2024 was an unparalleled bumper year for employee ownership, with record levels of growth and resilience across the wider co-operative and mutual economy.
The newly published
Co-operative and Mutual Economy Report 2025
from Co-operatives UK reveals that
more than 10,000 co-operatives and mutuals now generate a record combined income of £179.2 billion, serve 65.7 million memberships, and employ over 1.5 million people.
This represents a 5.5% increase in income year-on-year and a 6.5% boost in total business numbers.
The eoa's Employee Owned Business Register (May 2025 edition)
reinforces this story of momentum, showing that employee ownership continues to grow at pace, with more businesses than ever choosing EO as a succession and growth strategy.
Government Backing to Double the Sector
The eoa, alongside Co-operatives UK and other trade associations, is working closely with the government on its commitment to double the size of the co-operative and mutual sector by 2030.
Earlier this year at a
reception in Downing Street,
ministers reaffirmed this ambition - recognising the contribution of EO to the UK economy - and have since established a council to guide growth plan to deliver on that ambition.
Resilient, Inclusive and Growing
The
Co-operatives UK report
highlights why this growth matters:
- Co-operatives and mutuals serve 65.7 million memberships - almost matching the UK population.
- Co-operatives and Mutuals provide fairer workplaces: they are four times as likely to be Living Wage Employers. The gender pay gap is also narrower - 7.5% compared to 12% across the wider economy.
- Employee ownership trusts EOTs have increased by 30% in one year, showing the importance of having government policy that supports growth.
You can read the full Co-operative and Mutual Economy Report 2025 here.
Employee ownership plays a key role in this success. Our Employee Owned Business Register
shows that the number of EO businesses is increasing, while support research shows how these businesses are demonstrating resilience in challenging economic conditions and delivering long-term benefits for employees, customers, and communities.
By giving employees a meaningful stake and voice, EO businesses report stronger engagement, improved productivity, and sustainable growth.
The model provides a proven route for founders seeking a succession plan that protects jobs, skills, and business legacy.
"It’s great to see this bumper year of growth across the Mutuals and Cooperatives sector, with collaboration to progress growth plans with government that support the ambition to double of the Cooperatives and Mutuals sector by 2030," said James de le Vingne, Chief Executive of the eoa.
"However, to simply sustain the current pace, we need to develop access to finance, awareness, and business support for democratic models, to support them to play a bigger role in local growth plans to drive more resilient, sustainable businesses that innovate and invest in our regional economies for the long term."
Rose Marley, CEO of Co-operatives UK, said: “These figures demonstrate the growing strength of the mutual movement within the economy. Co-operative businesses make an outsized economic contribution, are more resilient and better represent society in the boardroom and within executive teams.
“As part of Labour’s election manifesto, the government set out its ambition to double the size of the sector. We are moving in the right direction, but at the current pace, it will take far too long. With the right policies, co-operatives can achieve that growth more quickly, bringing inclusive growth, resilience, and wellbeing to more people and communities across the UK."
Looking Ahead
As the co-operative and mutual economy continues to expand, employee ownership is at the heart of this movement.
With government backing, strong partnerships, and a continued increase in transitions and quality of transitions, the eoa will continue to work with its members and partners to ensure EO remains a cornerstone of a fairer, more inclusive UK economy.
If you're considering employee ownership or looking to develop your EO knowledge and connections, just get in touch.