The seminar explored the rapid growth of employee ownership and how this type of business model can help local organisations to flourish in the current economic climate.
In the UK, employee-owned businesses produced a combined annual turnover of over £15 billion, making up 3% of GDP in 2013. The economic contribution of employee ownership in the UK is growing significantly as an increasing number of businesses are considering this model as a useful means of furthering their growth.
A key speaker at the event was Gary Davie, a corporate partner at Shakespeares and trustee of the employee-owned business Cambridge Weight Plan.
He said: “The event provided a great opportunity to explore some key issues for employee-owned businesses. Delegates who attended were from a wide variety of industry-sectors, including business owners already on the road to employee ownership and others who just wanted to learn more.
“Employee ownership can bring with it higher productivity, greater levels of innovation and also a more engaged workforce. These are just some of the reasons that a growing number of businesses are making the transition.”
Keynote speakers included Mike Thompson, chief executive of Childbase, a national nursery chain which is now 70% owned by its employees since making the transition in 2001 and Deb Oxley, director of Membership Employee Ownership Association.
Pictured: (from left) Mike Thompson, Deb Oxley and Gary Davie.