There are several organisations that provide help and support for employee buyouts:
- 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 employee buyouts.
Owner, employees and trustees all need independent advice as their interests are not necessarily the same.