OAKLAND, Calif., Sept. 29, 2020 /PRNewswire/ — Certified Employee-Owned (Certified EO) is proud to announce the launch of Shop EO, the first-ever tool designed to help people find and shop at employee-owned businesses.
Shop EO will boost efforts to revitalize the American economy by creating unprecedented visibility for employee ownership. As a one-stop-shop where consumers can browse employee-owned businesses and search by geography, industry, and name, Shop EO will help people vote with their dollars for an economic recovery focused on Main Street.
“Employee-owned businesses empower workers and build community wealth,” said Certified EO co-founder and CEO, Thomas Dudley. “As our country begins to re-open, the choices that consumers make today will decide what our economy looks like in the future.”
“We are thrilled to launch this tool that makes it easier for people to use their purchasing power to support employee-owned companies,” said Certified EO co-founder and CTO, Kramer Sharp. “Shopping at employee-owned businesses during the recovery is a positive action that anyone can take to stabilize our communities and create broad-based prosperity in America.”
The many beneficial impacts of employee ownership are supported by decades of research. Workers build wealth by earning a share in the company’s success. This wealth built through ownership can be substantial. A 2018 survey by the National Center for Employee Ownership found that the average employee-owner had $170,326 in retirement savings, nearly twice the average non-employee-owner.
In addition, companies see increased performance from engaged and committed employees. Multiple performance studies have found that employee-owned companies have higher growth and productivity. Finally, employee-owned companies provide stability for local economies, especially in difficult times. For example, during the 2009 recession employee-owners were five times less likely to experience layoffs.
The benefits of employee ownership for workers, companies, and communities inspired Thomas Dudley and Kramer Sharp to launch Certified Employee-Owned in 2017 with the mission of creating national recognition for employee-owned business and building an employee-owned economy. Shop EO is a major step in achieving that mission.
Today there are over 6,000 companies in America that meet Certified Employee-Owned’s rigorous standards of broad-based employee ownership. These companies range in size from 10 people to over 180,000. They operate in every state and in a diverse set of industries including retail, manufacturing, construction, engineering, and professional services.
SOURCE Certified EO