Melbourne, Australia – November 18, 2024 – Employee Ownership Australia (EOA), together with the leading UK-based employee ownership expert Graeme Nuttall OBE and author of the renowned Nuttall Report on Employee Ownership, continues to champion the cause of employee ownership trusts (EOTs). Despite significant advocacy and the growing adoption of EOTs across many common law jurisdictions, Australia has yet to fully embrace this transformative model.
EOA has been at the forefront of promoting employee ownership since 2020, supporting numerous events and initiatives aimed at increasing awareness and adoption of EOTs. The Nuttall Report, a pivotal document authored by Graeme Nuttall OBE, has been instrumental in highlighting the benefits of employee ownership and the critical role of EOTs in fostering inclusive and sustainable business practices.
Global Employee Ownership Expert Graeme Nuttall on Speaking Tour in Australia
Leading UK-based employee ownership expert Graeme Nuttall OBE is visiting Australia during November – December 2024 to speak to Australian companies, business experts, and policy-makers about how to develop employee ownership in Australia. Graeme was instrumental in designing and introducing the EOT in the UK in 2014, and his model has seen astonishing success.
A large number of Australian company owners would like to develop a succession plan that protects their company and their employees into the future – employee ownership does just that.
Employee ownership has been widely found in academic research around the world to encourage high levels of productivity, business stability, and employee well-being and wealth creation.
The purpose of an EOT is to provide long-term employee ownership of a trading company (or group). An EOT holds a company’s equity (usually all or at least a majority) on behalf of all that company’s employees, providing them with good work, a share in the financial success of their company, and a voice in its affairs. The EOT’s trustee safeguards this employee ownership for all present and future employees.
In the UK, nearly 2000 EOTs (with tens of thousands of employee-owners) have been established since the EOT was introduced ten years ago. The EOT is also being utilized in the US, and the Canadian Federal Government has recently introduced tax and regulatory support for EOTs. Various European countries, such as Denmark and Slovenia, are also introducing legislation to support equivalent models.
You can see the full ‘press release’ on the ‘Nuttall Tour’ – including key dates and events – here.
