With small and medium businesses supporting nearly half of the U.S. workforce, local and regional government actors are focused on alternative solutions to fluctuations in the economy—compounded by the effects of COVID-19—in underserved communities which are disproportionately of color (Small Business Trends, 2021). Amid ongoing uncertainty and their budget constraints, local communities and major stakeholders are asking: How can we craft effective and equitable small business recovery plans? This case study examines the potential for employee ownership models to address the racial wealth gap, the types of employee ownership models available to local governments and community stakeholders, the strengths/ weaknesses of each model, and recommendations made by advocates and strategies for implementation.
The Government Alliance on Race and Equity is a national network working to achieve racial equity and advance opportunities for all.
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