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.
Reins founders from left, Alex Sopinka, Sarah Khuwaja and Chris Buttenham.
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
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SOURCE Reins
