A Guide to Employee and Worker Ownership in South Yorkshire
The Ownership Hub is a programme that promotes the adoption of worker and employee ownership across South Yorkshire.
The collaborative partnership works with the combined local authorities in South Yorkshire and the South Yorkshire Growth Hub where businesses can get support to set up or convert their organisation to worker or employee ownership.
South Yorkshire’s Mayor, Oliver Coppard, has offered his support for the Ownership Hub, highlighting how alternative business models offer people a greater stake whilst positively contributing to his wider economic vision for more creation in the region.
My economic vision is for more wealth to be created here in South Yorkshire, and for more of it to stay here in South Yorkshire. Expanding worker and employee ownership will help us deliver both.
Oliver Coppard, South Yorkshires Mayor
South Yorkshire was the first region to partner and launch their Ownership Hub in the UK and it has recently been announced that the Greater London Authority has followed.
What is employee ownership?
What is a worker-cooperative?
How can the Ownership Hub help you?
What is Employee Ownership?
Employee Ownership is a business model where all employees have two things:
- a financial stake through direct or indirect shared ownership, and,
- a say in how the business is run.
Co-owned companies tend to be more successful and sustainable because staff in employee-owned businesses tend to be more entrepreneurial and committed to the company. Staff’s leadership skills and interest in the company’s ambitions increase meaning productivity and employee retention is high.
What is a Worker Cooperative?
Worker co-operatives are trading enterprises, owned, and run by the people who work in them. The workers have an equal say in what the business does and an equitable share in the wealth created.
Worker cooperatives are values-driven businesses that put worker and community benefit at the core of their purpose. Workers have a meaningful role in the business, as they contribute to and benefit from the success of a company they co-own.
Co-operative businesses give people a direct stake in our region’s business community, helping to shape our industrial future and create the type of stakeholder economy that promotes the sustainable and ethical businesses.
Oliver Coppard, South Yorkshires Mayor
How can the Ownership Hub help you?
South Yorkshire has experienced and knowledgeable advisers who can offer support on setting up new businesses, upskilling workers, and access to finance.
To speak to an advisor call South Yorkshire Business Support on 0330 00 00 39 or email the Ownership Hub on growthhub@southyorkshire-ca.gov.uk
Phone:
03330 00 00 39
Email:
growthhub@southyorkshire-ca.gov.uk
