How to achieve employee ownership for your business

There are several organisations that provide help and support for employee ownership:

• Employee Ownership Ireland supports businesses in Northern Ireland and the Republic of Ireland in their journey to employee ownership.
• Employer Ownership Association (EOA), the association of employee-owned and trust-owned businesses, offers information and advice.
• Co-operative and Community Finance offers loans for employee-owned businesses.
• Co-operatives UK can put you in touch with member development bodies offering hands-on advice and support.

Seek professional advice

In addition, both the business owner and employees will need professional advisers such as solicitors and accountants to help negotiate the buyout. If an employee trust is being set up, the trustees also need advice. If you can, it makes sense to get advice from specialists with prior experience of the employee ownership process.

See choose an accountant for your business and choose a solicitor for your business.

Owner, employees and trustees all need independent advice as their interests are not necessarily the same.