When the owner of a small business wants to move on, whether to retire or to pursue other ventures, he or she has three potential paths: close the business, sell it to investors or to a competitor or let the employees purchase it.
Each option has consequences for a community that relies on local businesses for jobs and revenue generation.
Stephen Wiman, former owner of Good Water Company in Santa Fe, never considered closing the independent water company he purchased in 2005 when he exited the company 11 years later. Continue reading