Number of Employee-Owned Businesses in Wales Nears 100
The Welsh Government's Business Wales and Social Business Wales service offers specialist advice to support employee buy outs, with fully funded and bespoke help available to help business owners decide if employee ownership and share schemes are the right solution for their business.
The number of employee-owned businesses in Wales now stands at 95, exceeding the Programme for Government commitment to double the number in Wales and reach 74 by 2026.
Research shows that employee-owned businesses perform particularly strongly, with employees demonstrating greater engagement and commitment.
The commercial benefits are also becoming increasingly popular with entrepreneurs creating new businesses to help attract and reward talented employees and drive business growth.
One company to receive support is Cambrian Training Group, a leading provider of apprenticeship and vocational training across Wales.
The Welshpool company, which marked 30 years of business by becoming employee owned earlier this year, was established in 1995 as a subsidiary of Mid Wales Tourism to deliver vocational and hospitality skills as part of the development of the region's tourism sector.
It now employs 65 staff and has expanded its work-based learning, skills and apprenticeship programmes into a range of other sectors, including manufacturing, retail, and financial services.
Arwyn Watkins OBE, of Cambrian Training Group, said:
'Securing Employee Ownership Trust (EOT) status is a significant step in our journey. Our employees are at the heart of everything we do, and this move ensures that they have a direct stake in our continued success.
'The decision to move towards an EOT rather than opting for a trade sale was motivated by the desire to sustain the company's culture, values, and commitment to quality over the long term.'
The Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:
'By improving employee well-being and job satisfaction, the employee-ownership model plays a key part in strengthening the foundations on which every successful business is built.
'It's proven benefits include giving employees more control over their own destiny, and providing business owners with the peace of mind that that the future of their business is in safe hands, and that the future of their highly valued employees has been safeguarded in the community the business was fostered in.
'I urge more businesses to explore the benefits on offer via Business Wales and Social Business Wales, to ensure Wales-based companies remain in Welsh hands.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
2 hours ago
- The Guardian
Sales of UK country houses rise as buyers tempted out by lower prices
Sales of expensive UK country houses rose in June, signalling a possible recovery in demand as buyers are tempted out by lower prices after an extended slump. The estate agency Knight Frank said the number of exchanges of contract for sales of country houses – defined as a rural home worth more than £750,000 – was up 7% in June compared with last year as the number of properties for sale rose while prices fell. Second-home owners are driving the increase in properties coming to market, the agency said, after recent council tax changes designed to level the playing field for local people living in popular holiday spots. Councils in Wales have the power to quadruple taxes on second homes, while English councils can double taxes. The number of country houses coming on to the market was 9% higher in the second quarter of the year compared with last year. 'Prices are correcting and as a result activity is noticeably picking up,' said James Cleland, the head of the country business at Knight Frank. 'June was busy, and a number of deals were agreed in all price brackets, which means the next few months look even better for exchanges. It's all about pricing. If you get it right, buyers pounce but if you get it wrong, not a lot happens.' Covid lockdowns prompted a wave of people to decide to move away from cities in favour of countryside homes five years ago – a trend that resulted in a 'race for space' across the housing market. Demand, however, subsequently cooled. Average country house prices fell 3.5% in the three months to June, according to the estate agent's price index. That was faster than the 1.6% decline in the year to March. Other factors in the glut of rural homes coming to market were a stock overhang caused by March's stamp duty cliff edge, and buyers reactivating plans put on hold last year as a result of the political upheaval. Knight Frank said there were only 5.9 potential buyers for every new instruction to sell a country house, compared with nearly 19 at the peak of the pandemic exodus from cities. The last time buyers were in such a strong negotiating position was in the second quarter of 2018, during the turmoil over the UK's Brexit deal with the EU under Theresa May's Conservative government, it added. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Knight Frank judged that it was the 'most favourable market for buyers in the country for seven years'.
The Independent
2 hours ago
- The Independent
Government needs to overhaul ‘unfair' business rates, says Greene King boss
The boss of pub giant Greene King has said the Government needs to overhaul business rates for the sector amid rising closures across the UK. Nick Mackenzie, boss of the 1,500-strong pub firm, said reduced property tax payments were needed to drive investment and new jobs after swallowing recent cost hikes. It comes days after figures from the British Beer and Pub Association (BBPA) pointed towards a surge in pub closures due to heightened financial pressures. The body estimated that 378 pubs will close this year across England, Wales and Scotland after increased stress on the industry so far this year. It said this would amount to more than 5,600 direct job losses. Industry bosses have said easing business rates could help support some pub businesses currently at threat of future closure. Mr Mackenzie said the current system of business rates is 'unfair' on the sector, focusing on revenues rather than profitability, which has heavily diminished across pubs in recent years amid sharp increases in operating costs. 'Pubs are going to be around for the long term, but we need to address the unfairness in the system to allow them to flourish,' he said. 'It isn't fair that the sector has 0.4% of the rateable property but pay 2.1% of the bills. 'The sector is a massive employer and incredibly important for local communities, so we just feel it is important to underline how beneficial it is to tax pubs fairly.' Greene King is among pub firms to have said recent cost increases, such as the rise in National Insurance contributions and the higher national minimum wage, have caused them to pull back on some investment plans. Mr Mackenzie said Greene King would secure £13.7 million in annual savings to be invested in its pubs with reforms to business rates. The firm is asking Chancellor Rachel Reeves to introduce a specific, lower business rates multiplier for all pubs at the Autumn Budget, giving them a 20p discount on their current rate. It is also asking the Government to change how the Valuation Office Agency calculates the rateable value of a pub at the 2026 revaluation. The Labour Government has previously said it plans to reform business rates to 'create a fairer system'. It came as the company released its Growth on Tap report on reforming tax policy in the sector, which highlighted that its pubs are facing significant business rate increases due to a recent reduction in discounts for the sector. 'The Government has made growth its number one priority, and the Chancellor now has the opportunity to make changes that will immediately unlock millions of pounds to do just this,' Mr Mackenzie said. 'We will be able to go even further and faster with our investments – creating new jobs, refurbishing pubs and breathing life back into communities up and down the country.'
