Some 24 million United States workers could be affected by the coming “silver tsunami,” which refers to business owners of the baby boomer generation retiring without a succession plan for their businesses.
Co-op Cincy's Business Legacy Fund is designed to help business owners transition their companies to employee ownership by essentially loaning employees the money they need to buy the business. Profits then help employees pay off the loans over time.
Fund aims to boost the number of local minority-owned businesses wcpo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wcpo.com Daily Mail and Mail on Sunday newspapers.