Local MSP Maree Todd, SNP is encouraging the employee-owned model of business for the Highlands and Islands. Her comments were made during a debate in the Scottish Parliament:“Importance of Employee Ownership to the Scottish Economy”
Maree Todd said:
“There is a clear case for businesses, particularly in the Highlands and Islands, to consider the employee-ownership model. It’s good for business, with the potential to boost profits and productivity and it’s really good for the economy – it keeps jobs and money in the local economy, which is something we really need to do in communities across the Highlands and Islands.”
The debate on employee ownership highlighted the growing number of employee-owned businesses in Scotland – there were 73 employee-owned companies in Scotland in 2015 but there are now 86 – and it also highlighted the strong economic case for promoting the model, showing that moving to the employee-owned model has the potential to increase business profits and worker productivity and showing that it can ensure businesses remain rooted in a local area.
Citing as examples of successful employee-owned businesses Aquascot and Highland Home Carers Maree Todd praised the two Highland-based companies and urged other companies in rural areas to consider the model.
Aquascot is a Highland-based, sustainable seafood business which employs around 180 people and has an annual turnover of around £45m, making it the largest employee-owned business in Scotland by turnover.
Highland Home Carers is the largest provider of care at home in the Highland area with more than 500 members of staff and is employee-owned.
Maree Todd said:
“We are already home to the largest employee-owned businesses by turnover and by number of employees. Aquascot and Highland Home Carers have shown that the business model can be very successful particularly in our rural economy.”
“I hope that their example will encourage other businesses in the Highlands and Islands to consider the model and that we will see more businesses adopting it in the near future, boosting our local economy and securing the future of many more businesses in the Highlands and Islands.”