54 results for year: 2023
Employee Ownership pioneers and exemplars celebrated at EO sector awards
A night of celebration was enjoyed by 800+ people at the UK Employee Ownership Awards, at the ACC Liverpool, last night (Monday 27th November) with five winners celebrating success.
Retired Owner of Cash and Carry business Parfetts, Steve Parfett was given a special accolade, alongside this four other awards were presented to businesses and one individual.
The UK EO Awards 2023, managed by the EOA, and this year sponsored by GLIDE were held at EOA Conference 2023 Awards Dinner to celebrate the impact employee ownership has for employees and businesses.
This year’s award winners are part of the storytelling that brings to life the recent ...
When businesses owners are looking at exit options they should strongly consider the sale of the business to an Employee Ownership Trust
EOA Guest Blog - RVE
This report reinforces our long-held belief that when businesses owners are looking at exit options they should strongly consider the sale of the business to an Employee Ownership Trust (“EOT”). As the reports’ respondents describe, not only do you achieve a fair market price for the business you secure an independent future for the business and its employees.
The Ownership at Work survey provides a valuable insight into the views of the owners of SME businesses (10-249 employees) in the UK, as they consider their ownership succession options. It is clear that business owners are increasingly aware of employee owners...
Research reveals businesses and employees missing out on benefits of employee ownership due to lack of awareness among business owners
EOA Guest Blog - ThinCats
Two recent pieces of research have revealed that there are genuine economic, social and environmental benefits to be gained from businesses adopting an employee-owned structure, however, there is a real lack of knowledge about why and how to do it.
As a long-term funding partner to many mid-sized SMEs, ThinCats provides specialist debt solutions for businesses that need external funding to facilitate the transition to E0 status, typically via an Employee Ownership Trust (EOT).
The benefits of an employee owned structure
Research carried out by independent think tank Ownership at Work (OAW) in October ...
Action to educate businesses on EO succession could save thousands of ‘at risk’ jobs and businesses
The EOA welcomes new research that shows how many business owners will be looking to sell, divest or liquidate their shareholding over the next 10 years.
In the report Generation EO: The Great Succession Opportunity it details how 40% of older business owners intending to sell their stakes in small and medium businesses (10-249 employees) predict the risk of closure without the right buyer.
New research reveals that:
Over two thirds of older owners of small and medium-sized businesses (10-249 employees) intend to sell or divest their shareholding over the next 10 years (indicates owners at 120,000 SME firms)
Of that group, 43% predict ...
Report offers insights that map the road to successful leadership succession
The EOA is delighted to welcome a report by two EOA members that focuses on exploring leadership succession in EO businesses.
The report ‘The Road to Succession’ reveals valuable insights from Telos and JGadd Associates who conducted 25 interviews with founders and successors from employee owned businesses (EOBs).
The report also offers tips from those who have navigated the intricacies of leadership succession in EOBs.
James de le Vingne, Chief Executive of the EOA, said: “I extend my sincere gratitude to all those who have contributed to this report, from the founders and successors who generously shared their insights, to the team of ...
EOA search for EO member business senior finance professional for crucial board role
The EOA is looking for a senior, qualified financial professional from an EOA member business (partner member) to join the EOA board.
Applicants for the new role will need to fill the shoes of our departing board member and Finance and Audit Sub-committee Chair.
The board needs someone who is a strategist who enjoys providing appropriate challenge to develop and enhance the EOA's strategy, who can also play a pivotal role on the EOA's Finance and Audit sub-committee, becoming Chair in October 2024.
The incoming board representative, who will need to be from an EOA business in the Partner Member category, will have the benefit of shadowing ...
EOA Deputy Chief Executive appointment bolsters transformation and growth plan
The EOA has appointed Oliver Smith as Deputy Chief Executive of the EOA.
The role created in the executive team is part of the EOA’s new structure to meet the evolving needs of the EOA and the sector through its transformation and growth plan.
Moving from his role as Head of Membership and Business Support, Oliver, who has been with the Employee Ownership Association for more than 8 years, will play a pivotal part in shaping the future of our EOA community and how we serve our valued members.
