association
Nokomis East Neighborhood Association
Standish Ericsson Neighborhood Association
West of the Rail Business Association

 

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