Go EO

He couldn't help but keep a close eye on staff. Sticking his nose in where it wasn't wanted. Staff liked Connor, but found this frustrating. They struggled to find a nice way to ask him to back off.

Employee Ownership needs to involve giving staff control of the company. This can be hard for the founder, and the staff, to get used to! Connor had been their boss so long, behaving differently wasn't easy!

Selling to an Employee Ownership Trust doesn't have to be expensive. Our main package at £6,990+VAT includes all you need to go from private ownership to an EOT. It's more affordable than you think.

Good managers are proactive and responsive, anticipating and addressing challenges and opportunities in a timely manner.

Employee ownership helps reduce the income inequality gap. Whilst salaries likely will differ between senior and junior staff, everyone's entitled to a share of profits, not just those at the top.

Reason we hear to Go EO: REDUCED ROLE Still love working in the business...but want to step down as MD? You could try that whilst owning it, but the buck would still stop with you. With an EOT you hand over control as well as ownership. Let someone else have all the stress!

Accountants/IFAs make great Go EO partners! You understand: - your client's financial situation - their desires/motivations - the tax breaks available - the rules to get them We can invoice you directly at a discount & you charge as part of a wider package to your client.

Good leadership increases morale, and in turn productivity. It's vital to business success.

What's an employee-owned company's least favorite game? Hide and seek, cos they believe in greater transparency!

Jenny was excluded from receiving any of the proceeds as she'd already "sold" the business once (albeit for £nil). So Jenny was left with no business, no cash, not even a job. Full blog post below: goeo.uk/blog/how-not-t…

They got a £1m offer from a third party buyer, and pursued it through to sale. A life changing amount for each staff member. The buyer kept some staff on, but got rid of a few, including Jenny. They had their own leadership plans.

The tale of Generous Jenny. Jenny loved her staff, and wanted to share the business with them. She gave her shares for £nil to an EOT. She ended up far worse off financially than any other employee. No business, no job, and no money. What went wrong?

Want to sell to an EOT but retain a minority shareholding? We can cater to that! Our hybrid package includes the extra guidance and formalities you'll need: - understanding respective rights - shareholder agreement - different share classes Still under £10k, just £9,990+VAT!

Being a business owner can be lonely. Fix this by having lots of business owners in the business! Employee Ownership FTW!

Many people learn best by doing. Senior staff will never be great leaders if they're not given the chance. Whether employee owned or not, give workers opportunities to: - try new things, - inspire colleagues, - be involved in decisions.

Reason we hear to Go EO: OLD AGE None of us live forever. At some point you'll be too old to run the business. You need a succession plan. If you've got a reliable team, an EOT can be a great solution for all concerned. Enables you to step down gradually, timing to suit you.

Accountants: - do you have clients where an EOT may be suitable, - you're happy doing valuation/tax clearance, - just want someone to do the legals? We can fill gaps in your knowledge, plus provide an experienced M&A lawyer & SRA regulated firm for the compliance. Get in touch!

Being a business owner often means long hours and sacrificing your personal life. Having staff lightens the load a bit. They'll do tasks for you. Having employee owners lightens the load a lot. They'll take accountability from you.

Sharing in profits of the company can lead to increased financial security and stability for employees. Staff still have a steady salary, (hopefully) boosted by occasional profit share payments.