Smith School of Business launches new Employee Ownership Research Initiative

November 25, 2025, Kingston (ON) – With three in four Canadian owners set to exit their business within the next decade, Smith School of Business has launched a new research initiative focused on deepening Canada’s knowledge and understanding of a powerful succession model that can enhance outcomes for owners, employees and communities: Employee ownership.

Housed in Smith’s Centre for Entrepreneurship Innovation & Social Impact (CEISI), the Employee Ownership Research Initiative (EORI) aims to shape a ‘Made in Canada’ approach to employee ownership by creating a multi-disciplinary network of academics, researchers, practitioners and businesses. Together, they will fill the gap in relevant data, expertise and business-oriented resources and solutions to support employee ownership activities in the country.

“Amid today’s geopolitical climate and concerns around economic sovereignty, employee ownership can play a crucial role in helping keep Canadian businesses locally owned and creating prosperity for more people,” says CEISI Director Elspeth Murray. “As we experience the so-called ‘Silver Tsunami’, transferring majority ownership to employees, including Canada’s new Employee Ownership Trust model, is a hot topic under consideration, but the process and options are not well understood, especially in a Canadian context.”

That’s about to change thanks to funding support from Jon Shell, a grad of Queen’s University, Chair of Social Capital Partners and board member at Employee Ownership Canada. A prominent advocate for employee ownership in Canada, he has committed $250,000 to assist EORI in conducting research into the impact of broad-based, majority employee-owned Canadian enterprises and government policies to support employee ownership in Canada.

“Employee ownership offers a powerful opportunity to broaden prosperity and strengthen communities,” says Shell. “By grounding the conversation in rigorous research, this initiative will help Canada build an evidence base for a more inclusive and sustainable economy.”

While employee ownership is well studied in the United States and the UK, EORI represents the first comprehensive research initiative of its kind in Canada dedicated to understanding the impact of employee ownership activities and the factors that drive the success of companies owned indirectly through a trust or through the purchase of shares over time.

The multi-year project will establish a national database of majority employee-owned businesses, conduct research and case studies, and share findings through open-access reports, workshops and public events. This work will contribute to a growing movement of companies, scholars, associations and advisors in the employee ownership space, and help shape employee ownership policies and best practices in Canada.

The EORI’s work will be guided by leading academics and industry experts in the field. PhD candidate Lorin Busaan and Associate Professor Simon Pek, both from the Peter B. Gustavson School of Business at the University of Victoria, are joining EORI as research fellows. Pek will also serve on the advisory board alongside Shell and Joseph Blasi, J. Robert Beyster Distinguished Professor and Director Emeritus of the Institute for the Study of Employee Ownership and Profit Sharing at the School of Management and Labor Relations at Rutgers University; Mike Fotheringham, CEO of Taproot Community Support Services; John Hoffmire, Founder of the Center on Business and Poverty, and Research Associate at the Centre for Mutual and Co-owned Business at the University of Oxford’s Kellogg College; and Melissa Hoover, Senior Fellow and Senior Director of the Institute for the Study of Employee Ownership and Profit Sharing at the School of Management and Labor Relations at Rutgers University, and Managing Director of Ownership Culture at Apis & Heritage Capital Partners.

“The research initiative is a big part of creating greater awareness and also the knowledge and know-how for Canadian owners, workers and communities to reap the benefits of employee ownership,” says Murray.

For more information, please visit Employee Ownership Research Initiative.