Welsh firms urged to consider employee-ownership

Posted on 10 Aug 2019 and read 524 times
Welsh firms urged to consider employee-ownership A new campaign was recently launched to encourage more Welsh businesses to consider the employee ownership (EO) approach to succession planning.

Two businesses that have already switched to EO in the last year are Aardman Productions (the creator of Shaun the Sheep) and Cwmni Da, the Caernarfon-based TV company that has produced many shows for S4C.

David Sproxton, co-founder of Aardman (www.aardman.com), said: “I wholeheartedly encourage Welsh businesses to see EO as a real succession solution.

“Employee-owned companies have been shown to be more successful than other more conventionally structured companies, so we felt this was the right way to ensure the future success of the studio and for team members to share in the benefits they create.”

Glenn Bowen, director of enterprise at the Wales Co-operative Centre (www.wales.coop), said: “EO is a concept that is gaining momentum across the UK.

The benefit for Wales is that employee ownership is a succession option that helps to keep jobs and wealth in the community for the long term; it also creates higher levels of staff well-being and productivity.

"We run the Social Business Wales project, which is behind the Think Employee Ownership campaign, and we would encourage anyone who thinks this approach might be for them to get in touch.

“With high-profile businesses like Aardman and Cwmni Da speaking out about the benefits of employee ownership, we hope more Welsh businesses will think about it as a realistic alternative to conventional exit plans.

"Free support is available from Social Business Wales to help companies consider the different legal structures, but the Think Employee Ownership Campaign is also targeting solicitors and accountants, to help educate them as to the benefits of EO.”

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