A blueprint for supporting more British businesses to become employee-owned has been announced by the BIS. Responding to recommendations made by Graeme Nuttall in his independent review of the sector, the Government has approved plans for a range of activities that will help to grow the number of businesses that become or convert to the employee ownership model. The plans include an ‘off the shelf’ model for setting up an employee owned business, work to examine the guidance on tax issues relating to employee ownership, a guide for staff and employers to request and agree an employee ownership takeover, and consulting with the John Lewis Partnership to examine the barriers to funding for private sector employee owned companies.
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