Where Employee Ownership Meets Economic Development: A Conversation with Michael Darger

About this episode

Michael Darger discusses the importance of business succession planning and the role of economic developers in preserving locally owned businesses.

SUMMARY: In this episode of Owners at Work, we talk with Michael Darger, an economic development specialist with the University of Minnesota Extension, about business succession planning, ownership transition, and the growing importance of preserving locally owned businesses as Baby Boomer owners retire. Michael discusses the critical role economic developers can play in helping communities retain businesses, support ownership transitions, and build long-term local wealth. We also explore findings from the Minnesota Business Succession and Transition Study, including why many owners delay succession planning despite recognizing its importance, the role of advisory networks in successful transitions, and the barriers that continue to slow employee ownership adoption. QUEST INFO: LinkedIn: https://www.linkedin.com/in/michaeldarger/ Email: darger@umn.edu Website: https://extension.umn.edu/economic-development/supporting-business-succession-and-transition OTHER RESOURCES: Read the 2023 Business Transitions Study: https://z.umn.edu/bstresearch Read other work by Michael and the U of M Extension: https://sites.google.com/a/umn.edu/michaeldarger SUPPORT THE SHOW: We make all episodes of…

People in this episode

Host: Ohio Employee Ownership Center

Guest: Michael Darger

Topics covered

• employee ownership
• economic development
• business succession planning
• ownership transition
• local businesses
• Baby Boomer retirement
• community wealth

Keywords

• employee ownership
• business succession
• economic development
• local wealth
• Baby Boomer retirement
• ownership transition
• advisory networks

Mentioned in this episode

Organizations: University of Minnesota Extension, Minnesota Business Succession and Transition Study

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