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081024 | Jon Shell

Welcome to the Alternative Exit
Today, we’re joined by Jon Shell, a leading advocate for employee ownership and the driving force behind teh successful efforts to introduce Employee Ownership Trusts (EOTs) in Canada.
With a rich background in entrepreneurship, he has transitioned his focus towards policy and finance,
His work has been instrumental in introducing many innovations in the industry from direct investment models for successful employee owned transitions and the establishment of the Employee Ownership Canda and the worlds first Ownership Fund
I’m very excited to dive into his journey and insights on how employee ownership can transform businesses and promote equitable wealth distribution."

Interview Questions:

You had an amazing business career, implementing acquisition strategy among Vet clinics in Canada and Australia. What then drove you to change your focus on and become a advcate for small business and employee ownership?
(This gives Jon an opportunity to share his personal story and what drew him to the field of employee ownership.)
The owner had no one to sell to, we will pay you the going rate. Shut out regular Vets, there was. shift of ownership in that sector.
Capital in the 21st century
Canada recently took a big step by incorporating EOTs into its federal legislation. Can you explain what a Canadian EOT is and how this new model will benefit Canadian business owners and employees?
(Encourages Jon to clarify the EOT structure and its unique benefits for Canadian businesses and communities.)
Trust, owned by the trust. Democratic process
UK. 6% of all transactions
ESOP.
CA
You can still have 40% of the board. It is exit they can control
Preserve a legacy
There has been 50 years of study
Will it be higher than 0%
Stable cash flow
Certain age to be paid out over time
Finance
Pension funds
Patient capitals
Requirement for deal size is high
Democratic process
Companies are all different,
there are employees
2 Buckets
Ownership -
equity - there is virtue in the transfer of wealth
Majority ownership, changes the incentives of owners
Perform better during
culture - does not require ownership
You have played a key role in helping many companies transition to employee ownership, can you please share the story of of your work with Taylor Guitars?
One of the challenges with employee ownership in Canada has been a lack of awareness and education around these models. What do you see as the biggest barriers to adoption, and how can they be overcome?
(This question taps into Jon’s experience with advocacy and education in the space, as highlighted in his work with the ESOP Association​(
⁠
The ESOP Association
⁠
⁠
)​(
⁠
The ESOP Association
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⁠
).)
In your work with Socal Capital Partners you have implemented ‘ownership lens’ to investing through the ownership fund, can you please help us understand the ownership Lens and share what you are trying to achieve with your impact thesis
(Allows for a discussion on the impact of employee ownership on local communities, wealth distribution, and long-term business sustainability.)
The Ownership Fund, Ownership lens, broader accesss to ownership in any form.
Indiegraph
Bookshop.org
You’ve spoken about the importance of learning from the successes and pitfalls of the U.S. and U.K. models. What key lessons should Canada take into account to ensure the success of EOTs?
(Draws on Jon’s comparative analysis of different employee ownership models around the world and how they can inform Canada’s approach​(
⁠
The ESOP Association
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).)
What’s your vision for the future of employee ownership in Canada, and how do you see it evolving over the next decade?
(Encourages Jon to share his aspirations and predictions for the growth and impact of employee ownership in Canada.)
It depends on one thing, the ta
These questions should help create an insightful and forward-looking conversation with Jon Shell, exploring his role in shaping Canada’s employee ownership landscape and the broader implications for business and society.
Fast round
Fast round of questions. I ask you a 3 questions and you offer a quick response. Does that sound ok?
Who is the leader you most admire in EO? Joseph Blasi.
What is your favourite resource on employee ownership? Rutgers does aa
What would you say to an business owner sitting on the fence re: employee ownership.
Find an advisor.

Thank you.

Thank you so much for your time and sharing your thoughts with us today.
Employee-ownership.ca
Where can people follow you if they would like to learn more?

In addition to your work at VEOC, you co-founded the Vermont Real Estate Cooperative to address the housing crisis. Can you tell us more about the vision behind this project and how cooperative ownership models can help tackle housing issues?
(Focuses on his involvement in developing innovative housing solutions through cooperative ownership​(
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Seven Days
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).)
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