Oliver Smith, Deputy Chief Executive of the EOA, said:
“I am delighted to become Deputy Chief Executive to help drive forward the ...
New data shows employee owned businesses deliver an 8-12% productivity boost
New research suggests the fast-growing UK employee ownership sector is markedly outperforming the UK’s national productivity trend whilst simultaneously contributing to employee wellbeing, fair pay, community resilience and commitment to net zero.
In the most ambitious study of its kind, independent researchers surveyed over 9% of the UK’s 1,650+ EOBs and compared results to a control group of non-EOBs. They found that EOBs are 8-12% more productive based on Gross Value Added (GVA) per employee.
The study links that productivity uplift to a range of powerful additional findings, including:
EOBs return twice as much in bonuses and ...
EOA Insights: Our reflections from the Labour Party conference
The EOA attended the Labour Party conference on behalf of our members and the EO sector. Our aim has been to understand the priorities of the Party and how a prospective Labour government’s policy may impact the sector, and to share the success of the EO model and its relevance in overcoming structural challenges in the UK economy and capitalising on opportunities.
We were excited by the energy of discussion around progressive business models including employee ownership. Below are our key reflections on the Labour party, including how employee ownership can fill a core space in the party's ambition for an economic renewal.
In the future, we ...
EOA Insights: Our reflections from the Conservative Party conference
Our bid to demonstrate the accelerating growth and impact in the employee owned (EO) sector, to represent the sector's policy priorities and to understand the political currents that might affect our future influencing initiatives, began at this week’s Conservative Party Conference in Manchester.
Our conversations and meetings will continue at the Labour Party Conference in Liverpool next week.
The impact of this week’s three-day event has of course littered the news cycle with commentary, analysis, and speculation around the announcements and statements made by headline speakers, and about the conference itself.
Through our ...
EOA statement: Government must fund NHS pay award for all organisations delivering NHS services
Earlier this year, the Health Secretary announced a pay uplift for NHS staff as part of the 'Agenda for Change' over the course of 2023-34. However, the government is currently not planning to fund the pay uplift for indepdendent companies, including NHS spin-outs, community interest companies, social enterprises and public service mutuals.
Many employee owned organisations in the health and care space are affected, and we have consulted with members to gauge the impact this could have on the sector.
The EOA found that there was a consensus among impacted members: if the government fails to fully fund the NHS pay award for companies delivering ...
How an employee owned business model drives success
Guest blog Jo Ritzema, Managing Director of WCF
Established in 1911, WCF operates in the leisure, retail and logistics sectors
At WCF, it has enabled us to grow the business steadily and organically without the pressure to take risks which would benefit stakeholders only in the short-term. We are able to make decisions which put the interests of our employee owners first, with the ultimate aim of handing over the business to the next generation in a stronger financial position than when we inherited it, so future employee owners can benefit from its continued existence.
By not having to worry about the business being sold, we can ensure ...
Guidance on responding to the government’s EOT & EBT consultation
There's still time to respond to the government consultation on Employee Ownership Trusts and Employee Benefit Trusts. You can use the information and guidance below to help you complete your response. Don't forget to let us know if you are submitting a response.
About the Employee Trusts consultation
The consultation closes on 25 September 2023. The questions seek your insight on a number of topics, including:
A government proposal to require that former owners and connected persons do not have majority control of an EOT board.
Whether additional requirements should be made on the composition of EOT boards (i.e. whether employee ...
Why we’re sharing our policy priorities for the EO sector | CEO Blog
Blog by James de le Vingne, CEO, Employee Ownership Association
In recent years, the EO sector has grown rapidly and is now made up of over 1,400 businesses, more than 90% of which have transitioned to EO in the past decade. This growth, combined with the vast economic potential that EO has for businesses, employees and the wider economy, means that now is an ideal opportunity to advocate on behalf of the sector to government and other key decision-makers.
To take advantage of this opportunity, the EOA has been developing its policy, advocacy and influencing arm to ensure that EOA members’ and the EO sector’s interests are represented ...
