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EFES NEWSLETTER - MARCH 2024
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In
just a few years, Great Britain has established itself
as Number One in Europe for employee ownership in SMEs.
In 2023, 410 businesses were transferred to employees.
More than one SME every day, - 620 companies if we include
subsidiaries.
Thus for seventeen business transmissions, one was to
employees. A year ago, it was still only one in twenty.
The ratio of one in ten is now on the horizon.
At the origins of this success, the introduction of
the Employee Ownership Trust scheme in 2014.
An employee ownership scheme which allows employees
to buy their company as a collective.
In this way, no British employee had to invest their
own financial means, their savings. No financial risk
for employees.
On average, the value of each business transmission
in 2023 amounted to 3.8 million Euros and the number
of employees to 83, or nearly €50,000 per person.
It is clear that individual employee share ownership
is not within reach of such amounts.
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Press review
A
selection of 24 remarkable articles in 8 countries in February
2024: Canada,
Czech Republic, Germany, France, India, Slovenia, UK, USA.
Canada: The new Employee Ownership Trust scheme is in
force since January 1st to promote business succession
plans for SMEs.
Czechia: Czechia: Intense lobbying for stock options
in startups - new legislation does not meet expectations.
Germany: Viadee is an example of business transmission
to employees in a German SME.
France: New employee share plan for Carbios.
India: This is called an ESOP plan in India.
Slovenia: The campaign for stock options in startups
also in Slovenia.
UK: Thanks to the Employee Ownership Trust scheme, every
day a new SME is transferred to employees. This month, among
others, the case of: Livingston James Recruitment, Key Production
Music, Prima Bakeries, Blue Flame Energy, Purplefish PR, Genesis
Clothing, Lingfield Equine Vets, Port-P IT solutions. John Lewis
Partnership ahead of mass job cuts.
USA: Teamshares finances business transmission to employees.
Crossplane Capital is another new private equity partner for
business transmission to employees. Common Trust is a new platform
for business transmission through Employee Ownership Trusts.
The full press review is available
on:
https://www.efesonline.org/PRESS
REVIEW/2024/February.htm
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A
political roadmap for employee ownership in Europe
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