Specialist Adviser - Wrigleys Solicitors LLP

A specialist law firm focussing on all aspects of trust law, working for purpose driven business, charities, social enterprises and family businesses across the United Kingdom.  The Employee Ownership team at Wrigleys sits within the Charities and Social Economy team and has many years of experience advising smaller, purpose driven, social enterprises and family businesses on the transition to employee ownership.

Wrigleys has been meeting the needs of individual businesses and owners that are purpose driven or that are looking to make a contribution to their wider community from wealth and inheritance planning, employee ownership transition, through to embedding good governance for 30+ years.

In Legal Directories, Chambers and Partners records client comments on the firm’s ability to “grasp complexity, advise wisely and communicate this succinctly and clearly”  and “offer good-quality, excellent advice at an appropriate price.”

Wrigleys have played a consistent and key role in supporting the eoa and the EO sector, including the think tank Ownership at Work, being part of the conferences, events, webinars and workshops to further the growth of the EO sector and support the creation of more employee owners in the UK.

In Our Words – What We Do and Why

“We like to support businesses that can make an impact.

“We know that change can be daunting, and one where you hand over a significant ownership stake to your employees may feel like a huge step for the owner, managers and employees and managers.

“However, all you need to bring are your goals and what makes your business special  We can guide and support you through the rest to build a bespoke project plan and enable you to understand the advantages and risks of that process.

“From the paperwork that supports the transaction to the advice that supports a successful approach and foundations to develop key employee ownership practices in the business, you’ll have a single point of contact to make sure there is a smooth delivery of support.”

Our Key Services and Expertise

• Creating a suitable and sustainable model for your employee ownership transition and structuring the right type of transaction for your business.
• Building confidence at founder, and senior management level, alongside that of the employees, that the transition is the correct route for the business.  Helping to make sure the process is collaborative and that employees are actively engaged.
• Discussing the appointment of an independent trustee director and how to integrate them into the decision-making process to build transparency and further good governance.
• Supporting business owners to understand the potential cultural change for the business
• Develop an understanding of how business succession can make a contribution to the wider community – as employee-owned businesses, charitable foundations and/or gaining and maintaining good business accreditations such as becoming a B Corp.
• Advising on all aspects of trust law, trustee duties and governance and the make-up of a good EOT board.
• Embedding good governance and values throughout the management and organisational structure that supports effective employee engagement.
• Support with wealth management, inheritance and tax planning for owners and new directors.
• Advising community interest companies and niche and specialist areas such as dentists or public sector entities on employee ownership succession.
• Preparation of EOT Tax returns and trust administration.

Top Tips

1. Employee Ownership does not need to be complicated, it just needs to work for you and your business – that’s why each plan is unique as you are.  You need to understand the process and the pitfalls and if it can go wrong.
2. Ensure you have the new managers on board if owners are retiring.
3. Employee engagement is not a given! While the legal structuring can plan and guide the transition, investment in all employees about how this may affect them is essential.
4. Don’t rush the process as there will be a day job of running the business whilst the transition occurs too.