When it comes to exit plans, ESOPs are often overlooked. Yet Larry Ryan, founder and chairman of Ryan Lawn & Tree, made the bold decision to sell the company to his employees just 11 years after its founding. He wanted to grow the business to $100 million by 2030 by creating a team of long-term, […] The post How an ESOP Can Facilitate a Business Transition and Drive Growth appeared first on The Edge from the National Association of Landscape Professionals.| The Edge from the National Association of Landscape Professionals
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This article is the latest installment of QuickRead articles on ESOP regulations. Specifically, it focuses on the request, and status thereof, for the Department of Labor to clarify “adequate consideration” for the valuation of entities held in ESOPs.| QuickRead | News for the Financial Consulting Professional
For purposes of valuing an ESOP, the question of what is “adequate consideration” has vexed the author and other BV practitioners. In this article, the author shares an update on the DOL’s response to earlier inquiries. Her two previous articles published in QuickRead detailed the earlier efforts to clarify what constituted “adequate consideration” for the valuation of entities held in ESOPs. On October 25, 2024, the OMB received a proposal on the topic from the DOL intended to clar...| QuickRead | News for the Financial Consulting Professional
When John Ende joined Great Lakes Dental, he helped implement changes that showed employees what the company values looked like in action.| Tugboat Institute
Here, we’ve outlined some of the ESOP pros and cons your company should consider if you’re exploring whether this type of plan is right for your organization.| Warren Averett CPAs & Advisors
Inspired by other employee share owned plan companies, Wogamott and Zink began offering profit sharing in the early 1990s. They set aside 10% of profits to provide as cash bonuses to employees, Siggins said. “They discovered it was motivating and created more of an ownership mindset among employees,” she said. “Employees began to more frequently think critically about the company and ask: ‘How can we do this better and do things more efficiently? How can we spend our money more wisely...| Becoming Employee Owned