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The new "Annual Economic Survey of Employee Share Ownership in European Countries" is just released
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  Employee share ownership in Europe in 2023

• Recent data on employee share ownership in Europe confirms the major trends noted over the last ten years. Employee share ownership in large European companies is deteriorating. The main factor in this deterioration has now been clearly identified.

• On the other hand, the dynamics of employee share ownership in Europe are shifting towards SMEs. In just a few years, the UK has established itself as Europe's number one country for employee ownership in small and medium-sized companies.

• Why this falling off? It is a sign that employee share ownership plans are becoming less and less effective. The national fiscal policies that support them have reached their limits.

• Overall, employee share ownership policies, because they remained national, have lost 30% of their effectiveness in a few years. This explains why recent legislative efforts in several countries (Pacte Law in France, fourfold increase of tax incentives in Germany) have not had any significant impact on employee share ownership in large companies.

Press release   

Press review
A selection of 26 remarkable articles in 7 countries in March 2024: Belgium, Finland, France, Italy, Japan, UK, USA.
Belgium: The practice is spreading of using a “private foundation” to manage the ownership of a company, as can be done elsewhere with an ownership trust.
Finland: Employee share funds have taken off in Finland.
France: How to extend employee ownership to SMEs in France? New employee share plan for Riou Glass, first international plan for Legrand. The success of workers cooperatives for business rescue.
Italy: EssilorLuxottica, Unicredit, Prysmian, who else? Employee share plans remain too rare in Italy.
Japan: Expanding employee ownership from the US to Japan.
UK: Thanks to the Employee Ownership Trust scheme, every day a new SME is transferred to employees. This month, among others, the case of: Keppie Design, AC Plastics, Lingfield Equine Vets, Parfitt Cresswell Law Firm, Frosts Landscape Construction, Kinetics Controls, Fenchurch Law, E&O Laboratories, Bettina Klimek Jewellers. Ten key questions answered about Employee Ownership Trusts.
USA: ESOP bingo. After ESOP plans, Employee Ownership Trusts are gaining ground in the US.

The full press review is available on:


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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
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EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee share ownership and participation in Europe.