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Law for Business

Knowhow - guidance - precedents

28 MAR 2013

Employee owned businesses boost from Nick Clegg

"Not just nicer but better" - these were some of the words used during Nick Clegg's lecture on employee owned businesses at The Law Society today.

This was attended by Kathleen O'Reilly, Jordans Head of Internal Legal Services and Chair of the Law Society Company Law Committee. Kathleen originally explored this topic following the unveiling of the Nuttall report on the subject at the summit last July. Following the lecture, she remains enthusiastic.

"This was really interesting - the plan is to increase the level of these types of business (think John Lewis) from 3% of GDP to 10% by 2020. They are seen as fairer and will put more in the pockets of ordinary people".

The Law Society Company Law Committee is currently assisting with the review of the legal templates. And with plans for capital gains tax relief to be introduced in 2014 for those selling a controlling interest to employees, observers would be well advised to keep an eye on the developments.


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