Connect Three is proud to be an SfEO Advocate for employee ownership in Scotland! Yey! No idea why we’re so excited? That’s ok, let us explain:
What is Employee Ownership?
Employee Ownership (EO) means that all employees have a ‘significant and meaningful’ stake in a business. That means that employees must have both a financial stake in the business (e.g. shares), and a genuine say in how it is run. Right now, there are around 120 employee-owned companies operating in Scotland, with approximately 7,500 employee-owners generating a combined turnover of around £950million. (Source: CDS Database)
As well as having obvious benefits for employees, EO allows business owners to manage their exit and achieve fair value while safeguarding the long-term future of the company.
Who are the SfEO?
Scotland for Employee Ownership (or SfEO) is an industry leadership group launched by Scotland’s First Minister in 2018. The group wants to make Scotland the best country in the world for establishing and growing employee-owned businesses.
The group has created an industry strategy that supports the advancement of thriving, self-sustaining employee-owned businesses in Scotland to the benefit of all present and future employees, and the economy where these businesses operate.
The group is made up of senior figures in the Scottish business world (including representatives from Scotland’s top employee-owned businesses), as well as key organisations including the Scottish Government, Co-operative Development Scotland and the Employee Ownership Association.
Their vision is that Scotland will be the global EO centre of excellence and success, and to see 500 employee-owned businesses operating in Scotland by 2030, as well creating the best environment for EO businesses to thrive.
So what’s an SfEO Advocate?
All these great ideas will only be implemented if there are people across Scotland who are willing and able to help. As part of the Advocate Programme, the Connect Three team is here to share the success stories, raise awareness and help to equip businesses with the key information, data and tools that they need.
If you would like to find out more about Employee Ownership, please get in touch with Connect Three today by emailing firstname.lastname@example.org.