This section outlines the support available for groups wanting to consider or work througb an employee buyout. Help is available both via The Hive programme and from other providers - both of which are outlined below.
Support from The Hive
There are a number of support options available for you via The Hive. Please read carefully the information next to each 'type' of support availavle - group and one-to-one advice below.
Please read the information below but also visit the support and advice section which outlines what is available to groups wishing to explore employee buyouts.
A one-day meeting with a small number of potential clients (business owners looking to sell or employees looking to buy), designed to give an overview of Employee Buyouts. It will cover:
Phase 1 – Feasibility study (one day)
The Hive will undertake a one-day feasibility study of your organisation. This may include:
This feasibility study will be given to the client, who will then decide whether to proceed.
If the assessor feels that co-operative employee ownership option is not right for the client then no further support provided by The Hive, but alternative support might be offered directly by the provider.
Phase 2 – max 6 days
The Hive agrees to provide up to 6 further days of advice (matched 50:50 by the client), to a maximum cost of £2,400 plus VAT. If the implementation plan requires more than 12 days support in total, the additional days required will be paid for by the client.
This amount is payable directly to the organisation, only when it has completed the process and transitioned to the new structure. The client will contract directly with the Provider.
Phase 3 – embedding into the movement
Two years of membership of Co-operatives UK is included in the deal as a way of welcoming them to, and embedding them into, the movement.
Please note: The Hive supports both majority stake sales and phased sales. To ensure The Hive can demonstrate value for money and clear economic outputs linked to its investment in phased sale clients, those businesses should be able to demonstrate a clear plan to become employee-owned (51% ownership stake) within a two year period.
Support from elsewhere
If you’re looking for additional support that The Hive can not provide, you will need to find an Employee Buyouts specialist. Here’s who to contact:
- England: Co-ownership Solutions
- Scotland: Co-operative Development Scotland
- Wales: Wales Co-operative Centre