Mike Kemsley is Hon. Treasurer at Broad Street Ward Club and treasurer/trustee at EnhanceAble/Geneva Road Ltd.
It signals commitment in two directions – from a company to its employees and vice-versa;
It encourages employees to think and act as business people and develop the ‘hidden entrepreneur’.
Financial education for one thing; there’s too little knowledge outside the advisor community. Corporation tax breaks to help companies become employee owned.
Encourage banks to become more interested in funding employee buy-outs.
Take some advice from the Esop Centre and member firms that are plan users.
We will definitely see the sector grow.
I wish more non-executive directors and bankers would commit to gaining a proper understanding of the benefits of ESO.
Positive – the launch of the UK Share Incentive Plan;
Negative – the deferral of corporation tax relief previously available to companies funding their EBTs for legitimate purposes.
The election of employee-nominated board members.
UK politicians can see how the sector has developed in the US but are also conscious of European developments, e.g. in France where small business owners are required to inform their employees if they intend selling and to give them the opportunity to organise an employee buyout.
Living: Kevin SpaceyDead: Gore Vidal
No single book has changed my life but many have enriched it.
Oscar Wilde: Only dull people are brilliant at breakfast.
My best ideas usually materialise around this time of day!
Successful business start-up for the Bank of Boston (1983-88)
Turnaround, MBO, ESOP and eventual flotation of Sweett Group plc (1993-2007)
Balancing paid and pro-bono work since 2000.
Read a good book.