The benefits of businesses being bought out by employees are being celebrated - as the number of employee-owned businesses in Wales nears 100.
Today is Employee Ownership Day and research shows that employee-owned businesses perform particularly strongly, with employees demonstrating greater engagement and commitment.
The commercial benefits are also becoming increasingly popular with entrepreneurs creating new businesses, to help attract and reward talented employees and drive business growth.
The number of employee-owned businesses in Wales now stands at 95, far exceeding 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, with fully funded and bespoke help available to help business owners decide if employee ownership and share schemes are the right solution for their business.
One company to receive such support is Cambrian Training Group - a leading provider of apprenticeship and vocational training across Wales.
The Welshpool company, which marked 30 years of business by becoming employee owned earlier this year, was established in 1995 as a subsidiary of Mid Wales Tourism to deliver vocational and hospitality skills as part of the development of the region’s tourism sector.
It now employs 65 staff and has expanded its work-based learning, skills and apprenticeship programmes into a range of other sectors, including manufacturing, retail, and financial services.
For further information please select the following link: Number of employee-owned businesses in Wales nears 100 | GOV.WALES