Bristol Mayor Marvin Rees visits EOA member Torchbox amid evolving employee ownership landscape
EOA member Torchbox – a 100% employee owned, award-winning digital agency focused on not-for-profit and third sectors - was delighted to recently host a visit from the Bristol Mayor, Marvin Rees. The visit aimed to celebrate employee ownership and help to to deepen the mayor's understanding of EO business models, as well as exploring the ways the council can proactively assist these unique companies with the challenges they encounter.
Lisa Ballam, head of marketing at Torchbox said: “At Torchbox, we’re eager to demonstrate how a business can be profitable and responsible when governed by its workers. We invited Marvin to hear about our ...
Fast growing specialist recruitment company set to thrive and prosper since transitioning to employee ownership
Learn how employee owned, Instinct Resourcing has doubled its turnover since 2019 and is set to reach a turnover of £11m in 2023.
EOA Insights: Government launches consultation on Employee Trusts
On Tuesday 18 July 2023, the government formally launched their consultation on Employee Trusts, which will be open for responses until 25 September. The consultation covers measures on both Employee Ownership Trusts (EOTs) and Employee Benefits Trusts (EBTs). The EOA sees this consultation as an opportunity to represent the interests of our members and the EO sector, and will be engaging with government to do so.
James de le Vingne, Chief Executive of the EOA, commented: “We welcome this consultation from government on EOTs and EBTs. This comes at a critical time of growth for the UK employee owned sector, inreasing the impact of the ...
Warwick Ward employees ‘thrilled at the opportunities that lie ahead’ after transitioning to become employee owned
The Employee Ownership Association (EOA) congratulates Warwick Ward (machinery) Ltd after it celebrated EO Day 2023 in style on 23 June by announcing it has transitioned to become employee owned.
Owners Ashley and Matthew Ward, as part of their long-term succession planning strategy, have sold a majority of their shares to a newly formed Employee Ownership Trust (EOT) – Warwick Ward EOT Ltd.
The business was founded in 1970 by Warwick Ward and has grown into one of the largest stockists and suppliers of new and used earthmoving and material recycling equipment, and spare parts in Europe.
Partnering with premium brands CASE Construction ...
Role of the lawyer: Why legal representation is a must for all parties during an Employee Ownership Trust transaction | Napthens Solicitors guest blog
Guest blog by Keith Melling, Partner, Head of Corporate, Napthens Solicitors
A key feature of any well-structured Employee Ownership Trust (EOT) transition is the legal documentation. An EOT sale is a form of corporate transaction where there are at least two parties – a seller and a buyer (and sometimes a third-party funder) – and each requires its own legal representation to protect its position.
The seller needs to know the terms upon which it can receive future payment, while the buying trustee company will likewise want to understand its obligations to make payment for the company and perhaps some additional contractual protection where ...
UK’s largest employee owned cleaning company CleanTEC becomes Trustee member of the EOA
The Employee Ownership Association (EOA) today welcomes CleanTEC Services Ltd as a Trustee member.
CleanTEC is the UK’s largest employee owned cleaning company and ranks 15th in the Employee Ownership Top 50, which lists the UK’s largest employee owned businesses by number of employees and is produced annually in collaboration with RM2 Partnership.
The Watford-headquartered cleaning business, which also has a site in Birmingham and operates across the UK, joins other Trustee members of the EOA, including the John Lewis Partnership, Arup, Richer Sounds and Go Ape.
Founded by Peter Rochford and Chris Rogers in 2000, CleanTEC has ...
Why putting employees at the heart of our business made perfect sense | Absolute PR and Marketing on becoming EO
An Exeter-based PR and marketing agency has shared with the Employee Ownership Association (EOA) the motivation behind its move to become employee owned.
Absolute PR and Marketing announced its transition to an Employee Ownership Trust (EOT) in April 2023, with the deal symbolising a “bright future” for the award-winning agency and its employees.
Following decades of steady growth, founder and owner Rachael Whitson has sold a 90% stake in the business to the EOT which will result in employees being recognised more in the future running of the business, thereby creating a legacy from the founder’s 23 successful years in business.
As ...
