An Employee Stock Ownership Plan as a Succession Tool

For business owners, employee stock ownership plans (ESOPs) are an appealing alternative to selling a business using a management buyout or outright sale. With current favorable tax laws and numerous benefits for stakeholders, business owners looking to transition ownership may want to take a look at ESOPs. In this article, find out how ESOP transactions work, which companies they are most suited for, and the main benefits for the seller, the company, and its employees.