Published: 22nd Jul 2019

Co-operatives UK says the government should create a ‘clear national policy objective’ to support a voluntary expansion of employee and worker-owned businesses, including worker co-operatives and employee ownership trusts.   The organisation has launched a campaign called #1MillionOwners which calls on the government to allocate £2.17m over the next three years to support the growth of the sector which they believe could support one million workers by 2030. The funding would help five local enterprise partnerships (LEPs) pilot an intervention to address what evidence suggests are the biggest barriers to the more widespread adoption of employee and worker ownership: a lack of accurate information and helpful advice; and a lack of awareness, practical understanding and confidence in these models among entrepreneurs, business owners, workers and those who advise them. Ed Mayo, secretary general of Co-operatives UK said: ‘When it comes to reducing wealth inequality, driving employee engagement and tackling regional resilience, employee … (To read the full article, subscribe below)