Need an exit strategy? Consider an ESOP

Description

Abstract: Just like any business, a construction company needs a succession plan, employee benefits and ways to attract and retain motivated workers. Believe it or not, an employee stock ownership plan (ESOP) can accomplish all these objectives in one fell swoop. This article explains how ESOPs work and what advantages they offer. It also notes the downsides to be aware of. A sidebar points out some specific things that construction business owners need to know about ESOPs before establishing one.