InformationEmployee Ownership
Employee Ownership Transition Fund (EOTF)
Eligible businesses can apply for a small grant to help cover part of the legal, administrative or training costs of transferring ownership to an Employee Ownership Trust.
The grant amounts are as follows:
- £1,000 for businesses with 5-49 employees
- £2,500 for businesses with 50+ employees
Funding will be distributed on a first-come-first-serve basis, awarded in arrears, and must be reserved via an Expression of Interest before starting the transition.
The Policy & Guidance document outlines the full eligibility criteria and process for applying.
To request an Expression of Interest (EoI) form, applicants must contact the Council’s Economic Development team at business@eastdevon.gov.uk
Why employee ownership?
Employee-owned businesses typically see an 8 to 12 per cent boost in productivity, annual wages around £2,900 higher on average, and an 83 per cent increase in staff motivation.
Selling to an employee ownership trust also brings tax benefits, with only 50 per cent Capital Gains Tax payable on the sale if the trust owns more than 50 per cent of the business.
Where to start?
The Employee Ownership Association can provide guidance on the benefits of employee ownership and advice on how to become employee owned.