An Open Letter From Jack

It’s an exciting time in the world of employee ownership. Newly enacted, bipartisan legislation and growing recognition of the benefits employee ownership can offer business owners, companies, and employees are bringing ESOPs greater attention and elevating their prominence in the broader business community.

When the circumstances are right, I believe the successful ESOP is one of the finest examples of democratic capitalism in America. Legislators created enormous incentives in the tax code to help perpetuate this unique ownership structure. Business owners and their advisors are noticing.

And it might be the best “win win win” deal around. Sellers, businesses and employees all benefiting from Congress’ efforts to help democratize capitalism. The recent legislation had record bipartisan support. There are a lot of good reasons why.

My role is to get the word out. To demystify a complicated concept. And to help business owners and advisors answer a simple but critical question: Should we seriously consider an ESOP as an option? I can help you answer that question.

As a first-generation American, I firmly support the opportunity for people to build a better future through their hard work building a better business. ESOPs can help employees build meaningful financial assets and participate in the success of the businesses they help create. The research data firmly support that promise.

In 1645, John Eliot, the founder of my high school, established it to prepare students for service “both in Churche and Commonwealthe”. Commonwealth: the common wellbeing, the prosperity we build together. That purpose and goal has stuck with me. ESOPs can help preserve remarkable business legacies while building a broader common wealth—giving employees a meaningful stake in the success they help create while potentially allowing owners to realize more of the value of the wealth they have built.

That’s why I founded Old Harbor Advisors.

If you’re a business owner thinking about your company’s future, or an advisor helping a client navigate succession, I invite you to start a conversation.

Jack O’Loughlin