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New website created to raise awareness of employee ownership as a business option

18 July 2017

TransfertoCoops.eu offers guidance for company owners and employees in a bid to boost the model across the EU

Business owners and employees looking to convert enterprises to cooperatives can now learn more about the process using a new website launched by Cooperatives Europe and CG Scop.

The platform, TransfertoCoops.eu, focuses on the benefits of converting small and medium enterprises (SMEs) into worker owned co-ops, while providing information for all parties involved in a business transfer.

The website is part of the TransfertoCOOPS project co-financed by the European Commission and developed by 10 European partners led by CG Scop, the French Confederation of worker co-operatives.

More than 450,000 SMEs are transferred each year in the EU, and the initiative was designed to improve the environment of converting enterprises into worker cooperatives as well as help people understand how the co-operative enterprise model works.

The English website was developed based on a pilot version previously launched in France. It features videos, tips on how to lead a successful business transfer and testimonies from employees, consultants, and buyers.

A frequently asked questions section also addresses some of the most common misconceptions around the co-operative enterprise model.

The website also touches upon the important role played by chartered accountants in the process of converting the business, with advice on how to ensure a smooth transition.

Patricia Lexcellent, director of CG Scop, said: “Sharing the French experience of transferring economically sound businesses into worker-owned cooperatives with other EU countries is an exciting project which will hopefully contribute to extending such practices across Europe.”

Agnes Mathis, director of Cooperatives Europe, added: “Though co-operatives make up a large part of the EU economy, business transfers into cooperatives remain less known, despite the clear benefits.

“TransfertoCOOPS will encourage potential transferors to choose the co-operative model as the viable option for their businesses and ensure sustainable employment.”

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