Inquiry into performance of employee-owned businesses launches call for evidence

A new inquiry looking at the performance of employee-owned businesses following a sustained period of growth in their number over the past five years has launched a call for evidence.

At a time when there is a significant focus on UK productivity, corporate behaviour and Brexit, the Ownership Effect aims to identify opportunities to grow the effect of employee ownership as an economic and social enabler.

The inquiry requires firsthand written evidence from as many employee owned businesses as possible, along with that of the professional adviser marketplace.

The call for written evidence is now open and closes on July 21.

Lorna Jack, chief executive of the Law Society of Scotland (pictured) is chairing the Scottish panel.

She said: “These types of organisation have proven to be highly successful in recent years, and have been particularly resilient following the economic downturn.

“It is important that we in the wider business community, can understand and learn from their successes as well as explore any specific challenges employee-owned businesses face and how they might be dealt with.

“For any business, getting the right advice is essential. The inquiry findings and recommendations will help ensure that professional advisers, including our solicitor members, can better understand the particular needs of these organisations and offer the advice and support that will help employee-owned businesses thrive in the long term.”