A PRINT and design business primarily based in Edinburgh has rewarded its workers with the keys to the company pursuing their challenging operate through the global pandemic.
Introduced from the dwelling space of couple Bob and Joelle Kirkpatrick in the center of the 2008 money crash Wee Blue Coo Ltd has set up by itself as a thriving business, dispatching countless numbers of products and solutions globally each and every week and selling its solutions on numerous on the net marketplaces.
Bob and Joelle were both made redundant from their employment in 2006 ahead of placing up their business enterprise, producing posters from community area photos to retail on eBay. Quick ahead 15 years, they now have a strong team of 30 customers of team – some of which have been utilized for extra than 10 yrs – and have an yearly earnings of additional than £2 million.
Acquiring formerly gifted a 10% shareholding to long expression worker Allan Grey for his tough get the job done and determination, the 3 shareholders agreed that the transfer to personnel ownership was in line with the company’s values by safeguarding the upcoming of the business for the profit of its staff.
The business owners started exploring the succession product in 2019 before enlisting the help of David Morrison of EQ Accountants. The owners started the system of transitioning to an Staff Ownership Believe in at the commence of 2021 with the go staying facilitated by pro Carole Leslie from Ownership Associates as very well as the groups at EQ Accountants and Anderson Strathearn.
Bob Kirkpatrick stated: “There are maybe extra very well-recognised methods to make an exit from a business, nonetheless, this was the only actual option to guarantee we safeguarded the futures of all those who have contributed to our company’s good results. The Personnel Possession Have faith in appears to be like a great and reasonable way to composition any business enterprise.”
Joelle Kirkpatrick included: “Being a men and women led enterprise has normally been the pretty essence of who we are, which is why getting an Worker-Owned company was the only solution that was critically regarded.
“Running our business this way has ensured we have a inspired and focused workforce who really feel valued. That has usually been extra important to us than the bottom line. Relaying this information to our group has, without the need of a question, been the emphasize of my profession so considerably.”
Bob and Joelle have always sought to acquire care of their workers with perks this sort of as flexible working and giving non-public healthcare to all staff members with extra than a person years’ services.
Obviously the pair felt this was the following phase for their business. The workforce ended up shocked and delighted at the news and are pretty excited at becoming specified the possibility to condition the long term of Wee Blue Coo Ltd.
Graeme Slater, Warehouse Manager, mentioned: “Now that we are an worker-owned organization it usually means that we all have a say in the way the business usually takes in the long term. This is a good opportunity to support us to increase as a business and gives us the opportunity to love a more secure and prosperous future.”
David Morrison, Husband or wife at EQ Accountants, explained, “Having encouraged Bob, Joelle and the group for numerous many years, it is good to see them safeguard the future of their small business by handing regulate to their committed workforce.
“This is excellent illustration of working with an EOT as a solution to succession, while making certain that staff members are rewarded for their tough operate. We look ahead to continuing to guidance Wee Blue Coo as they thrive as an personnel-owned business enterprise.”
The Employee Possession Belief was launched in the 2014 Finance Act to encourage small business homeowners to consider a sale to staff as a possible succession alternative.
Founder of Possession Associates, Carole Leslie, who has worked on the transitions of much more than 80 personal companies to the succession product, reported: “We are continuing to see improved desire from a range of unique organizations throughout contrasting sectors in building the move to worker ownership.
“It is inspiring to see two business owners thrive in their enterprise during the difficulties of redundancy and a global economic crash. It is testament to their tough perform that they have reached this momentous milestone.
“Bob and Joelle have normally appeared to put their personnel 1st, and this changeover is one more chapter for the pair and the small business. I would like to congratulate Wee Blue Coo Ltd, and wish them all the best in their long run endeavours.”
Ownership Associates operates completely within the personnel-owned sector, supporting organizations on their shift to worker possession and functioning with set up staff owned businesses enabling them to maximise the ownership benefit.
For a lot more info on Wee Blue Coo Ltd, remember to take a look at: https://weehappybox.com/
For far more data on Ownership Associates, you should take a look at: https://ownershipassociates.co.british isles/