SAN DIEGO (KUSI) – San Diego businesses and their employees could enjoy opportunities for growth by switching to an employee-ownership model, according to a San Diego Workforce Partnership report released Tuesday.
The report — “Employee Ownership: A Good-For-Business Tool That Creates Equity and Opportunity for Workers” — finds that employee-owned businesses such as El Cajon’s Taylor Guitars are both more profitable and resilient than many privately-owned companies.
The workforce partnership outlines how San Diego’s economy could see improvements through businesses adopting an employee-owned model.
“As we look towards recovery, San Diego faces an incredible opportunity to build a bigger and brighter future,” said Rachel Merfalen, director of business services at the San Diego Workforce Partnership. “Employee-owned business structures could offer our local economy a viable and powerful path forward.”
The number of small businesses open in San Diego decreased by 37.9% in 2021 from the previous year due to the