Retiring US business owners increasingly sell to their staff
As baby‑boomers retire, a growing number of US firms are being sold to employees via ESOPs or Employee Ownership Trusts, with examples like Softstar Shoes; studies estimate up to about 600 such transitions annually as financing expands and government programs encourage the move. Employee‑owned companies often show higher productivity and wages, and owners aim to preserve local jobs, but setting up these arrangements is complex, can take years, and requires patience as payments are made.