Clearleft has put the cats in charge of the cream – and it's working! Founder Andy Budd explains how an 'employee ownership trust' works.
Andy Budd is selling Clearleft after 15 years.
Not to an international consultancy – but to its employees.
"Clearleft will be run for—and on behalf of—all our team, now and in the future" says Andy.
"So rather than working for a company where the benefits go to a handful of individuals, they will be shared evenly amongst the team."
More agencies are doing this. Recently Quietroom and Torchbox pulled off "EOTs" – selling to employee ownership trusts.
Andy has agreed to tell us about this major change.
* What are the advantages to the owners?
* How does it work money-wise?
* How do you communicate this to the team?
* What changes culturally when your staff are in control
We're also joined by Ewan Hall from Baxendale Employee Ownership, which helps companies navigate successful employee ownership transitions.
If you're looking at exit options and you think an EOT could be something to explore, this will make sure you're fully in the picture.