A new partnership that includes national law firm TLT and ethical bank Triodos’s UK business – both based Bristol – is seeking to support growth of employee ownership.
Backed by the Employee Ownership Association, the partnership will share its members’ collective insight and expertise on the benefits of staff owning a business. 
Employee ownership has doubled in the past five years, with firms such as Bristol-based Aardman Animations, pictured, hi-fi retailer Richer Sounds and Riverford Organic Farmers among the recent wave of high-profile conversions.
It is now increasingly being viewed as a better alternative to a conventional trade sale when owners want to exit their business.
With the potential for this growth to continue, TLT and Triodos Bank UK – along with Dorset-based new economy group Stir to Action and J Gadd Associates, a Reading-based employee ownership consultancy – have formed the new partnership to support business owners who are interested in sharing ownership and success with their employees.
They will now stage events to share their collective insight and expertise.
But despite the growth in employee ownership, which has been driven by a resurgence in values-led entrepreneurs – predominately in family businesses and small firms – the partnership has identified the need to offer more support to those in the early stages of business succession planning.
As part of this approach, it is launching the UK’s first employee ownership accelerator – a pilot learning programme to support both business owners who are actively considering employee ownership and also those leading values-driven organisations who may be considering their future legacy.
The accelerator will take place at Stir to Action’s New Economy Centre between September 17-19 will support a cohort of business owners to explore employee ownership models and look at how to determine what will work for them, and also consider the legal, financial and tax implications.
Triodos Bank UK head of relationship management Simon Crichton said: “As a bank focused on supporting sustainable business models, we see employee ownership as a tool to empower those within a company and to support their wellbeing.
“In addition, because employee-owned organisations are inherently transparent, they have a strong commitment to positive impact and an active involvement in the communities in which they operate. It is great to be involved in this new partnership.”
TLT partner Ben Watson, pictured, who leads its work on employee ownership, added: “We are delighted to be involved in this partnership. Over the last decade, we’ve worked with many employee-owned businesses, either in planning their transition or in helping them to make the most of the employee owned model.
“We strongly believe in employee ownership as an alternative business model and are excited to be able to support this new initiative. We hope it will further increase awareness within the UK business community.”
Other Bristol-based firms to adopt employee ownership include digital agency Torchbox, which works with some of the world’s biggest organisations including Google and NASA, financial planning specialist Paradigm Norton and Sawday’s, the specialist holiday accommodation firm.
