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Training and education for Employee Buy Outs

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. Who is this Sataosaajat. Satakunta Cooperative Development Agency, est. 1995, 100 % privately owned cooperative

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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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