{"id":944,"date":"2012-11-28T14:46:28","date_gmt":"2012-11-28T14:46:28","guid":{"rendered":"http:\/\/blogs.scotland.gov.uk\/scotlands-economy\/?p=944"},"modified":"2018-04-04T11:43:52","modified_gmt":"2018-04-04T10:43:52","slug":"stimulating-entrepreneurial-culture-and-innovation","status":"publish","type":"post","link":"https:\/\/blogs.gov.scot\/scotlands-economy\/2012\/11\/28\/stimulating-entrepreneurial-culture-and-innovation\/","title":{"rendered":"Stimulating entrepreneurial culture and innovation"},"content":{"rendered":"

\"Print\"<\/a>Earlier this week I wrote about how Scotland\u2019s entrepreneurial spirit contributes to economic growth. This evening I will meet with meeting Co-operative Development Scotland and learning more about how employee ownership can stimulate entrepreneurial culture, innovation and growth.<\/p>\n

An employee owned company is one in which the employees hold the majority of shares either directly or in trust. This gives employees a real stake in where they work and a genuine say in how their business is run. Evidence tells us that this often gives a more sustainable business in difficult times and one that creates jobs faster in better times.<\/p>\n

It is also becoming clear that a performance benefit can be gained through employee ownership \u2013 with productivity boosted by four-five per cent, a disproportionate prominence in the Sunday Times<\/em> \u2018Best Companies to Work For\u2019 and over the last 20 years the Employee Ownership Index has outperformed the FTSE All-Share by an average of 10 per cent each year.<\/p>\n

In Scotland there are around 35 employee-owned businesses, with many more being supported by Co-operative Development Scotland to make the transition. Co-operative Development Scotland has recruited 10 Employee Ownership Ambassadors\u2019 to help promote employee ownership in Scotland, raise awareness of the model, facilitate introductions and mentor companies. I look forward to meeting them and to hearing the stories of how this model has benefited the ambassadors\u2019 companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

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