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 STAR-Dundee, which
was sold to the employees by founding academic, Prof Steve Parkes last year,
selecting the right succession option was vital to retain and strengthen the
culture and ensure that it always has a base in Dundee.
Commenting
on the decision, Stuart Mills, STAR-Dundee’s new CEO, said: “STAR-Dundee has
been a great success because of its people.
Our move to employee ownership allows these individuals to have a
greater say in the running of the company and to further benefit from the
company’s success.”
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.
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.
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