Exit planning is a major part of owning a business. And for many business owners, creating a plan that helps them do good by rewarding the employees that have helped them become successful is incredibly attractive.
Today, John and Michael Parise welcome Rick Jaye of Business Transition Advisors to explore the world of ESOPs. Rick breaks down all the benefits ESOPs can bring to a business and how they can be used to benefit not only a business but also its employees.
In this episode, you will learn:
- What an ESOP is
- How ESOPs compare to three other business exit strategies
- Why ESOPs are so valuable for employers
- The importance of a business’ cash flow when considering an ESOP
- The unique tax benefits ESOPs offer
- And more!
Join John, Michael, and Rick now and consider whether an ESOP is a suitable option for you and your business!