Worker-Owned Detroit Program

Detroit Community Wealth Fund has launched The Worker-Owned Detroit Program to support Detroit-based business owners and their workers to transition to employee ownership as a succession option.

The program will provide business owners looking to sell their employees technical assistance and support throughout the process. In the first round of financing, Detroit Community Wealth Fund, a non-extractive loan fund, will provide up to $2M in financing for businesses in Detroit. Detroit Cooperative Conversion’s program goal is to strengthen the pathway for exiting and retiring business owners to sell their businesses to their employees by providing financing and technical assistance for business conversions. This approach is part of a growing national strategy to retain local talent, well-paying jobs, and businesses in a shifting economy.

Cooperative business conversions in Detroit will enable equitable transfer of wealth across the city, create ownership opportunities for Black and Brown Detroiters.