43: Debunking ESOP Myths | Kristy Britsch

When it comes to transitioning your closely held company, it’s great to have options. You’ve probably heard about strategic acquisitions - like Facebook buying Instagram - or financial buyers like private equity firms acquiring companies. Have you heard about ESOPs, employee stock ownership plans? An ESOP allows employees the opportunity to buy stock in a closely held company to facilitate succession planning. Currently, there are around 7,000 ESOP plans in the U.S. with estimates that 28 million employees now control about 8% of corporate equity through an ESOP.  Kristy Britsch, senior counsel at Levenfeld Pearlstein advises closely held businesses on ESOPs and helps navigate transactions and legal aspects that can arise during its life cycle. Being part of an ESOP can provide numerous benefits to employees and the company. There are, however, several myths regarding ESOP ownership, preventing exploration of this compelling option. Listen in to Laurie's conversation with Kristy to learn what an ESOP is (and isn't) and how your company shareholders might benefit. Show links: Kristy Britsch: linkedin.com/in/kristybritsch Website:  lplegal.com Subscribe to get all of the latest episodes. Please show your support with a rating and review! To connect with host, Laurie Barkman, visit https://www.smalldotbig.com/contact