UK employee owned sector grows by 37% in just 12 months to over 1,400 businesses
The Employee Ownership Association (EOA) has marked this year’s EO Day today by releasing its latest update on the state of the sector.
Produced in collaboration with the White Rose Centre for Employee Ownership (WREOC), the EOA’s figures show that there were 332 businesses that transitioned to employee ownership in the 2022 calendar year alone, and that as of June 2023 the total number of companies owned partially or fully by their employees has reached 1,418. This means another record year for growth of the sector, following a boom in recent years.
To mark EO Day, where the employee owned community looks to celebrate and raise ...
One of the UK’s largest independent marketing agencies announces transition to employee ownership on EO Day
Big Group has celebrated becoming an employee owned business by announcing the big news on EO Day, the annual national celebration of employee ownership.
As one of the UK’s largest independent integrated marketing agencies, which features in the Top 25 Best Mid-Sized Companies to Work For list, Big Group becomes the first LGBTQ-certified company in the UK to transition to employee ownership.
With offices in London, Amsterdam and Bath and a “Think Big, Deliver Excellence, Side by Side” mission statement, Big Group’s clients include Mastercard, Free Now, Samsung, Lenovo, Pizza Hut Delivery, ARUP and The North Face.
The company was ...
Employee Ownership Trust ‘provides right mechanism’ for Grapevine to pass IT and communications business to loyal team
IT and communications business Grapevine is “taking the next step in the evolution of the company, bringing the team to the forefront” after transferring ownership to an Employee Ownership Trust (EOT).
Now a full-service IT and communications support provider, Grapevine has come a long way from its early days as a reseller of mobile contracts in 1991. Many of today’s team have been a part of that journey, with 30-year and 25-year staff anniversaries taking place alongside this latest announcement from the company.
As an EOT, ownership of the business will transfer from the founders to the broader team of 20 employees working across the ...
7 key takeaways from the EOA’s event featuring Dame Sharon White, Chairman of the John Lewis Partnership
More than 100 EOA members turned out for our South East Regional Network Meeting at Arup's offices in London on 7 June to connect, learn and discuss the unique challenges and opportunities they face with other employee owned businesses.
The event, which was sponsored by RM2 Partnership, heard from:
David Whittleton, Chair of Trustees at hosts Arup
Richard Cowley, Director at RM2
Head of Membership and Business Development Oliver Smith and Head of Comms and Policy Fran Lord from the EOA team
Malcolm Clarke, Managing Director and Chairman at employee owned Baxall Construction, along with its Non-Exec Director and trustee Clive Stuart
...
Government launches consultation on share schemes affecting employee owned businesses
HM Treasury has launched a call for evidence regarding two types of share schemes that impact many employee owned businesses: SAYE and SIP.
These schemes – Save As You Earn (SAYE) and the Share Incentive Plan (SIP) – impact many EOA members whose EO structure involves direct ownership.
The call for evidence, which was first announced as part of Chancellor Jeremy Hunt’s Spring Budget, opened on 5 June and will run until 25 August.
As reported by The Daily Telegraph, the call for evidence will “likely be the widest consultation on these schemes since the introduction of the SIP in 2000”.
The aim of the exercise is to seek views ...
Riverford’s organic revolution continues as it celebrates five years EO by becoming 100% employee owned
Organic veg box company Riverford is celebrating five years of employee ownership by completing the sale of founder Guy Singh-Watson’s remaining shares in the business to become 100% employee owned.
Guy will remain a co-owner of the Devon-based business, sitting on its Trust Board and acting as a non-executive director, and continuing to act as an important voice in food and farming affairs. All shares will now be held by the Riverford Trust for the benefit of all staff.
Riverford has been owned by its employees since 2018, with Guy retaining 23% of shares. Since then, the business has gone from strength to strength, growing turnover, profits ...
Social Enterprise that helps people reach their highest potential through its ‘Outcomes Stars’ transitions to employee ownership
Social Enterprise Triangle Consulting says transitioning to employee ownership is the “perfect way to retain our strong values and collaborative culture”.
