On the Menu: Selling Your Business, presented by Segra
Exploring Employee Ownership Options
Employee ownership, an option that many businesses have not considered, can help owners preserve their legacy and potentially receive excellent tax benefits while positioning their businesses to be more resilient and attractive to employees. While selling their business at market value to their employees, business owners can choose to retire or stay engaged with their business. Companies that are employee owned are more productive, with employees that are engaged and have increased household wealth. Selling to employees keeps the business and jobs in the local community. Employee ownership is a strategy that benefits owners, employees and the community.
Participants will walk away with answers to key questions such as:
● Why business owners should consider selling their business at market rates to their employees for retirement, partial exit, diversification, reinvestment into a new business and other reasons
● The three major types of employee ownership
● Ways that employee ownership can attract and retain great employees and increase business resilience
● Next steps in exploring employee ownership as a succession planning tool or to start a new business
In an effort to keep this event accessible, we will be offering a hybrid experience for participants. When checking out, be mindful to select between an “In-Person Ticket” and a “Zoom Ticket.” For those not located in NC, we welcome you to join us over Zoom.
Zoom Link: https://rtp-org.zoom.us/j/82863365134
Game Plan
11:30 a.m. | In-Person | Registration opens & lunch is available
11:50 a.m. | Virtual | Doors to the waiting room open
12:00 p.m. | Event begins
1:00 p.m. | Go on back to work!
Our Session Leader
Illa Burbank
Executive Director, North Carolina Employee Ownership Center (NCEOC)
Illa Burbank’s business career spans over 30 years. Starting as a commercial credit analyst and lender at a regional bank, she then joined Incodema, a start-up sheet metal prototype manufacturing company. There she became CFO and wore many hats in finance, human resources, regulatory and more before being appointed President. During her 21 years with Incodema, the company made one acquisition and spun off a new business segment as its own company. Illa was instrumental in transitioning Incodema Inc. to an Employee Stock Ownership Plan (ESOP) and is very familiar with employee ownership’s power for employee engagement and wealth building. She enjoys working with Cornell University’s accelerator programs to mentor start-ups and small businesses and sits on the board of an ESOP company. Illa earned a BS degree in Finance and an MBA from Ithaca College.
What’s On The Menu?
At Frontier RTP, we are constantly growing, and hope you will come along for the ride! We developed On the Menu as a way of helping you and your business grow to the next level, whatever that next level may be.
Each month, we offer a lunchtime workshop on a special topic related to small businesses or startups. On the Menu is taught by a diverse group of experts from around the Triangle (some of whom started their business here at Frontier RTP!) in a small group setting.
Our hope is that these workshops will not only be rich in content, but spark dialogue, start relationships, and make your lunch break meaningful. Did we mention there will be food? For those joining us in-person, there will be a free lunch available. If you are joining us virtually, we invite you to bring your lunch to the Zoom. No shame in eating with your camera on!
We want you to easily access our events and webinars. Please reach out to us with accommodation requests at programming@rtp.org and we’ll do our best to facilitate.
This month’s Presenting Sponsor is Segra.
Note: By registering and participating in this event, you consent to the recording of your likeness, image, and/or voice and authorize Frontier RTP to use photographs, video, and audio recordings containing your likeness, image, and/or voice in any medium for any purpose.
Location
Frontier 800