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The first step is to try and understand why the absentee owner is not investing in their own business. There could be a number of reasons such as a lack of interest, uncertainty about the future of the business, or a lack of funds. Once you have identified the reason, you can then start to come up with solutions.
Ultimately, it will be up to the owner whether or not they decide to invest in their own business. However, by providing information and solutions, you can help them make an informed decision. The sad part is that if the owner decides to sell, or the business goes bankrupt or something, you guys, the employees, will take the brunt of it.
If the owner is uncertain about the future of the business, you could provide statistics or projections that show how the business is doing and how it is likely to grow in the future. If the owner is interested in the business but does not have the funds, you could suggest ways for them to raise money such as through loans or crowdfunding.