Business owners need to understand all of their exit options. What they believe their exit option is today could change significantly in one or two years.  Life changes can affect the owner personally and economic variants could affect their business.

One exit option that advisors and business owners don’t fully understand are employee stock ownership plans (ESOP). I interviewed George Thacker, an investment banker and partner at CSG Partners, who specialize in ESOP transactions, and Greg Harmeyer, business owner of TiER1, who recently went through an ESOP transaction, to provide some clarity on the process.

Read more: How to make ESOPs work for your business – Austin Business Journal