Yesterday afternoon’s (22 June) first quarterly Business Adviser Briefing, hosted by NEP and the Northamptonshire Growth Hub at Moulton College Management Centre, saw Daventry-based business, Axillium, announce their transition to employee ownership status.
The announcement came as the event explored opportunities for employee ownership for Northamptonshire businesses with headline speakers from John Lewis and Northamptonshire based Cambridge Weight Plan advocating the productivity, profitability and people benefits that employee ownership brings to business, now delivering 4% of UK GDP annually.
According to Axillium, the prospect of employee ownership reinforces their innovative, supportive, highly motivated and fun environment and culture – a critical enabler for the company’s business growth plan.
Will Searle, Founder and Managing Director, Axillium Consulting Limited, said: “As an engineer my passion is to understand how to bring people and technology together and to plan for success. Through Axillium employee ownership, I am now able to share this passion with a hugely talented group of people who make the business what it is – a high impact, highly successful team.”
Facts about employee ownership*
• Provides opportunities for succession planning – developing internal people with the potential to fill key leadership positions in the company
• Becoming increasingly popular with start-ups
• Operating profits of the UK’s top 50 employee-owned businesses increased 25.5 per cent (2014)*
• The sales revenue of the UK’s top 50 employee-owned companies increased by 4.6 per cent
• Employee numbers increased by 3.3 per cent year-on-year (2014)*
• The employee owned sector contributes £30bn GDP to the UK economy annually. The number of employee-owned businesses is growing at an annual rate of just under
10 per cent (2012)*
• Employee owned businesses grew sales by 11% in the recession compared to non-employee owned businesses which only grew by 0.6 per cent (2014)*
*Published by the Employee Ownership Association
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