On 3 October 2023, the Institute for Economic Democracy (IED) organised the Second Slovenian Congress of Economic Democracy at the Ljubljana City Museum, which was attended by around 100 institutional stakeholders.

Director of the Institute for Economic Democracy Tej Gonza in his address, he warned of a silver tsunami that threatens 25% companies in the SME sector, which generate around 20% of added value in the Slovenian economy and employ around 80,000 people per year, over the next 10 years. He presented the Institute's efforts to introduce a Slovenian ESOP model to address the problem of ownership succession and promote responsible ownership in the Slovenian economy.

Jack Moriarty Director Lafayette Square FoundationIn his address, he supported the Institute's efforts and outlined the economic policies that have brought 14 million workers in the US to ownership of the companies where they work. Jack explained that employee ownership has provided a boost to value added in the economy, has built enormous middle class wealth, and has provided a long-term ownership model for businesses that are embedded in local communities.

Igor Feketija, State Secretary at the Ministry of Social Affairs and Jernej Štromajer, Secretary in the Cabinet of the Minister at the Ministry of Economy, Tourism and Sport, presented the government's initiatives to regulate employee ownership in the first panel. The Ministry of Labour and Social Affairs and the Ministry of SME are proposing an ESOP law which, following the example of good practice from abroad, would bring to Slovenia tax breaks for the model of buying out companies through a dedicated legal entity which holds the ownership in the name of the employees. The MGTŠ proposes an ESPP model that provides for profit sharing among employees, whereby employees can buy shares in the company in which they work.

The second panel of the 2nd Slovenian Congress for Economic Democracy, moderated by the CEO and Partner of Capital Genetics Andrez Grahek opened the discussion on financial support for employee ownership Miglena Dobreva from EIB, Chairman of the Board of SID banka Borut Jamnik, Managing Director of MSIN Group and Partner of NorthGrant Consulting Peter Groznik, and the President of the Regional Bank of Slovenia Jure Kvaternik. Capital and other financial institutions in Slovenia. The speakers on the panel raised some challenging questions, such as: is it appropriate for employee ownership to take precedence over other ownership models? Is there a market gap in the financing of employee buy-outs? What support can the EIB and SID Bank provide to enable the development of debt and equity instruments to finance ESOP funds?Opinions were divided and the panel also generated a lively debate with a number of congress guests.

We learned a lot about the functioning of the financial sector in Slovenia and the potential it can offer, but it also became clear that Slovenia needs to start systematically educating itself about the modern practice of employee ownership around the world - and the opportunities it offers for the economy and society.

We were only able to make this event happen with the support of our sponsors, who helped us select €1000 also for charity for Slovenian Association of Friends of Youth to help victims of the recent floods.

This year's congress was made possible with the sponsorship of a Gold Sponsor: First Finance Agency, silver sponsors: Dewesoft, Capital Genetics, INEA and Institute 1 May; bronze sponsors: Kovintrade, Inea RBT, Land Bank of Slovenia, SIP Slovenia, Marand and support Municipality of Ljubljana,  Museum and Galleries of the City of Ljubljana, PRO-BIT, Label, La Chocolate and Yessir Yessir.