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Employee Ownership Trust – wrong trousers / right trousers; tune in to find out more?

As a firm we are getting a lot more questions about Employee Ownership Trusts (EOTs) of late.

We are not alone, I am aware from other contacts that they are having conversations with their clients too. If you search for “Employee Ownership Trusts” in Google News you will see a stream of current headlines on businesses that are now owned by an EOT.

What has sparked this? It could be the general economic climate (perceived absence of trade buyers?); rumours of changes to the Capital Tax Gains legislation; the possibility of a ‘tax free’ sale (see for example my colleague’s blog) or an increasing number of entrepreneurs who are interested in leaving a legacy – but regardless of the reasons why, the concept continues to gain traction.

I thought it timely therefore to revisit the subject of one of the most enjoyable breakfast briefings I have hosted (see blog) as the topic for my first virtual ‘Conversation over Coffee’ event. I will be joined by 3 experts on EOTs, Christian Wilson from Stephens Scown, Chris Budd from The Eternal Business Consultancy and Martin Brown from PKF Francis Clark. They will share their knowledge and passion with you during a conversation between the three of them before we move to questions and networking.

If you would like to book to attend the event which will be held over Zoom between 8am and 9am on Tuesday 6 October please contact Georgia.manning@pkf-francisclark who will send you the link to join.

Some of the themes that will be covered include:

  • The business is sold to the employees, it is not given away
  • It is typically ‘self-funded’ by the company, so no need for external debt or a trade buyer
  • It helps owners create a legacy
  • It is not for every business, but should be considered alongside other forms of succession planning for people thinking of selling their business

I also anticipate some of the conversation to focus on values and the cultural aspects of and arising from the sale of a business to an EOT.

For some background reading on EOTs check out factsheet here and / or the Employee Ownership Association website.

I look forward to seeing some of you on 6 October (see above).  If you cannot make that event (or have some follow up questions after the event) please contact me, Martin Brown or your usual point of contact here at PKF Francis Clark.

FEATURING: Richard Wadman
Richard qualified as a Chartered Accountant with KPMG in 1993. Since 2006 he has worked in Corporate Finance, firstly with the predecessor firm in Truro… read more
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