Tennessee Center for Employee Ownership (TNCEO)

About Tennessee Center for Employee Ownership (TNCEO)

The Tennessee Center for Employee Ownership (TNCEO) is a nonprofit organization whose mission is to improve the economic lives of workers in the state of Tennessee by educating business owners, their advisors, local government, and other community stakeholders about the social impact and business benefits of employee ownership. Employee ownership is many things. For selling owners, it is a powerful way to establish the legacy of their business and keep their workers employed in the community where the business is located. Multiple research studies have shown that most companies that become employee-owned see higher revenue and profits after the transition to employee ownership and certain tax advantages can allow a business owner to receive a competitive return on the sale of their business. For workers, employee ownership can help build wealth and retirement savings. It can also foster employee engagement and a spirit of shared stewardship in their company, especially when combined with participatory management systems and financial education. The main challenge with creating more employee owned companies is simple awareness. According to the Exit Planning Institute, only 30% of companies have a written succession plan, and only 6% consider employee ownership as part of that plan. We believe that entrepreneurs, workers, and communities across the state of Tennessee will benefit from learning about employee ownership. To help with this education we will schedule free workshops with anyone who wants to learn more about the how and why of a transition to an employee owned business model. You can also contact us directly for a free consultation and assessment. We are a proud member of the Employee Ownership Expansion Network: https://www.eoxnetwork.org/.