Please provide a brief update on your progress toward your proposed CWB goals in the last reporting period:
Our first goal with this partnership is to help assess the opportunity for employee ownership as a strategy to build wealth in Chicago. Our key deliverable is a data visualization that analyzes over 24,000 Chicago businesses and outlines the small business retention risk and opportunity for employee ownership transitions in Chicago, which we have now completed. Our second goal is to build awareness of employee ownership as a business retention & succession, employee engagement, and community wealth building strategy among business owners and business-serving organizations in Chicago. From March to October, we engaged over 350 Chicago-based service providers and business serving organizations to share more about employee ownership. In August, we also served as a keynote presenter at the Unique CPA conference and presented to the Chicago Chapter of the Exit Planning Institute and the Black Construction Owners & Executives on employee ownership conversions. Our third goal is to demonstrate impact and build the case for employee ownership transitions as a community wealth building model in Chicago. Since launch, we've provided one-on-one employee ownership consultations with 3 businesses in Chicago. Our final goal is to build capacity in Chicago to support employee ownership long-term. Since launch, we've built and piloted a continuing professional education course on employee ownership, with Chicago-based service providers serving as advisory board members and content contributors.
What constraints or limitations, if any, did you experience in the last reporting period?
We were delayed in signing our agreement with the City due to professional liability insurance requirements. We ended up needing to purchase additional insurance (an estimated $45,000 expense of which only 10% can be invoiced to the City) to meet the requirements of the agreement, which is higher than any other requirement we have within our existing federal, state, and city/county agreements. This is an approx. $40,500 unanticipated expense we're having to cover from core funds. We had to adjust our timeline and staffing given the change and delay in signing the agreement but are excited to fully launch all components of our project beginning in October.
What opportunities, if any, did you take advantage of in the last reporting period?
We joined Working Group meetings and the CCWBE Launch Event 9/28
Did you establish new CWB relationships/partnerships in the last reporting period?
Yes
Please describe the relationships you established pertaining to your CWB work.
We have built relationships with CWB Working Group members and are exploring opportunities to collaborate on an educational event on coops. We've also engaged &/or collaborated with World Business Chicago, the Illinois SBDC at Chinese Mutual Aid Association. the Illinois SBDC at Arab American Business & Professional Association, the Chicago Community Trust, Unique CPA, the Chicago Chapter of the Exit Planning Institute, and the Black Construction Owners & Executives to build awareness of employee ownership conversions with their clients/audience.
Did you collaborate with other TA providers in the last reporting period?
No
Which TA provider(s) did you work with?
Please share on behalf of whom / which projects you collaborated with the TA providers above:
Did you attend the Working Group meeting last month?
Yes
How would you rate the usefulness of the working group to your project last month? (on a scale of 1-5)
3
Optional Space
Gender identity of Participants (select all that apply)
Age Range of Participants (select all that apply)
How many sessions of one-on-one consulting to Worker Cooperatives, Conversions, or Co-op Developers did you conduct this reporting period? (e.g. one group or individual with one training provider)?
1
How many group workshops for Worker Cooperatives, Conversions, or Co-op Developers did you conduct this reporting period? (e.g. convenings, workshops, events, etc.)
2
How many hours of support to CWB Pre-Development Worker Cooperatives, Conversions, or Co-op Developers did you provide this reporting period?
0
How many hours of support to existing Worker Cooperatives, Conversions, or Co-op Developers did you provide this reporting period?
0
How many co-op businesses did you develop last reporting period? (It's okay if the answer is 0)
0
How many jobs were created overall last reporting period? (It's okay if the answer is 0)
0
Please list the Worker Cooperatives, Conversions, or Co-op Developers Organizations you worked with this reporting period.
What type(s) of Technical Assistance did you provide to Worker Cooperatives, Conversions, or Co-op Developers this reporting period? Select all that apply.
Did you provide education to any Worker Cooperatives, Conversions, or Co-op Developers this reporting period?
Yes
How many hours of cohort education/training did you provide last month?
10
How many hours of popular education/outreach did you provide last month?
20
Number of curriculum material(s) created last month
1
How did you market your services and conduct outreach in the last reporting period? Select all that apply.
What are the greatest needs that your WC clients/partners expressed in this reporting period?
Interest in conversion as a succession/exit plan
What are the greatest gaps in service or resources in Chicago's CWB ecosystem?
Awareness of coops as an exit/succession options among existing business owners and business advisors (i.e. exit planners, CPAs, etc.)
Please share any direct testimonials from Worker Cooperatives, Conversions, or Co-op Developers clients or storytelling about the impact of your work this period:
Please upload media (document with testimonials, photos, or video links) from WC workshops or events held.
