First Minister Nicola Sturgeon MSP has announced the creation of a new leadership group for employee-owned (EO) businesses, backed by £75,000 from the SNP Government.
‘Scotland for EO’ aims to increase the number of employee and worker-owned businesses in Scotland from around 100 to 500 by 2030. There are currently an estimated 7,000 employee-owners in Scotland, generating nearly £940 million for the Scottish economy.
The First Minister made the announcement while on a visit to the Auchrannie Resort, one of Scotland’s leading employee-owned business, based in Brodick on the Isle of Arran.
Co-chaired by Jamie Hepburn MSP, Minister for Business, Fair Work and Skills, the group will seek to transform Scotland into a world leader in employee ownership and other co-operative models.
Evidence shows that these models perform well in terms of productivity, inclusion and innovation, and there is less likelihood of them moving operations outside Scotland.
The First Minister said:
"All the evidence tells us that employee ownership delivers benefits to business performance, the people who work in them and the places in which they are located. This has certainly been the experience of the Auchrannie team in Arran.’’
“Scotland for EO will help to make this into a real option for businesses across Scotland.”
Kenneth Gibson MSP added:
“Employee-ownership has proven to be very successful at Auchrannie Resort, where the process has been instrumental in protecting the ethos and legacy of the company, while the group’s 160 employees have been empowered to bolster the resort’s success.
“I am delighted that the SNP Government will work with industry partners such as Co-operative Development Scotland and leaders of EO businesses, to foster a positive environment for more businesses to make the leap into employee-ownership.”