• Canadian employee ownership,  Employee Ownership,  Employee Ownership Trust,  EOTs,  ESOPs in Canada,  Founding Owners,  Succession planning

    What to know about the new EOT in Canada

    Employee Ownership Trust (EOT) is in Canada Canadian business owners may be curious about a possible new option when considering an employee ownership transition; the EOT. Employee Share Ownership Plans in Canada have been used by business owners as they are shown to facilitate numerous benefits; increased retention, engagement, productivity, and profit. They can also improve the country’s economy by spreading the wealth more fairly, protecting small businesses and local work, and improving resiliency of these businesses. The government had previously announced the creation of an Employee Ownership Trust (EOT) in the 2023 budget and have now confirmed it’s creation in the Fall Economic Statement along with announcing tax incentives for business owners…