Coactive Developments Worker Cooperative

Due to the increasing numbers of retiring business owners and the lack of succession plans in place, there is a serious possibility of large-scale small and medium-sized business (SME) closures. Some owners seek to transfer the business to family while others look to sell privately, however, there is a third little-known option known as business conversions to cooperatives (BCCs). The CoopConvert project surveyed Canadian SME business owners and determined the majority are not positioned for succession planning. This lack of preparation combined with the unfamiliar cooperative model provides a tremendous opportunity for BCCs. CoActive aims to promote and support the creation of more Employee-Owned businesses in B.C. We know that broad-based employee ownership leads to stronger and fairer economies. Employee-owned companies have been proven to keep jobs in local communities at a higher rate, are much less likely to default on their debt, and are more resilient in economic downturns.