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Every company should be owned by its employees
(www.elysian.press)
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this post was submitted on 25 Jul 2024
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Are you under the impression that private business owners have to cover losses..? Like that’s what a LLC is, a limited liability company. If it goes bankrupt the private owners are only liable for a part of it.
If a private business owners goes bankrupt, he just has to, gasp, find a job.
If a worker loses their job they might go fucking homeless.
I think what he's getting at is you lose both your job and your shares (which are presumably part of your retirement) if the co-op goes tits up. It's more risk.
You also make a lot more money 🤷♂️
What about not reaching bankruptcy level, but just funding losses for a bit, or funding expansion into new locations, equipment, etc
That doesn’t come out of your personal bank account tho… that all comes out of the company’s account.
And if not, we’re talking about smaaall time businesses owners. They are not relevant to this.