Triangle, creators of the Outcomes Star, has become employee owned, with the shares held in Trust to advance its mission and for the benefit of all current and future employees.
Triangle Consulting is an innovative, mission-led organisation that exists to help people reach their highest potential and live meaningful and fulfilling lives, often in the context of social disadvantage, trauma, disability or illness.
Since being founded in 2003, Triangle has grown rapidly and its Outcomes ...
Move to employee ownership ‘driven by ambition to remain independent global leaders’, says pioneering cellular communications specialist
Smith Myers, the Bedfordshire-based pioneer of global airborne mobile phone detection, location and communications solutions, has become majority employee owned through an Employee Ownership Trust (EOT).
Founded in 1987 by Tony Smith and Peter Myers, the multi-award-winning innovators have focused on designing disruptive technology for network operators, government agencies, law enforcement, military, and search and rescue (SAR) organisations.
The successful business model includes partnering with aircraft and ground-based vehicle OEMs (Original Equipment Manufacturers) and integrators, including some of the world’s largest organisations.
...
How our emerging policy proposals will help the EOA unlock the full potential of #TheEOeffect | CEO blog
Blog by Employee Ownership Association (EOA) Chief Executive James de le Vingne
This year we will celebrate the 11th annual EO Day on 23 June with the theme of #TheEOeffect.
As we gear up for our big national day – when we will showcase the impact employee ownership has on employees, business, the wider economy, communities and the environment – I reflect on what the EOA has planned to further grow and strengthen the employee ownership sector.
Our three priority areas
In establishing the effect EO has on businesses, employees, and our wider economy and communities, one of our key priorities will be to represent the sector by engaging with ...
National business that provides skills and services to local councils becomes majority employee owned to ‘empower the people who helped make it successful’
The Employee Ownership Association (EOA) congratulates LGRC Associates Ltd after it announced it has become majority employee owned.
The Bristol-based business, which was founded in 2014 by a small group of three directors, is the leading provider of temporary skills, resources and expertise to the local council sector.
LGRC has been operating with a highly successful shadow arrangement in place for the last 12 months to ensure a smooth transition to employee ownership.
Over the same period, the company has grown significantly, consolidating its position as the leading provider of locum and consultancy services to councils in England.
Fo...
Leading furniture manufacturer transitions to employee ownership to ‘maintain collaborative way of working’
The Employee Ownership Association (EOA) congratulates Opus Magnum on its transition to employee ownership.
The London-based business, which designs, crafts and installs bespoke furniture and fittings for complex and large-scale commercial spaces, said in a statement that the transition “will enable us to maintain our collaborative way of working and continue to produce high quality furniture into the future in a way that might not have been guaranteed in a trade sale”.
The company’s two founders, Chris Turner and John Baulkwill, have transferred 100% of the share capital to an Employee Ownership Trust (EOT) where the beneficiaries are all ...
Employee trustee case study: Why it’s important to upskill yourself when starting this role on an EOT board
In this co-written guest blog, Rachel Hollister-Short and Alice Crowe from employee owned Ecctis offer insights on stepping up to become employee trustees and how attending the EOA’s Employee Trustee course gave them the confidence to have a voice. Ecctis is a provider of solutions and services in international education, training, and skills, and in the development and recognition of globally portable qualifications. It transitioned to EO via an Employee Ownership Trust (EOT) in February 2021, with Information Officer Alice and Head of Membership Services Rachel being elected as employee trustees in October 2022 as two of the five people on the EOT ...
Leading sports-specialist marketing agency that worked on London 2012 Olympics transitions to employee ownership
Pitch Marketing Group, a leading integrated marketing agency building brands that people can be passionate about, has announced it has transitioned ownership of the business to an Employee Ownership Trust (EOT), enabling its employees to have greater involvement in the future success of the business, and to ensure the long-term growth of the agency.
Pitch was founded by Henry Chappell in 2002, with the backing of Freud Communications. The agency was one of the UK’s first sports-specialist comms agencies, and established itself as a market leader in the sector through its high-profile work for the London 2012 Olympic and Paralympic Games.
Henry ...
