From Insider today:
‘A Scottish firm which makes protective coatings used on cruise ships, oil tankers and lighthouses has become the latest to be employee owned. The 24 staff at Chemco International in Coatbridge now own it after founder Manny Khorasani decided to step back from the business. The change of ownership process was set rolling after Khorasani attended an employee ownership event run by Scottish Enterprise as he had started thinking about taking a back seat in the business.’
Also, from Insider, this June:
‘Scotland has been praised for leading the way in its approach and commitment to growing the popularity of employee ownership. The independent Ownership Effect Inquiry, led by the Employee Ownership Association, found a scheme driven by economic development agency Co-operative Development Scotland had helped deliver a “tenfold return on investment for every £1 devoted to on-the-ground support”. And it recommended that the UK Government echo the scheme’s success.’
And, in January 2018, we read:
It’s estimated that there are around 300 employee-owned businesses in the UK and that almost one-third are in Scotland. Insider offers two reasons for Scotland having more of them:
- The Nuttall Review identified two key obstacles to the wider adoption of employee ownership: lack of awareness and lack of practical support.
- Co-operative Development Scotland has undertaken some sterling work with advisers, evidenced by the amount of interest shown at its January 2018 seminar. The expert help provided by Co-operative Development Scotland goes a long way to support businesses, and importantly the employees, through the process.
I don’t doubt that this is part of a wider story. It seems to me to be too much of a coincidence that Scotland also has more living wage employers and a more caring approach to the disabled and to refugees. Further, the Scottish Government’s several anti-austerity and pro-human-rights policies suggest that these values are stronger at government-level in Scotland too.
Finally, to corroborate the headline: