AN On line retailer of men’s grooming merchandise has joined the rising variety of staff-owned firms in Scotland.
The Executive Shaving Business, dependent in Glasgow, say they will “embrace” staff ownership, with all staff members getting a stake in the business.
New census knowledge introduced just a couple of weeks back identified that there ended up around 195 worker-owned enterprise in Scotland at the finish of the 2021/22 finacial calendar year.
These figures have prompted other folks to join the ranks, such as the sellers of moist shaving and grooming products and solutions for males in Glasgow.
The whole quantity of worker-owned business enterprise now stands at above 200.
Scottish Enterprise have been a key driver guiding the motion, as they seek out to assistance business expansion via collaborative strategies.
They commissioned the census with regards to personnel-owned company in Scotland by means of Co-operative Enhancement Scotland (CDS).
Brian Mulreany, Director of The Executive Shaving Company, reported: “My fellow director Shona and I were retiring and preferred to be certain that the company not only remained in Scotland, but also that the employment of our loyal workforce were being safeguarded.
“We heard about personnel possession from a business get in touch with and it appeared like a fantastic in shape for our business culture, as perfectly as anchoring the organization in its home town of Glasgow.
“CDS ended up a wonderful assist all through the entire method – from assessing the feasibility of an personnel buyout to the real transition.
“Our personnel were promptly on board and are genuinely happy to now be aspect of a 100% personnel-owned business. I’m confident their new stake in the business enterprise will inspire loads of foreseeable future innovation and assure the company carries on to improve and prosper.”
Advocates of the design states that it offers employees a meaningful stake in their organisation and a genuine voice in how it is run.
Meanwhile, sceptics believe that that the money risk involved if the model goes erroneous is much too massive.
Clare Alexander, Head of CDS, added: “More and far more Scottish enterprises are transitioning to employee possession and we’re very pleased to guidance them on that journey.
“We realize the relevance of inclusive enterprise types like EOBs and Co-ops in conditions of producing a wellbeing financial system where by reasonable do the job, a values-driven tactic and potent local community links are each bit as vital as revenue.
“As we carry on to perform to the Scottish Governing administration target of having 500 EOBs in Scotland by 2030, it is fantastic to see providers these types of as The Government Shaving Organization making the shift to staff possession – a enterprise model that not only results in far better spots to function, but punches very well higher than its weight in phrases of resilience, profitability, productiveness and employees engagement.”
The range of employee-owned business enterprise in Scotland has risen by 13% since June 2020.