Why employee ownership proved the ‘perfect solution’ for Welsh company Celvac in its 30th year
The UK’s leading industrial cleaning and waste recovery services specialists reveals employee ownership was the “perfect solution” after it announced its transition to EO.
Welsh company Celvac was established in Pembrokeshire in 1993 by Kim, Joan and Nigel Beynon, but 30 years on will now be owned by its 68 staff members via an Employee Ownership Trust (EOT).
The company has its main manufacturing facility and head office in Tenby, but also has bases in Port Talbot, Connah’s Quay and Slough, as it works throughout the country providing expert services to the UK water, petro-chemical, construction, manufacturing, refining and food ...
10 things to consider when embedding your employee ownership culture globally | EOA Big Read
Employee owned businesses with international operations have shared examples of how they go about embedding their employee ownership culture with staff not based in the UK.
Here, three of our members highlight lessons learnt and challenges faced, and share their tips for ensuring EO is embraced and understood among employees based overseas.
To help EO businesses thinking about expanding globally – but nervous around acquiring or starting international operations and embedding their EO culture – we wanted to showcase how businesses of different sizes, with different employee ownership models, go about this in a practical and operational ...
Specialist technology recruiter becomes employee owned to ‘secure future for the benefit of loyal workforce’
The Employee Ownership Association (EOA) congratulates Vector Resourcing after it announced that its current shareholders have sold 100% of the business into an Employee Ownership Trust (EOT).
The specialist technology recruiter, which was founded in 1997 and is headquartered in East Sussex, has 26 years of experience supplying technology and business change resource to a diverse client base across the UK and Europe.
The decision to become employee owned came after several offers to buy the business were proposed to the MD, Donna Medway, who believed that there was a better way to “secure the future of the company for the benefit of our loyal ...
Why businesses from a diverse range of sectors are switching to employee ownership | RVE guest blog
The employee ownership sector has been booming in recent years, with companies across a broad range of sectors continuing to switch to employee ownership. The five RVE clients that converted to EO via an Employee Ownership Trust (EOT) in the first quarter of 2023 are a perfect illustration of the variety of businesses switching to a model that gives all staff a stake in the business.
These five companies were valued at c.£100m in aggregate, employing over 150 staff between them (now partners), and operate in a diverse range of sectors:
Manufacturing
Wholesale
Construction
Financial services
Infrastructure project consulting
A ...
CEO Blog: Access to patient capital for employee owned businesses is just the ‘rocket fuel’ the UK economy needs
Blog by James de le Vingne, CEO of the Employee Ownership Association
Employee ownership (EO) has been brought to the forefront of many minds by the recent media coverage around the John Lewis Partnership's plans for the future, and the possibility that they are considering selling a stake of their currently 100% employee owned business to external investors.
We don’t comment on individual members' trading or media stories at the EOA, so I won’t be speculating about what John Lewis should decide to do. However, I want to use this opportunity to highlight the importance of access to capital for employee ...
Why this year’s EO Day theme – #TheEOeffect – is close to our hearts as we become 100% employee owned | Postlethwaite guest blog
Guest blog by EO Day 2023 sponsor Postlethwaite Solicitors
At Postlethwaite Solicitors, we are proud to be sponsoring EO Day 2023, particularly as we’re celebrating a couple of big milestones ourselves this year.
April marks Postlethwaite’s 20th anniversary, and we’ve also just become 100% employee owned through an EOT, so double celebrations are in order!
“This year marks a very exciting chapter for Postlethwaite Solicitors, and we are delighted to mark the occasion by sponsoring this year’s EO Day,” our founder and MD, Robert Postlethwaite, said about our transition.
“As always, EO Day is a great opportunity to reflect and ...
Industry-leading technology solutions business ‘opens up opportunities’ as it transitions to employee ownership
Bolton’s TVD Group, encompassing TVC Technology Solutions, Mitchell & Brown TV, and TVD B2B, has moved to being majority employee owned, supported by funding from Natwest Bank.
Following another record-breaking year, the industry-leading technology solutions business has facilitated the transition of a 51% stake in the company to employees, with the Brown family retaining a 49% share.
