Celebrating the first National Employee Ownership Day

UK-based employee-owned companies have a turnover in excess of £30 billion and employ over 130,000 people.

That's why Co-operative Development Scotland (CDS), a partnership venture between Scottish Enterprise and Highlands and Islands Enteprise, is celebrating the first-ever National Employee Ownership Day (July 4) with a series of events across Scotland exploring the productivity, profitability, and motivation employee ownership brings to Scottish business.

Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney has praised the employee ownership model, saying: "Evidence tells us the employee ownership model often create a more sustainable business in difficult times; creates jobs faster and boosts productivity and performance.

"Employee Ownership Day is important because we know employee ownership can stimulate entrepreneurial culture, innovation and growth."

Today's events, which bring together some of the Scottish companies that have adopted the model, are expected to highlight its value - for example, employee-owned paper and board manufacturer Tullis Russell has a turnover in excess of £100m.

Sarah Deas, chief executive of Co-operative Development Scotland (CDS), said: "We believe the model helps sustain businesses in their communities, engage employees and deliver productivity, innovation and growth. It also helps keep Scottish companies in Scotland.

"Today is about broadcasting the success of companies that have adopted this innovative business model and its growing contribution to the Scottish economy. We are delighted to have Mr Swinney's long-standing support."

See more here.