ESOP’s in the US powering on - Succession Plus

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ESOP’s in the US powering on

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ESOP’s in the US powering on

By , September 17, 2010

The ESOP Association and the Employee Ownership Foundation have just released results of the 2010 ESOP Company Survey. “The data from the survey, which is done every five years, proves the case for more employee ownership,” said Michael Keeling. The key statistics of the 2010 survey are the increase in age of the ESOP and account balances.

In related developments in the US – Senator Sanders promotes a bill that would establish state programs that support the move to employee ownership. A second bill would create a United States Employee Ownership Bank that would lend out money when employees of a business are considering taking over a company from its original owner.

There is an overwhelming wave of support for these plans and closer to home the Australian Employee Buyout Centre is promoting the casue with a series of seminars over the next month that provide valuable information to business owners and their advisers.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.