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Business advisors gather in Cardiff to discuss employee ownership as an alternative business succession solution

Press Release   •   Jun 07, 2013 09:50 BST

Business mentors, advisors and owners will join together this month for a one-off conference to discuss the opportunities for developing employee ownership in the private sector in Wales this month. The event, ‘Employee Ownership: Solutions for the Private Sector’, will offer an insight into developments in Employee Ownership coming from the UK Governments Employee Ownership Implementation Group.

The event on the 28th June is staged as a pre-cursor to the national Co-operative Congress which takes place in Cardiff from 29th – 30th June.

Employee ownership offers an alternative approach to exit planning that can ensure that a business is passed on to employee teams who understand the business and have a vested interest in its future success. A well implemented transition can also ensure the owner receives fair recompense for their business. It is estimated that a fifth of small business owners in Wales have owned their businesses for over 20 years. In rural Wales that number is higher still. Planned succession is essential in a country dependent on its SMEs and Micro-Businesses for over 60% of its employment.

This event will equip delegates with the latest thinking and developments in Employee Ownership from experts and practitioners at the forefront of employee ownership business development and guidance. Speakers include Business Succession experts from the Wales Co-operative Centre, Barry Wise from employee owned Aber Instruments & Steve Meredith from PrimePac Solutions Ltd, a worker co-operative based near Ebbw Vale.

Industry experts and business owners and employees who have embraced the employee ownership model will present on

  • The importance of succession planning
  • The employee ownership opportunity for the Welsh Economy - The UK perspective.
  • Potential tax and company structure changes for employee ownership
  • Managing the employee ownership transition

The event will offer delegates the chance to discuss how to raise awareness of the employee ownership opportunity in Wales in round table discussions and question and answer sessions.

Employee Ownership: Solutions for the Private Sector

Friday 28 June 2013,

Swalec Stadium, Cardiff

Premier Suite,

National Cricket Centre

10.00am – 2.00pm 1pm Lunch

Tickets for this event are available online at www.walescooperative.org or by calling 0300 111 5050

Ends

 

Wales Co-operative Centre

The Wales Co-operative Centre was set up thirty years ago and ever since has been helping businesses grow, people to find work and communities to tackle the issues that matter to them. Its advisors work co-operatively across Wales, providing expert, flexible and reliable support to develop sustainable businesses and strong, inclusive communities.

www.walescooperative.org

For further information on Employee Ownership and Business Succession in Wales, please access http://www.walescooperative.org/employeeownershipreport.

This report highlights the dangers facing the Welsh economy of an ageing population of business owners. Owners generally do not prioritise time for succession planning and have a very low awareness of the probable pit-falls of their available business succession options in the current economic environment. The report examines the opportunities afforded by different forms of employee ownership, as a form of exit strategy that has strong benefits for both the owners and the employees.

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