Finance symposium set to address the opportunities and challenges for the EO sector

The EOA, supported by Unity Trust Bank, is hosting a finance symposium to discuss opportunities and challenges for the EO sector.

The event aimed at financial institutions will share the latest research and evidence on employee ownership finance.

Hosted at the ICAEW’s Chartered Accountants Hall in London, the invite-only symposium is aimed at representatives from the UK’s main banks, challenger banks, funds and professional advisers.

Those attending will hear from employee owned businesses Richer Sounds and Cambridge Weight Plan about their experiences of funding.

Attendees will also receive copies of a new report from leading think tank, Ownership at Work, and hear from its authors – industry experts Baxi Partnership and Capital 4 Colleagues – about the opportunities and challenges for finance in this rapidly growing sector.

The symposium is also an opportunity for those attending to share ideas on policies and action required to transform the role of finance in this sector with Baroness Sharon Bowles of Berkhamstead.

Baroness Bowles chaired the Ownership Effect Inquiry that resulted in findings and an action plan being published in the 2018 business backed report The Ownership Dividend. The inquiry revealed that awareness of EO amongst professional advisers and funders was one of the biggest barriers to seeing faster growth for the sector.

Deb Oxley OBE, Chief Executive of the EOA, said: “A key recommendation and part of the action plan from the Ownership Dividend was to better understand the finance related issues for businesses looking to transition to employee ownership and the opportunity to improve this.

“With thanks to all of our contributors, and the support from Unity Trust Bank, we hope that this event will stimulate conversations and support the development of solutions that better support the growth of the employee owned sector.”