Wales Online
3 hours ago
- Wales Online
The two North Wales coastal sites in demand with house hunters from Manchester and Cheshire
Two prime coastal spots in North Wales are drawing in property seekers from across the border, according to an estate agency in Cheshire's 'Golden Triangle". The region's breathtaking coastline beaches are luring wealthy individuals across the border for either a permanent residence or a holiday retreat. Gascoigne Halman, an estate agency based in Alderley Edge, has noted sustained interest from buyers in Greater Manchester and Cheshire, all enticed by the tranquil coastal lifestyle promised. Known for its affluence and expensive homes, the village of Alderley Edge attracts wealthy residents including Premier League footballers, actors and businesspeople. Both families and professionals are gravitating towards northwest Wales, drawn by the area's "scenic splendour, quaint villages, cultural richness and accessible transport links", reports the Manchester Evening News. Specifically, Anglesey is attracting a lot of interest, said Richard Leece, manager at Gascoigne Halman's Alderley Edge branch. So to is an old favourite, the village of Abersoch on the Llŷn Peninsula, Gwynedd. "Anglesey and Abersoch are not only beautiful, they're aspirational in their own right," said Mr Leece. "There's a long history of Cheshire residents buying in both areas, drawn to the understated luxury, sweeping views and outdoor lifestyle. Sign up now for the latest news on the North Wales Live Whatsapp community "Whether it's paddle boarding before breakfast or watching the sunset with a glass of wine, these aren't just holiday homes, they're sanctuaries that restore balance in busy lives.' (Image: Getty Images) More recently, places like Abersoch have also become known for the number of Ar Werth (For Sale) signs on roadsides. According to Rightmove, the number of homes for sale in Gwynedd in June 2025 was 146% higher than in June 2021. Owners of second homes and holiday cottages have complained of the need to slash prices to attract buyers. Despite signs of a recent bounce, the county's housing market has been falling in the wake of measures designed to constrain holiday homes. Some residential owners have also lamented the impact on their own properties. Abersoch and its fleet of jet skis has the highest estimated number of chargeable second homes in Wales, according to Welsh Government figures. Being around two hours and 20 minutes from Greater Manchester, and roughly two hours from Cheshire, a community has built up that attracts the like-minded, making it synonymous in Wales with the tensions that exist in the country's housing market. This cosmopolitan former fishing village revolves around a natural harbour, where rows of boats bob in the marina, reflecting the integral role sailing plays in Abersoch life. Another focus point is it sandy beach and row of price-spiralling beach huts. As well as being a hotspot for water sports enthusiasts, Abersoch also boasts an array of boutique shops, top-notch eateries and a warm, welcoming atmosphere. According to Rightmove, the average house price in Abersoch over the past year was £585,000. Detached properties made up the majority of sales last year, fetching an average price of £803,750. Terraced houses sold for an average of £311,667, while semi-detached properties commanded £732,500. (Image: Gascoigne Halman) Meanwhile, Anglesey is renowned for its picturesque 125-mile long coastline and historic landmarks, including the 13th-century gem that is Beaumaris Castle. The island was recently crowned the UK's best British island by The Telegraph. It can be reached in around an hour and 50 minutes from Greater Manchester, and an hour and a half from Cheshire. According to agents, the area offers a much slower pace of life and has been previously recognised as one of the "happiest places to live in the UK". Rightmove figures show that houses in Anglesey sold for an average price of £257,742 over the last year. Most were detached properties, fetching an average price of £344,635. Terraced houses sold for an average of £164,634, whilst semi-detached properties sold for around £215,545. (Image: Gascoigne Halman) What you can buy in Abersoch and Anglesey Gascoigne Halman is currently marketing two developments in these areas. The company said it's had lots of enquiries from a mixed demographic. Situated on the former site of the Bull Bay Hotel, the new development of Tai Porth Llechog on Anglesey's northern coastline is made up of three detached homes, a dormer bungalow and nine luxury apartments priced from £275,000. It offers a wide range of "high-spec" accommodation designed to make the most of the area's panoramic views. The detached homes feature an "upside-down'" design with living spaces on the first floor to make the most of the sweeping sea views, as well as boasting large balconies, open-plan layouts and floor-to-ceiling windows. The development's elevated position ensures uninterrupted sea views and the surrounding Area of Outstanding Natural Beauty (AONB) adds to its appeal, says the agency. Much to the frustration of local people, all properties at Tai Porth Llechog must be sold as secondary residences or holiday homes. When approving the development, Anglesey Council said its hands were tied by historic planning rules. (Image: Gascoigne Halman) Meanwhile, Waters Reach in Abersoch is the epitome of a dream coastal home, said Gascoigne Halman. This five-bedroom detached house occupies a prime half-acre plot, boasting 180-degree views over the Cambrian Mountains, St Tudwal's Islands and Warren Beach. The property offers just under 3,000 sq ft of living space, comprising four generously-sized ground-floor bedrooms, three with sea views, two modern bathrooms and a vast open-plan living area. Upstairs, a delightful bedroom and sitting area with picture windows provide a private retreat with "unparalleled" views of the coastline. The property is ideally located a stone's throw from the beach, with Abersoch Inner Harbour beach merely a two-minute walk away. The village itself is accessible on foot at low tide. This home is currently listed for £3 million. Sign up for the North Wales Live newsletter sent twice daily to your inbox Find properties for sale or let near you
