Workshop on Business Succession and Employee Ownership

Workshop on Business Succession and Employee Ownership
Coming to Rutland on December 1st

Burlington, Vermont (October 14, 2009) — The Vermont Employee Ownership Center (VEOC) is offering a
free workshop entitled ―Selling to the Employees: Employee Ownership as a Path for Business Succession on
December 1st from 2:00 to 4:30 pm at the Heritage Family Credit Union, 50 West Street in Rutland.

Planning for ownership succession is an extremely important step, but one often avoided by business
owners. One approach to such planning – that of selling some or all of the business to the employees – can have
significant advantages over selling to an outsider. It can help communities by preserving local ownership, help
employees by protecting jobs and providing added retirement resources, and contribute to improved business
performance, all while providing selling owners a market-based price, and a means of diversifying their assets
without necessarily selling the entire business.

The workshop will include a brief overview of ownership succession options and will focus on the pros and cons
of different forms of employee ownership and the key financial and organizational benefits of this approach.
Joining the VEOC will be Bill Carris, Vermont State Senator and former owner of Carris Reels, a Rutland-based
manufacturing company that became 100% employee-owned in 2008. Carris will explain why he decided to sell
his family business to the employees, the steps involved in the process, and how the new ownership structure
has affected the company, the employees, and the community at large.

The workshop is co-sponsored by the Vermont Small Business Development Center and the Rutland Economic
Development Corporation. There is no registration fee, but advance registration is required. Attendees may
register online at www.veoc.org, by phone at 802-861-6611, or by email at info@veoc.org. Refreshments will
be served.