30th September we are thrilled to be hosting the 4 th Co-operative Development Scotland (CDS) Successful Succession event. The event is aimed towards business owners and advisors who are considering the move to Employee Ownership as a succession option just like we had almost 2 years ago now! If you would like to come along, please get in touch to register.
We will kick off at 10am with a brief welcome, followed by a tour of our facility and then various talks. Richard Tough, former owner, will begin by discussing the company’s history and the reasons for choosing the employee ownership model. The transaction will be discussed by our Chairman, Nick Kuenssberg. Lastly, our Elected Employee Director, John Palmer will give the employee perspective on the transition. The audience will then be given the opportunity to put questions to our panel comprising of the speakers and representatives from the workforce.
As it’s our 150
th birthday, there will be a special Scottish themed lunch complete with birthday cake along with our Big Macmillan Coffee Morning. At this point employees will join in and talk to the guests. It is expected that the event will close around 1pm.
In preparation for the event, CDS have kindly presented us with their thoughts on Employee Ownership and it is well worth a read!
“Research demonstrates that employee owned companies tend to be more productive and profitable than similar companies with more conventional ownership structures, and have happier employees and customers. From an economic development perspective, businesses owned by their employees are more likely to remain in their local area, providing jobs and opportunities for local people who will spend their cash in their communities.
This is a particularly sensitive time for Scotland’s economy as we are very much a nation of SME’s and family businesses. The recession put the brakes on business sales and as the economy improves, more business owners are looking to sell. The worry is that if these businesses sell to a company based abroad, then Scotland loses not only the company but all of the jobs and future opportunities.
Co-operative Development Scotland (CDS) is the arm of Scottish Enterprise tasked with promoting employee ownership as a business model. This year, CDS is running a campaign called
Successful Succession which targets these business owners and seeks to show them that there is an alternative to a trade sale; sell to the employees. We are absolutely delighted that Scott & Fyfe is participating in this campaign.
Employee ownership has helped Scott & Fyfe transfer from a family business providing an exit route for the former owners. The event gives Scott & Fyfe the opportunity to showcase how the move helped stabilize the company’s activities and ensure the business remained rooted in Tayport. It hasn’t always been a smooth ride for Scott & Fyfe but the future is now looking brighter.”
If you would like any more information about the event then please
get in touch with us! For more on employee ownership in general have a look at the CDS website: www.cdscotland.co.uk