Mackall, Crounse & Moore, PLC has joined Dewitt Ross & Stevens S.C.

The newly formed DeWitt Mackall Crounse & Moore S.C. will provide clients with enhanced legal services
and efficiencies as well as access to more than 100 attorneys practicing in nearly 30 areas of
law in Wisconsin and Minnesota.

Dismiss this message


News & Education

Back to ESOP News Feed

Filter by:

Colorado Enacts Law Aimed at Fostering Employee Ownership of Small Businesses

On May 18, the governor of Colorado signed House Bill 17-1214, which is designed to encourage employee ownership of small businesses through educational training and funding programs involving the state’s Office of Economic Development.  Specifically, the law seeks to promote employee ownership by:

(1) Requiring the Office to coordinate with a nonprofit organization that supports and promotes employee ownership of businesses for the purposes of training Office staff on the forms and benefits of employee ownership;

(2) Requiring the Office (or a qualified outside entity) to establish and administer a revolving loan program to assist businesses in transitioning to employee ownership, subject to specified limits and conditions;

(3) Permitting the Office to accept and spend gifts, grants, and donations to capitalize the loan program, and permitting the Office to keep the first 15% of the funds raised for administration purposes; and

(4) Requiring the Office (or the contracted outside entity) to establish fees, policies, rates, terms, and other guidelines related to the loan program and to post the information on its website.

The law’s legislative findings also cite some significant advantages for employee-owned and democratically managed companies, including:

  • Assurance of a succession plan that permits companies to continue adding value to communities;
  • Promotion of employee investment in the workplace;
  • Alignment of goals between employees and management, resulting in a stronger, more resilient company; and
  • Employee exposure to the entrepreneurial experience without all of the entrepreneurial risk.

According to the legislative findings, these advantages have a quantifiable impact on employee-owned companies:

  • Only 1.3% of employees at employee-owned companies were laid off in 2014, compared to 9.5% at other companies;
  • Employers at companies with an ESOP contributed 75% more to employee retirement than companies with traditional plans;
  • Employees of employee-owned businesses earn 5% to 12% higher wages than comparable employees at non-employee-owned businesses; and
  • After 5 years, employee-owned businesses are 66% more likely to still be in business than their non-employee-owned counterparts.

The full text of the law, including the legislative findings and statistics citing the advantages of employee ownership, can be found at the website for the Colorado General Assembly.

About the Author

Andrew Bezouska is an attorney practicing out of our Madison office. He is a member of the Employee Benefits, Labor & Employment and Tax & Tax Advocacy practice groups. Contact Andrew by email or by phone at 608.252.9200.


One of the best features about our website articles and blog entries is that they are timely—you get up-to-date information on the law as it exists at the time. The downside is that the law changes, but our older entries don't. That means we can't guarantee you are getting the most current law when reading through past entries.

Please don't take these articles and blog entries and rely on them as legal advice. Give us a call instead, for specific and pointed advice for your particular situation. Note that contacting us does not create an attorney-client relationship, unless you are accepted as a client of the firm.

Our Locations


Two East Mifflin Street, Suite 600
Madison, WI 53703
(608) 255-8891
Get Directions

Greater Milwaukee

13845 Bishop’s Drive, Suite 300
Brookfield, WI 53005
(262) 754-2840
Get Directions


2100 AT&T Tower,
901 Marquette Avenue
Minneapolis, MN 55402
(612) 305-1400
Get Directions

Get to know us

DeWitt Ross & Stevens S.C., including its affiliate DeWitt Mackall Crounse & Moore S.C., is one of the ten largest law firms based in Wisconsin, with an additional presence in Minnesota. It has nearly140 attorneys practicing in Madison, Metropolitan Milwaukee and Minneapolis in over 30 legal practice areas, and has the experience to service clients of all scopes and sizes.

Our People
Our Law Firm
Areas of Expertise
News & Education
Contact Us


We are an active and proud member of Lexwork International, an association of mid-sized independent law firms in major cities located throughout the Americas, Europe and Asia.


Best Lawyers 2013 – 2018
Compass Award 2012
Top 100 Lawyers: National Trial Lawyers Association

  • blf-badge-2016
  • blf-badge-2017
  • Ramac Member Logo
  • blf-badge-2018


While we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an “engagement letter”). You will not be a client of the firm until you receive such an engagement letter.

The best way for you to initiate a possible representation is to call DeWitt Ross & Stevens at 608-255-8891. We will make every effort to put you in touch with a lawyer suited to handle your matter. When you receive an engagement letter from one of our lawyers, you will be our client and we may exchange information freely.

Please click the “OK” button if you understand and accept the foregoing statement and wish to proceed.