From a jumping off point of 152 medium-to-large employee owned businesses (EOBs), the sector now boasts hundreds of EOBs of all sizes, represented in most UK industrial sectors and regional economies.
By design, the EOT encourages long term employee ownership, incentivised by a sale free from capital gains tax and up to £3,600 tax free for employees in dividend payments.
Recent research shows both the impact it’s had in supporting livelihood outcomes and economic security in regional economies.
When our Chief Executive James de le Vingne joined the association in 2022 as the sector hit the milestone of 1,000 EOBs, he mused what it would take to create twice the growth in half the time.
Doubling the number (1,030) in half the time from 2022 (5 years) equals 2060 EOBs by 2027, doubling the percentage growth (91% to 182%) gives us 2,904, and taken to the Nth degree, doubling the average annual growth would equal to 6,827 by 2027… the latter a perhaps a stretch too far without significant and far reaching interventions!
However, sounding way less ambitious, just maintaining the average growth of 23% a year would see us reach 2899 by 2027, or sustaining the higher average growth rate of 28% since 2021 gets 3,536, or nudging up to our highest growth year of 30%, we would reach 4,968 by 2027, then 9,554 in half the time again in 2029.
James said: “The achievements of the past decade, and the momentum we have today, are built on the eoa’s long-term relationships with tenacious pioneering founders, advisers and EOB leaders from our membership.
“To simply sustain this momentum will need significant continued efforts, and a future-proofed EOT.
“To nudge the momentum further and amplify the benefits these EOBs deliver, we need clear government leadership and support as set out in the eoa Manifesto.”
Today we celebrate ten milestones the EOT has supported to gain the momentum and impact of EO in the UK today: