March 2026 Newsletter | 1st Edition

Exciting developments from the Massachusetts Center for Employee Ownership (MassCEO)! A new pilot stipend program is launching to help more businesses explore employee ownership by offsetting feasibility study and valuation costs. By reducing financial barriers, this initiative expands access to ESOPs and cooperatives, strengthens succession planning, and supports resilient local economies and shared prosperity. For more insight, see Kevin Kuros' post.

MICEO UPDATE

ATTN: UPPER PENINSULA BUSINESS OWNERS

Many rural communities are facing economic challenges as aging business owners approach retirement without clear succession plans. To help rural Michigan businesses remain rooted in their communities, MICEO is supporting business owners in the Upper Peninsula as they explore employee ownership as a transition option. 

This project, which is being conducted with support from a USDA Rural Business Development Grant, is focused on preserving jobs and stabilizing local economies. The goal is to identify challenges and opportunities, provide guidance on structuring an employee ownership plan, and support owners through the transition process. 

If you are considering retirement or stepping back from your business, please complete this short form to let us know more about you and your business. We can help you evaluate employee ownership and chart a clear path toward a successful transition. Let’s start something! Apply Here

RURAL BUSINESS OWNERY SURVEY

If you own or operate a rural business in one of the 14 counties MICEO serves in the NE Lower Peninsula counties, we want to hear from YOU. MICEO is gathering direct input from rural entrepreneurs, small business owners, and family-owned businesses to better understand your needs, challenges, and long-term goals—especially around business sustainability, workforce retention, and succession planning.

Counties we are targeting include: Cheboygan, Presque Isle, Otsego, Montmorency, Alpena, Crawford, Oscoda, Alcona, Roscommon, Ogemaw, and Iosco; Northwest Lower Peninsula including Emmit, Antrim, and Charlevoix.

Your responses to our Rural Business Owners Survey will help shape future rural business support programs, funding opportunities, technical assistance, and ownership transition resources designed specifically for rural communities.

Strong rural economies start with informed action—and that starts with you. Fill out the Rural Business Owners Survey HERE.

FOCUS ON MICHIGAN

MCNAUGHTON-MCKAY ELECTRIC COMPANY

McNaughton-McKay Electric Company is a 100% employee owned wholesale electrical distributor based in Madison Heights, MI. McNaughton-McKay has been powering industry since 1910, including industrial, commercial, and institutional customers – from automation and control systems to power distribution and electrical components.

With a full line of products ranging from pipe and wire to complex automation control systems, McNaughton-McKay serves everyone from small electrical contractors to large-scale manufacturers. As an employee-owned company, every team member has a stake in the company’s success — driving accountability, strengthening customer partnerships, and reinforcing a long-term commitment to Michigan’s manufacturing and industrial communities. 

Learn more at: https://www.mc-mc.com/

EMPLOYEE OWNERSHIP RESOURCES

LEARN MORE ABOUT EO

How ESOPs Grow: Strategies to Build Value Through Each Maturity Stage – From early implementation to long-term optimization, successful ESOPs prioritize financial literacy, transparency, and proactive planning—ensuring employee-owners understand their role in building lasting business success.

The Great Ownership Transfer: A New Era of Business Ownership – The McKinsey Institute for Economic Mobility’s new report examines an unprecedented wave of small-business ownership transitions that pose challenges for communities, especially rural areas, where small businesses account for more than half of total employment.

Cadbury built a city for workers—then gave it to them – In the late 1800s, chocolate makers George and Richard Cadbury built Bournville, a model village designed to give factory workers healthy housing, green space, and strong social supports. In 1900, they did something truly revolutionary – gifting ownership of the entire estate to a charitable trust, effectively transferring ownership of the village to the community itself.