Hedges Law are proud to have joined the growing amount of businesses who are recognising the enonormous benefits of Employee Ownership. As The Times acknowledges, Employee Ownership Trusts stood at 470 in June last year, but this June that number had risen to 730. It is clear that EOT’s still represent a miniscule proportion of business structures, but the structure is increasingly being recognised for promoting inclusion, teamwork, productivity and employee engagement.
We distinguish ourselves from other law firms by our focus on the importance of our ethos, putting people first and clients reap the benefit of happy, motivated staff.
I am delighted to have been appointed a Trustee to the EOT, to give our staff a voice, and to allow the business to begin implementing ideas as to how the business can strengthen, improve and be an even better place to work.
Weve reached a sweet spot in the growth of the sector, Deb Oxley, chief executive of the Employee Ownership Association, said. 'You never want to say youve had a good pandemic, but it is having a major impact on employee ownership. Business owners think about mortality, realise they have no succession plan and think, What would happen if I wasnt around?
This, combined with anxiety that the government was set to increase capital gains tax due when entrepreneurs sell their businesses, helped the employee-owned sector to grow by 30 per cent in 2020, while the first three months of 2021 represented a record quarter for transitions to employee ownership trusts, at 72. As of June, there were 730 such trusts, typically used by traditional entrepreneurial and family-owned businesses to transfer ownership, up from 470 in June last year.'