The arrangement sees the creation of an Employee Benefit Trust (EBT) that holds shares of the business on behalf of employees, with every member of staff with 12 months of continuous service becoming a co-owner of the business.
The move follows other ...
Our top four reflections from the Spring Budget
In the 2023 Spring Budget, an extensive range of measures were introduced to meet the government’s priorities: halving inflation, reducing debt, and growing the economy.
We’re pleased to see a number of these measures, particularly those aiming to support people and businesses through the cost-of-living crisis, whilst also recognising missed opportunities here that government could have taken, and still can take in the future.
Here are our top four reflections for the EO community:
1. Positive news for EMI share schemes, plus a call to evidence on SIP and SAYE
Employee owned businesses (EOBs) that use Enterprise Management Incentive ...
Why transitioning to employee ownership was the best option for high-growth IFA | Guest Blog
In this guest blog, EOA supporter member ThinCats takes a closer look at the motivation for high-growth independent financial advisors (IFA) Cheetham Jackson (CJL) to make the transition to employee ownership, and why it sought external finance to fund the move to an EOT.
Employee Ownership Trusts (EOTs) are often recognised for their tax-saving advantages, but this misses the bigger picture. There are much broader benefits to taking the EOT route, and selecting this model is frequently based on ‘philosophical’ considerations as much as financial ones. There is also a lack of awareness around the various options available to fund the transiti...
Decorative surface distributor owned by four generations of the same family ‘repays contribution’ of employees by transferring ownership to an EOT
The Employee Ownership Association (EOA) congratulates Blackheath Products after it transferred ownership to an Employee Ownership Trust (EOT).
The Halesowen-based worktop and decorative surface distributor, which has been owned by the same family for over four generations, was previously a private limited company but has now given back to its employees via an EOT.
Blackheath Products holds over £7.5million of worktops, decorative laminates and solid surfaces, which it distributes to kitchen centres, shop fitters and furniture manufacturers across the UK and Ireland.
Mark Murphy, managing director of Blackheath Products, said: “This is ...
International Women’s Day: EOA shines spotlight on employee-owned businesses that put gender parity front and centre
To mark International Women’s Day 2023, the Employee Ownership Association (EOA) is shining a spotlight on two of our member businesses that are setting great examples when it comes to gender parity.
International Women’s Day celebrates the achievements of women and calls for gender parity as part of its mission to forge a gender equal world – with the theme this year being #EmbraceEquity.
Richmond & Towers
The London-based communications agency specialises in brand engagement, mainly in the food and drinks sector. It runs award-winning campaigns for clients to help “influence the way people eat and drink”, for example coining the ...
Why we resisted a trade sale to transition to employee ownership | Guest blog by Chartered Financial Planners Grierson Dickens
Guest blog by Surrey-based Chartered Financial Planning firm Grierson Dickens Limited (GDL), which transitioned to employee ownership on 1 March 2023, via an Employee Ownership Trust (EOT).
Over the last 24 years, we have built many lasting relationships with clients and professionals; we are incredibly proud of the business we have grown, and the talent we have nurtured.
For several years now, a focus of ours has been to prepare for the long-term future of GDL, and we have considered many options. At the heart of our decision, as it has always been, is doing what is best for our clients and employees, whilst protecting the long-term viability ...
Sewell Estates takes first step on employee ownership journey to secure long-term future and protect its culture
The Employee Ownership Association (EOA) congratulates Yorkshire-based Sewell Estates, part of the wider Sewell Group, on becoming part employee owned.
In a move to secure the long-term future of the business and protect its culture, majority shareholder and Group Chair Paul Sewell has moved 25% of the company’s shares into a trust.
Almost 300 people who work across Sewell Estates’ seven businesses are now co-owners, meaning they will have a greater say in how the business is run and the potential to share in any company profits.
Paul Sewell said: “I have always believed in employee ownership – that employees make or break a ...
Robert Oakeshott Lecture provides ‘food for thought’ on employee ownership being a ‘powerful starting point’ to help redesign business
The 10th annual Robert Oakeshott Lecture, sponsored by Brabners, took place on 15 February at Bayes Business School in London, bringing together more than 140 attendees from across the EOA membership, as well as friends and relatives of the EOA’s late founder.
