Blue Ridge ESOP Associates Industry News

TEA's Statement on Nomination of SBA Administrator

Posted by ESOP Association

Jan 20, 2021 3:02:05 PM

From The ESOP Association:ESOP

The ESOP Association (TEA) is encouraged by news reports that President-elect Joseph Biden will nominate Isabel Guzman to lead the Small Business Administration (SBA).

As the head of California’s Office of the Small Business Advocate, Guzman has gone on the record stating the important role employee stock ownership plans (ESOPs) can play in helping our nation retain millions of businesses that might otherwise close when their Baby Boomer owners retire—as many are expected to do in the next eight years.

Guzman has stated her desire to educate retiring owners about the advantages of ESOPs so they can consider transitioning their businesses to the employees who helped build them. More can be read here.