Alternative Exit
Alternative Exit is a dedicated to educating small business owners about the possibilities, benefits, and challenges of transitioning to an employee ownership model.
There are over 200m SMEs with an owner who will be retiring in the next 10 years, many of which will never find a buyer for their business, forcing them to close their doors.
There is an alternative. This show will explore various the different forms of employee ownership and best practices for successful transitions.
Each episode features interviews with experts in employee ownership, business owners who have made the transition, and consultants who facilitate these changes.
Alternative Exit
Alternative Exit #21 | Scaling Employee Ownership, One State at a Time
Episode Summary:
For today's episode of The Alternative Exit Podcast, I'm joined by Steve Storkan, Executive Director of the Employee Ownership Expansion Network (EOX). With over 25 years of experience in the employee ownership space, Steve has helped shape how businesses and communities embrace ownership models like ESOPs and Employee Ownership Trusts across the U.S.
We dive into the cultural and emotional side of employee ownership, the growing network of state centers EOX is building, and what it takes to make ownership more mainstream in America. Steve also shares some of the biggest misconceptions about employee ownership and why capital access and education remain two of the biggest hurdles. Whether you're a business owner considering your next move or someone passionate about inclusive growth, this conversation is packed with perspective and purpose.
Key Takeaways:
- How Steve’s experience in the Marine Corps led to a surprising path into employee ownership
- The emotional connection and cultural power of ESOPs
- Why financial literacy is critical to employee engagement
- The role third-party administrators play in bridging education gaps
- Common misconceptions that make ESOPs hard to explain—and how to fix that
- How EOX is scaling state-by-state to increase national awareness
- Why employee ownership is a retention tool, and not (yet) a recruitment tool
- The challenge of capital access—and how philanthropy and impact funds are changing that
- The rise of ESOP-led acquisitions to grow ownership across sectors
- What’s next for the employee ownership movement
About Steve Storkan
Steve Storkan is the Executive Director of the Employee Ownership Expansion Network (EOX), a national nonprofit on a mission to grow employee ownership across the United States by supporting the development of state centers. Since joining EOX in 2019, Steve has helped expand the network from 8 to 24 state centers and continues to advocate for inclusive business models that benefit both owners and employees.
Connect with Steve Storkan
Email: info@eoxnetwork.org
LinkedIn: Steve Storkan
Website: https://eoxnetwork.org
Connect with Andy Farquharson:
LinkedIn - https://www.linkedin.com/in/andyfarquharson/
Instagram - https://www.instagram.com/andyfarq
Website - https://abettermonday.me/
Email - andy@bettermonday.me