The Colorado Office of Economic Development and International Trade (COEDIT) offers quarterly grants for Colorado employee-owned businesses. Employee Ownership grant offers funding for small businesses converting to an Employee-Owned Company. A business is considered a Colorado Employee Owned Company using any employee ownership model that offers an ownership stake to at least 20% of their employees. The grant will reimburse professional technical services required to convert your business to a Colorado Employee Owned Company. If you are considering converting your company to be employee owned, check out this Toolkit provided by COEDIT or reach out to our attorneys for more information on the advantages of Employee Ownership.
The fourth round of the Colorado Employee Ownership Grant is now open and accepting applications from qualifying businesses. The grant will award up to 20 Colorado businesses $3,000 as a reimbursement. Qualifying businesses can submit applications for the Colorado Employee Ownership Grant now through November 4th, 2022. As always, our firm is here to assist small businesses to understand and navigate this opportunity.