The innovative company is poised to empower
small business owners nationwide with new Modern Agreement for
Rewards and Equity program designed to keep key employees
LAS
VEGAS, July 11, 2024 /PRNewswire/ -- Reins, a
pioneering technology firm dedicated to empowering small businesses
through modern equity solutions, is excited to announce the public
launch of its innovative MARE (Modern Agreement for Rewards and
Equity) program. This instrument, alongside the cutting-edge Reins
platform, is designed to help small business owners keep their key
employees engaged and invested in the long-term growth of the
business.
Founded by Chris Buttenham, along
with co-founders Alex Sopinka and
Sarah Khuwaja, Reins aims to address
a common challenge faced by small businesses: how to offer
meaningful incentives and rewards to their key employees. The
founders identified the need for a simple yet effective way for
small business owners, particularly those operating as LLCs and S
corporations, to offer stock options and profit-sharing plans along
with a potential path to succession within the company.
"Our mission at Reins is to support the backbone of the US
economy—small business owners—by providing them with tools to
retain their key employees," said Chris
Buttenham, cofounder of Reins. "Our solution offers hope to
millions of small business owners looking for ways to offer
competitive compensation plans to incentivize key employees. By
putting a little skin in the game, both the owner and employee
win.
With our Modern Agreement for Rewards and Equity program, we're
making it easier for these businesses to offer equity and
profit-sharing incentives that align their employees' interests
with the success of the company."
Implementing an equity and profit-sharing program through the
MARE not only incentivizes key employees but also paves the way for
smooth succession planning. By offering a stake in the company's
success, employees are more deeply invested in the long-term growth
and stability of the company. This fosters loyalty, enhances
performance and prepares key employees to take on greater
leadership roles in the future.
The MARE allows small business owners to share a percentage of
net profits and offer long-term incentives akin to equity in the
company. The platform simplifies the process of creating,
customizing and executing equity agreements that are 409a compliant
out-of-the-box, and regularly monitors for legislative and
regulatory changes. The program was built by attorneys and is
customizable and legally binding.
Guided by thoughtful prompts, owners can create custom equity
agreements and seamlessly manage and sign all documents
electronically. The app includes a robust vesting schedule tracker
and a communication portal that keeps employees informed about
their equity status and milestones.
"Ninety-nine percent of American businesses are small
businesses, and they employ 46% of all private sector employees,"
said Buttenham. "Turnover is a costly problem for these small
businesses, and our goal is to make a real impact by helping these
businesses thrive and grow and keep their key employees. An
attorney can charge thousands of dollars for a similar
off-the-shelf template to create a profit-sharing program which
could take weeks to execute. Our solution takes minutes and manages
that plan for a fraction of the cost."
For more information about Reins and the MARE program, please
visit https://myreins.com/.
About Reins
Reins is an innovative platform that empowers small businesses
to retain key employees effectively by offering owner-like benefits
that incentivize employees to contribute to the long-term success
of the business. Founded in 2023, Reins' mission is to help small
businesses remain productive and growing. Reins' proprietary
solution, the Modern Agreement for Rewards and Equity (MARE)
program was built by attorneys and is customizable to meet each
business owner's needs. Every plan is legally binding and regularly
monitored for legislative and regulatory changes. Using the MARE
program, business owners can create and execute the documents
within minutes. For more information about Reins and the MARE
program, please visit https://myreins.com/.
MEDIA CONTACT:
Heather Ripley
Ripley PR
865-977-1973
hripley@ripleypr.com
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SOURCE Reins