CEDC organized another Business Expansion and Retention (BEAR) lunch and learn hosted by our strategic partner Chippewa Valley Technical College (CVTC). These BEAR lunch and learns offer our local companies the advantages of networking and connecting with other businesses and community members while providing them access to valuable information and resources. Local companies can not underestimate the potential for business growth that they can get through learning and collaboration. Our BEAR lunch event programs are designed for professional development, knowledge sharing, team building, and connecting while also discussing important topics that impact business growth.
The topic of this most recent lunch event was understanding ESOP, or Employee Stock Ownership Plan. CEDC utilized Business Consultant Matt Middendorp of ESOP Partners to lead the discussion. ESOP is a retirement plan where a company contributes its stock to the plan for the benefit of the company’s employees. Some advantages of ESOPs include providing employees with a stake in the company, incentivizing productivity and loyalty, enabling tax benefits for both the company and employees, and facilitating succession planning for business owners.
“There are a lot of misconceptions surrounding ESOP, so it’s always fun when I get an opportunity to educate and spread real, quality information to business owners and these CEDC Business Expansion And Retention (BEAR) lunch and learns are a great platform to do that.” Expressed Matt Middendorp.
The lunch covered the topics of 1. The Nuts And Bolts: What is an ESOP and how do they work? 2. Strategic Impact: How an ESOP can be a win-win transition strategy for you, your business, your employees, and your community. 3. The Three Stage Path: Navigate the 3 critical stages of ESOP exploration and the profound mindset shifts they bring. And 4. Problem-Solving Solutions: Learn the most challenges encountered when considering an ESOP for your business, and how to solve them before they happen.
If you missed this event and would like to learn more contact the CEDC office and we will set you up with a one-on-one free discussion with Matt.