North Wales businesses boost local resilience and job satisfaction through employee ownership
For over 30 years, Cwmpas has supported businesses to transfer to employee ownership – from Tower Colliery, which became the largest employee-owned company in Wales in January 1995, to Dafydd Hardy, the first employee-owned estate agency in Wales, which transitioned late in 2024.
Several north Wales businesses have transitioned to employee ownership, or are working towards employee ownership, and now Cwmpas is celebrating Gwynedd as the first EO County in Wales.
Cwmpas’s EO assistance is supported by Cyngor Gwynedd. This project has received money from the UK Government through the UK Shared Prosperity Fund (UKSPF).
Employee ownership is one of the fastest growing business succession models in the UK. It places employees at the heart of corporate decision-making and profitability. It boosts business resilience and profitability, and builds community and employee commitment.
The Welsh Government committed to doubling the number of employee-owned businesses in Wales by the end of this Senedd term. With support from the Cwmpas Employee Ownership (EO) team, that target has been achieved two years ahead of schedule.
Councillor Nia Jeffreys, Cyngor Gwynedd’s Cabinet Member for Economy and Community, said:
“Cyngor Gwynedd understands that employee ownership is a great way to make high quality jobs paying fair wages available locally, enabling the people of Gwynedd to support themselves and their families.
“I am grateful that the Welsh Government is committing to the growth of employee-owned businesses in Wales. Gwynedd will continue to lead by example by embracing this proven model, and fostering an environment that supports employee-owned businesses for the benefit of all.”
Nicola Mehegan, Employee Ownership project manager at Cwmpas said:
“We are delighted to have recognised Gwynedd as the first Employee Ownership County in Wales.
“Employee ownership offers a long-term succession solution for thriving and ambitious businesses, helping to root businesses and important jobs in our communities. Gwynedd has a proud record of supporting employee ownership, and our ongoing work with Cyngor Gwynedd will make sure that more privately owned enterprises embrace employee ownership as a different way of doing business”.
In 2024, with branches in Bangor and Caernarfon as well as Anglesey and Conwy, Dafydd Hardy became the first employee-owned estate agency in Wales, supported by Cyngor Gwynedd and their SPF funding, safeguarding 44 jobs.
Former Co-Owner Dafydd Hardy said:
“Our employees have always been at the heart of our success. This move to an Employee Ownership Trust recognises their hard work and gives everyone an opportunity to further develop the business whilst retaining its unique Welsh culture and independence, and delivering exceptional service to our clients. It also ensures that the business will remain part of the local community for many years to come. I am truly excited for the future of the brand and our partners.”
Specialist EO consultant Mike Williams said:
“Dafydd Hardy Estate Agency is a very well-known and respected business in the region, having served the community since 1992. Now that the former owners have decided to move on, it’s excellent news that the future of the company is in the safe hands of the employees, allowing the business to continue without interruption and safeguarding so many local jobs in North Wales.”
Ruthin-based water and environmental engineering firm, Waterco, became employee-owned in 2023, safeguarding jobs for 60 employees.
The company manages drainage and flood risk, helping water companies to improve supply and reduce leakage in water networks, as well as upgrading ageing sewer infrastructure.
With an eye to retirement, founder Peter Jones sold his majority shareholding to an employee ownership trust.
Peter said:
“Employee ownership was a way to ensure we could keep our great team, continue to invest in the business, and keep the future of the company here in north Wales.”
Consultancy firm BIC Innovation, located originally in Gwynedd and now based in Anglesey and Bridgend, has quadrupled its workforce since becoming an employee-owned business in 2018.
Founding director, Huw Watkins, said that the transition to employee ownership had seen staff pull together.
“Each and every employee is invested in the future of the company and is working so hard to ensure we do our best to navigate our way through huge economic changes.
“I believe that our ownership model has helped us to create a culture of openness and transparency, collaboration and contribution, helped us to recruit and retain top talent, and given us a meaningful point of difference in the marketplace.”
Branwen Ellis, specialist EO consultant for Cwmpas, said:
“Employee ownership is a long term, sustainable way to run a thriving and ambitious business. It is a great way to maintain expertise from an already invested workforce, while giving employees ownership of the business and a real stake in its success.”
The Employee Ownership Wales service from Cwmpas is part of Social Business Wales, and part of the Business Wales family, both funded by Welsh Government.
On Employee Ownership Day in June last year, Jeremy Miles, then Cabinet Secretary for Economy, Energy and Welsh Language, said:
“Employee ownership delivers numerous benefits for employees and businesses alike, with evidence showing employee-owned businesses are more productive and more resilient. These are places rooted in their communities, providing quality, long-term jobs for the local area.”
