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Training and education for Employee Buy Outs

This case study explores the training and education efforts by Sataosaajat Co-operative in promoting Employee Buyouts (EBO) as a business succession solution. With a focus on raising awareness of EBO options, the initiative aims to establish links with trade unions and enhance the business skills of potential employee owners. The cooperative, established in 1995, has been actively involved in over 10 ESF projects related to employee-owned enterprises. Additionally, the training program addresses the issue of retiring business owners and the importance of succession planning. Although EBO consultants in Finland are limited, the training strives to provide basic education on the necessity and significance of EBO, guiding business owners on initiating or seeking assistance for a successful buyout process.

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Training and education for Employee Buy Outs

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  1. Training and education for Employee Buy Outs • CASE: Finland • Erkki K Kangas, Sataosaajat Co-operative • Fifth European Meeting Of Employee Ownership • Brussels 16, 17, 18 June 2005

  2. Who is this Sataosaajat • Satakunta Cooperative Development Agency, est. 1995, 100 % privately owned cooperative • David Tittle talked about Employee Buy Outs in Kokkola 1996, started working on EBO 1998 • Have led or participated in over 10 ESF projects on Employee owned enterprises • Employee Buy Out as Business Succession Solution -project

  3. Employee Ownership • About 50 Personnel Funds, only few focus in employers stock • Not many Employee Owned Companies but the number is slowly crowing • Many result of Outsourcing, Phoenix or Rescue Buy Outs • Currently work on promoting EBO in SME’s as Business Succession Solution

  4. Employee Training • Raising awareness of EBO option, mostly in Business Succession situations • Building links to Trade Unions • Late 1990’s Cooperative Training for unemployed • Training is available but a bit hard to find • Focus on Business Skills, not Employee Ownership

  5. Business Owners • Focus on Business Succession • 10 000 owners retiring every year • 20 % find Successor in the Family • Business Succession Planning seminars • Federation of Finnish Enterprises • Web-site, books, press

  6. Business Advisors • Well aware of the Succession Problem • About 25 publicly funded Agencies focused on Succession Planning • Less than 10 EBO Consultants in the country • Basic education on why EBO is necessary and important • Basic training about how to close a EBO or at least, where to find help

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