Selling your Business? Why not sell to your employees?
Planning for succession is one of the biggest challenges a business owner will face, and despite the fact that giving the topic early consideration can mean better results for the employer, the employees and the business, many delay.
Instead of viewing succession planning as a daunting task, Scottish Enterprise is encouraging businesses to see the potential for change as an opportunity to secure their business’ future and improve its performance.
As a succession solution which can bring a host of benefits, employee buyouts are becoming increasingly popular in Scotland. Becoming employee-owned gives staff a meaningful stake in the business, boosting productivity and performance, whilst ensuring the company is anchored in the local area, retaining jobs and skills.
For Jerba Campervans, which was sold to the employees by husband and wife team Simon Poole and Catherine Brookes earlier this year, selecting the right succession option was vital to maintain the intimate approach and the niche upon which the business was founded
Commenting on the decision, Simon Poole said: “Employee ownership is an excellent business model which benefits everyone. Catherine and I can continue with our day to day roles in the business for as long as we need to, with the knowledge that the future is taken care of, while our employees are given a stake in the business and a say in how it is run. Not only do we envisage this driving job satisfaction, productivity and innovation, it ensures that the business’ unique ethos is preserved.
To help business owners decide whether an employee buyout could work for their business, Scottish Enterprise will be hosting a series of ‘Selling your Business’ workshops over the coming months, exploring succession options including employee ownership.
If you are a business owner considering an exit from your company, these workshops are an excellent opportunity to hear from succession and employee ownership specialists, as well as employee-owned companies themselves. View the full programme of workshops.
Edinburgh, 27 September 2018
Hear why campervan specialist Jerba Campervans and healthcare association management company Fitwise sold to their employees, and get expert advice on the EO model from Co-ownership Solutions.
Dundee, 23 October 2018
Oil and gas engineering consultancy Merlin ERD and aerospace engineering company STAR Dundee explain why they chose an employee buyout, while law firm Blackadders gives guidance for business owners looking for an exit strategy.
Glasgow, 20 February 2018
Discover why luxury resort Auchrannie and design and digital agency P4P sold to their employees and get expert advice from Co-ownership Solutions.
Whether you’re looking to exit your business imminently or in the more distant future, it’s never too early to start exploring your options.