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Retiring entrepreneurs have various alternatives for transfer of their businesses: family succession, which is frequently not successful long term, sale to an outside party, which can result in termination of those employed at the time of sale, or dissolution, are the most common. This article explores options for current employees to assume businesses through cooperative models that retain local ownership and jobs, and thereby promote neighborhood stability.
Minority-owned firms have been on the rise for the last decades, but face many challenges. This article documents the trends in business dynamics and financing and argue for policies to increase access to resources and financial inclusion that would strengthen the minority small business sector.
The authors share what they heard about economic inclusion from focus group participants in more than a dozen smaller, Midwestern cities. Key themes were removing barriers to employment; collaborating across organizations and systems; and the importance of representation and power in advancing inclusive policies and practices.