Wider employee ownership will benefit employees, businesses and the wider economy, bringing the potential for higher productivity and profitability. It also helps businesses retain skilled people and recruit new talent.
Employee Share Ownership Schemes (ESOS) allow employees to acquire equity in the business and, typically, in a very tax-efficient manner. However small the equity, it encourages employees to think like business owners and consider long-term performance as they will share the rewards.
Employee ownership can also be an excellent choice for owners wishing to sell their business. Selling the majority of shares to an Employee Ownership Trust (EOT) ensures they sell to people they know and trust, who share their desire to succeed.