The number of employee-owned businesses in Wales has hit 100, confirming the Welsh Government’s commitment to the employee ownership model and the benefits it provides for both the economy and communities across Wales.
The number of employee-owned businesses in Wales now far exceeds the Programme for Government commitment to double the number in Wales and reach 74 by 2026.
The Welsh Government’s Business Wales and Social Business Wales service offers specialist advice to support employee buy outs, and Cwmpas receives Welsh Government funding to promote the benefits of employee ownership in Wales.
Anglesey-based BIC Innovation became fully employee owned via an Employee Ownership Trust (EOT) with the support of Cwmpas earlier this year.
The consultancy firm, which specialises in innovation and growth and also has an office in Bridgend, initially transitioned to become an employee owned business via a share ownership scheme in 2018. The EOT now runs the business for the benefit of its employees, giving them a stronger voice in its future direction.
For further information please select the following link: Number of employee-owned businesses in Wales hits 100 | GOV.WALES.
Employee ownership means all employees have a significant and meaningful stake in the business.
If a controlling stake of your business is held by, or on behalf of, all employees (the employee owners), this is called an employee owned business. Visit the Employee Ownership Wales website for fully-funded, bespoke advice on Employee Ownership, Share Schemes and succession planning options your business.