To our valued clients, partners and friends of Brightspot Climate,
I am overjoyed to share the news of Brightspot’s transition to an employee ownership trust (EOT)1 and I hope it will inspire more small businesses in Canada to do the same.
The power of employee ownership lies in its realization of wealth distribution. At its inauguration, Brightspot was a one-man show, but over the nine years since, it has been the talented, dedicated, impressive employees of Brightspot that have built its success. Employee ownership has always been a goal at Brightspot as a means of distributing the wealth we are building together. We are incredibly excited to begin this next chapter as co-owners of Brightspot.
Aaron Schroeder, CEO and Founder
There are as many reasons to celebrate employee ownership, but the following three reasons stand out the most to us:
In traditional business, ownership—and the wealth that comes with it—is concentrated in the hands of a few. The employees who pour their time and energy into building the company may see little benefit beyond their paycheque. By shifting to employee ownership, we’re breaking free of that old business model and choosing a workplace where the people who make this company thrive also share in its financial success.
Too often, small businesses are eaten up by larger corporations, typically from outside Canada. Brightspot was built in Canada and by transitioning to employee ownership, we’re ensuring the company and the wealth we are building stays here in Canada. 76% of small and medium sized business owners in Canada plan to exit their businesses in the next 10 years, according to a recent report from the Canadian Federation of Independent Business. The EOT structure is a new and exciting option for keeping our small businesses in Canada, owned by Canadian employees.
Selling a business isn’t just a financial decision, it is an emotional one too. Owners that are ready to sell their small business are often left with two options: to sell to the highest bidder—typically, a large corporation expected to dismantle and corporatize most of what was built, or struggle to find a buyer who understands the vision and hope they can carry it through. Employee ownership provides a unique alternate solution: to sell the company to the people who know it best and have given their time, ideas, and passion into growing its success.
We believe that EOTs could be the future for many small businesses, and we want to encourage others to explore the benefits. As awareness of employee ownership grows, we anticipate more government support in the form of financial incentives and tax benefits for businesses that adopt this model.
Our unique working environment at Brightspot has always been about empowering individuals, fostering creativity, and building trust. The change to an employee-owned company reinforces these values and gives us all a stronger voice in shaping the future of our company. Together, as owners and change-makers, we are positioned to take on new challenges while continuing to build a workplace that inspires and supports us all.
Employee ownership is a fairly new concept to me, but it is a benefit a smaller consulting company can share with its employees. Changes in how companies operate are vital for a holistic and fair work-life balance. I’m excited to see Brightspot Climate become one of the few companies in Canada to offer co-ownership to employees and open the doors for progressive change in the workforce!
Andria is a Senior Business Administrator with Brightspot Climate, based out of Calgary, AB.
We respectfully acknowledge that we predominantly live and work on the ancestral lands of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), səlilwətaɬ (Tsleil-Waututh) Nations, the Blackfoot Confederacy (Siksika, Kainai, Piikani), the Tsuut’ina, the Îyâxe Nakoda Nations, the Métis Nation (Region 3), and all nations who make their homes in the Treaty 7 region of Southern Alberta. We thank these First Peoples who have cared for the land since time immemorial and recognize that this land was never surrendered, relinquished, or handed over in any way.
Our work takes us across what is known as “Canada,” and we encourage others to learn the history and territories of the Indigenous nations upon whose land we live and work. See native-land.ca (opens in a new window) for a visual depiction of traditional territories worldwide.
A Leading Canadian Greenhouse Gas Emissions Consulting Firm
