Jun 8, 2020
Josh & Jay welcome Will Steih, Managing Director of Prime Capital Investment Advisor’s Tennessee office, to the studio for the 5th and final chapter of our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Employee Stock Ownership Plans (ESOPs). Why should a business owner consider offering ownership in their company to its employees? What are the typically criteria needed for a successful ESOP? What are the some of the benefits of an employee owned business? Listen in to hear important concepts & solutions to consider!
Key Takeaways:
> One of the potential benefits of an ESOP is increased productivity of the employee-owners and profitability of the business.
>
The primary business owner can potentially sell company stock in a
tax-free manner to the employees and there are potential tax
savings related to lack of income taxes paid at the corporate level
with an ESOP.
> An ESOP provides employees the
ability to take an ownership mentality to the next level and
participate in company’s growth over a long period of time. It also
allows an owner to that would like to avoid selling to a competitor
the ability to execute an succession plan.
> As companies like Publix & UPS
have demonstrated, an ESOP represents the full cycle of the
American Dream, giving employees the opportunity to have an
ownership stake in the business that writes the
paycheck.
Show Links:
> https://everydollarcounts.libsyn.com/
> https://www.deepfriedstudios.com/
> https://www.slothracerband.com/
Resources
Prime Capital Investment Advisors
Qualified Plan Advisors
If any of these topics apply to your situation, we can help! Reach out to us at 251-327-2124, or email jnull@gulfcoastfa.com.