CLEVELAND -- At the start of the COVID-19 pandemic, more than 30% of Ohio small businesses were forced to close. It has been a slow recovery since then. Nearly two-thirds of small businesses are still lagging on revenue and owners across sectors list employee retention and hiring as a top challenge.
It’s no wonder that I’ve heard from countless business owners who are burnt out after navigating the last few years. Many had hoped to retire years ago, but stayed during the pandemic to help keep their business going and support the employees and communities that depend on them. Now they’re ready to see what’s next—and increasingly are looking at employee ownership as the best step for them.