The employee ownership sector has doubled in the last five years, with Aardman Animations, Richer Sounds, and Riverford Organic Farmers part of a recent wave of high-profile conversions. As an alternative to conventional trade sales, there is an increasing appetite for business owners to consider a better exit strategy.
With the potential for this growth to continue, five values-driven organisations have formed a new partnership to support business owners who are interested in sharing ownership and success with their employees. Stir to Action, J Gadd Associates, TLT and Triodos Bank UK, together with support from the Employee Ownership Association, today launched a programme of content and events to share their collective insight and expertise on the benefits of employee ownership.
The employee-ownership sector has seen a growth of 50% since 2017, predominantly in SME and family businesses, driven by a resurgence in values-led entrepreneurs. Despite this growth, the partnership has identified the need to offer more support to those in the early stages of business succession planning. As part of this approach, the partnership is launching the UK’s first ever Employee Ownership Accelerator – a pilot learning programme – with aims to support both business owners who are actively considering employee ownership as a route, and also those leading values-driven organisations who may be considering their future legacy.
The accelerator, to be hosted at Stir to Action’s New Economy Centre at Selgars Mill in Mid-Devon on 17-19 September 2021, will support a cohort of business owners to explore employee ownership models and look at how to determine what will work for them, and also consider the legal, financial and tax implications. Deb Oxley, Chief Executive of the EOA, said: “As the employee ownership sector grows, so does the knowledge and best practice about what makes a good employee owned business. It is great to see the launch of new initiatives that support this as well as the aims of the EOA – to unlock the potential of people, businesses and the economy through employee ownership.”
Jonathan Gordon-Farleigh, director at Stir to Action, said: “Employee ownership is a key part of efforts to build more democracy in our workplaces and communities. We’re excited to open the autumn programme at Selgars Mill with the UK’s first employee ownership accelerator. We’ve put several processes in place to ensure our residential training centre is Covid-secure, and we’re ready to welcome a cohort of business owners who value economic democracy and the resulting benefits for both business and communities.”
Registration of interest is open now through 9 July, and bookings need to be secured by 19 July to complete pre-course preparation. http://bit.ly/eoaccelerator