Community Wealth Building Through Employee Ownership

Since 2016, IMPACT Silver Spring has promoted worker-owned businesses as a pathway to economic empowerment and wealth-building in our community. Through initiatives like the Local Economy Activator, IMPACT has brought together grassroots entrepreneurs, local buyers, and micro-enterprise resource providers to foster a thriving local economy rooted in collective ownership and mutual support.

According to recent research, 56% of businesses in Montgomery County are owned by individuals at or near retirement age. This number represents 11,144 local businesses, accounting for $31 billion dollars in revenue and 141,000 local jobs. Without an exit plan, these local businesses and jobs are at risk.

In the summer of 2025, IMPACT, in partnership with Project Equity, a national leader in the movement to expand employee ownership, will be hosting a worker cooperative Jumpstart workshop for business owners to provide an introduction, educate and create a pathway to transitioning to Employee Ownership (EO). This new area of focus aligns with our commitment to fostering inclusive economic practices that empower all members of our community to build wealth and thrive.

Employee ownership is a proven business structure in which a broad base of employees own the business where they work. Employee-owners build assets through profit sharing, retirement savings, and/or shared business ownership. Studies have shown that employee-owners have higher median wages than their peers, were five or more times less likely to be laid off during the Great Recession, and that employee-owners of color have substantially more wealth than their peers nationwide.

In order to be eligible for a transition to employee ownership through IMPACT, a business must:

1. Have been in operation for more than 20 years.
2. Have at least 10 employees.
3. Not owe any outstanding debt.
4. Be in good financial standing.

If you are a business owner interested in learning more about employee ownership and participating in the Jumpstart workshop, please fill out this interest form.