--- title: Preserving West Side Businesses Through Employee Ownership description: Learn how LBRA and partners support Chicago West Side business succession and employee ownership models to preserve local jobs and company legacies. image: https://lawndalebusiness.org/hubfs/Succession_Gemini_AI_2+.jfif --- [![Logo | LBRA-Logo-041-1](https://lawndalebusiness.org/hubfs/LBRA-Logo-041-1.png)](https://lawndalebusiness.org/) ![Logo | LBRA-Logo-041-1](https://lawndalebusiness.org/hubfs/LBRA-Logo-041-1.png) - [About](https://lawndalebusiness.org/about-lbra) - [Executive Committee](https://lawndalebusiness.org/management-board) - [Our Team](https://lawndalebusiness.org/our-team) - [Our Mission](https://lawndalebusiness.org/our-mission) - [Services](https://lawndalebusiness.org/services) - [LIRI](https://lawndalebusiness.org/liri) - [NBDC](https://lawndalebusiness.org/nbdc) - [Local Jobs](https://lawndalebusiness.org/local-jobs) - [Economic Impact](https://lawndalebusiness.org/economic-impact) - [Members](https://lawndalebusiness.org/members) - [Recognition & Milestones](https://lawndalebusiness.org/en-us/member-highlights) - [Resources](https://lawndalebusiness.org/resources) - [Contact](https://lawndalebusiness.org/contact-us) - [Blog](https://lawndalebusiness.org/blog) [Get Started](https://lawndalebusiness.org/contact-us) - [About](https://lawndalebusiness.org/about-lbra) - [Executive Committee](https://lawndalebusiness.org/management-board) - [Our Team](https://lawndalebusiness.org/our-team) - [Our Mission](https://lawndalebusiness.org/our-mission) - [Services](https://lawndalebusiness.org/services) - [LIRI](https://lawndalebusiness.org/liri) - [NBDC](https://lawndalebusiness.org/nbdc) - [Local Jobs](https://lawndalebusiness.org/local-jobs) - [Economic Impact](https://lawndalebusiness.org/economic-impact) - [Members](https://lawndalebusiness.org/members) - [Recognition & Milestones](https://lawndalebusiness.org/en-us/member-highlights) - [Resources](https://lawndalebusiness.org/resources) - [Contact](https://lawndalebusiness.org/contact-us) - [Blog](https://lawndalebusiness.org/blog) [Get Started](https://lawndalebusiness.org/contact-us) ![Preserving West Side Businesses Through Employee Ownership](https://lawndalebusiness.org/hubfs/Succession_Gemini_AI_2+.jfif) # Preserving West Side Businesses Through Employee Ownership Post by [admin](https://lawndalebusiness.org/blog/author/admin) October 13, 2026 According to data from the Small Business Administration (SBA), about 30% of family-owned businesses survive into the second generation, and barely 12% make it to the third. When long-standing neighborhood businesses close because of a lack of a succession plan, communities lose vital commercial anchors and residents lose sustainable jobs. The Lawndale Business Renaissance Association (LBRA) is committed to keeping local enterprises alive and thriving. To support sustainable business transitions, LBRA recently co-sponsored **"Securing What You Built: Employee Ownership for Chicago's West Side"** alongside Project Equity, Revolution Institute, and the Industrial Council of Nearwest Chicago (ICNC). The live webinar introduced business owners to employee ownership and worker cooperatives as viable succession models that preserve company legacies, protect jobs, and keep wealth rooted in our local community. To learn more about upcoming succession planning resources and business training workshops, contact ![LBRA\_Webinar](https://lawndalebusiness.org/hs-fs/hubfs/LBRA_Webinar.jpg?width=960&height=502&name=LBRA_Webinar.jpg)at LBRA. 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