The EOA’s annual lecture commemorates and celebrates the life, legacy, and work of its founder, and employee ownership pioneer, Robert Oakeshott.
Attendees at the lecture remarked that Kate Raworth’s guest lecture was “thought-provoking”, creating a “palpable sense of ‘wow’ throughout the room”.
Stephen Hadlow, Partner at law firm and EOA supporter member Brabners ...
Employee ownership and immigration law: What is the impact on your sponsor licence if your business moves to an EOT?
Becoming employee owned via an Employee Ownership Trust (EOT) usually means “business as usual” as far as customers, suppliers and employees are concerned. This is an advantage of the trust model of employee ownership.
There will, however, be a change of controlling shareholder, which can have regulatory and commercial implications. Fieldfisher’s multi-disciplinary Employee Ownership Solutions team has seen how this can lead to an immigration law issue.
If a company holds a sponsor licence, under the Skilled Worker Visa category or other sponsorship route, it is vital action is taken in respect of their licence when the controlling ...
Why learning leadership skills is so important for everyone in an employee-owned business, not just managers
Guest blog by Coralie Hooper, consultant at employee-owned Telos Partners who is also the course co-director on the EOA’s Empowering Leadership course
I often get asked, ‘how do you help employees act like co-owners?’
I think a lot of the challenge is that employees don’t really know what it means – they don’t know what it is to have their own business.
Being part of an employee-owned business is about much more than just about the profit share, it’s understanding that it’s ‘my business now’ and that there’s accountability and responsibility that comes with that.
The EOA’s Empowering Leadership course, which I ...
Kudos Records becomes the UK’s first 100% employee-owned music distribution company
Employee Ownership Association (EOA) member Kudos Records Limited has announced that it has transitioned to a 100% employee-owned enterprise.
The entire share capital of the London-based business has now been sold to a newly formed Employee Ownership Trust (EOT).
As beneficiaries of that Trust, each employee automatically becomes a co-owner in the business. As well as immediately benefiting from profit distributions, employees also have more input into the running of the company.
Kudos founder Danny Ryan will remain with the company as MD for at least the next five years, seeing it through this transition.
He said: “Kudos Records has ...
Technology software recruitment consultancy creates Employee Ownership Trust to ‘connect long-term future of the employees and Group’
Specialist technology software recruitment consultancy Understanding Recruitment Group has formalised its move to an Employee Ownership Trust (EOT), making its staff a 60% stakeholder in the business.
This decision has been made to “connect the long-term future of the employees with the long-term future of the Group”, while also protecting and enhancing the business culture that has been at the core of the success.
The sale by the Board of the Understanding Recruitment Group is designed to allow employees to take a stake in the business and share in the longer-term growth and financial success, ranging from six to seven-figure pay-outs.
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MM-Eye starts ‘new chapter’ as it becomes latest market research agency to transition to employee ownership
The EOA congratulates member firm MM-Eye after it announced “a new chapter in our story” by becoming employee owned.
The London-based market research agency finalised its transition to employee ownership on January 11, meaning all its employees will now have a say in how the business is run and will share in the profits it generates.
MM-Eye was formed 15 years ago and has transitioned through several owners, most recently being acquired in 2020 by its longstanding management team.
Damien Field, Alison Phillips and Deborah Fitzpatrick, the directors who secured the company’s independence in 2020, will remain in their operational roles ...
Employee ownership: Strengthening your board to lead in a recession | J Gadd Associates Guest Blog
Uncertainty, instability, change. It’s a turbulent time to transition to employee ownership (EO) and the pressure is here to stay.
So, if you’ve chosen this path for your succession planning, how can you prepare your business to survive a recession once it becomes employee owned?
Most company founder/owners start by sourcing the expert legal and financial advice they need. They use this to confirm their underlying business is fit for purpose pre-transition, and secure an up-to-date valuation to satisfy accountants, the executive board and HMRC.
These are essential first steps, but there’s more to becoming EO than a signature on a piece ...