Advantages of EO
The employee owned business sector in the UK is growing because co-owned companies tend to be successful, competitive, good to work for, and sustainable.
Successive Governments have promoted employee ownership because they recognise its potential contribution to the economy.
A range of factors combine to make employee owned businesses an asset to the UK economy:
- Independent research suggests that a combination of shared ownership and employee participation delivers superior business performance.
- Because they're co-owners, staff in employee owned businesses tend to be more entrepreneurial and committed to the company and its success.
- Because they're run in an open way, employee owned businesses tend to have a strong commitment to corporate social responsibility and involvement with the communities they operate in.
- The employee owned business sector adds to the diversity of Britain's economy - by offering a vibrant and different model for achieving business success.
- Because they have high employment standards, involve staff and give everyone a stake, employee owned businesses are good at recruiting and retaining talented, committed staff.
- Employee owned companies are good at innovation because managers go out of their way to consult, share information about the company, and give staff responsibility.