What is a Worker-Owned Company?
IN SHORT:
It’s a public or private limited liability company whose capital is mostly
owned by its own workers
Social, local and economic impact
A more participatory, equitable and sustainable model. More ownership, more future.
IDEAL FOR STARTUPS
Simplicity in terms of creating and managing SALES, enabling each worker-owner to contribute different capital amounts.
It also means that investment partners can come in, and enhances team spirit and engagement with the business project, as workers feel like they are a part of the company and information about business progress flows more smoothly.
FACILITATES OWNERSHIP HANDOVER
The Worker-Owned Company makes it easier for the company to continue after the retirement of the previous owner, allowing the workers to remain in-house. Similarly, selling the company to its own workers is easier and more feasible than to a third party. Selling to the workers is more advantageous in terms of taxation than selling to a third party. Worker-Owned Companies, in short, make it easier for a company to stay in the region, thereby continuing to contribute to the local job market and society as a whole.
FACILITATING BUSINESS MODEL CONSOLIDATION
The Worker-Owned Company model brings stability and permanence to your business.
It eliminates the confusion between personal and business assets, since the economic responsibility for the business remains within the company.
It offers a more ‘serious’ and consolidated business image to financial institutions, customers and suppliers, giving them more security when dealing with them. Taxation is better than in the case of sole proprietorship or a community of assets.
LEGAL BENEFITS
Majority of share capital held by the workers. Liability limited to the capital contributed. Access to share capital by venture capitalists. Ownership and voting rights proportional to capital contribution. Access to the capitalisation of unemployment for the constitution and incorporation of partners in the company. Contribution to the general social security scheme with all benefits, except for the company of two. Specific grants for the constitution and incorporation of members. Social Security Rebates.
What is an Investee Company?
It is a company owned by the workers – whether it’s a public limited company (S.A.) or a limited liability company (S.L.) – that does not meet the requirements to become considered a Worker-Owned Company, but in which there are partners who are also workers and/or there are mechanisms in place to enable workers or their representatives to buy into the company.
Ownership aims to secure workers’ commitment to the company’s objectives through a sentiment of shared project purpose. By sharing the management, the successes and responsibilities are also shared. Additionally, key aspects such as innovation, attracting and retaining talent and business sustainability are promoted and consolidated.
TESTIMONIES
Worker-owned companies are an opportunity for your personal and professional development. In addition, they encourage teamwork, collaboration with your colleagues and the sharing of a goal and the results of the work. They also foster job stability, reduce conflict and strengthen a sense of regional rootedness.
Marian Tapia
ZORROTZ LEGAZPI S.L.L.
I had already created another Worker-Owned Company, I knew the model, so I explained it to my partners and they were fully on board. So, we turned to ASLE for help with all the necessary elements to create the company and get it up and running.
Ieltxu Aginako
ESCAPA DEL NORTE S.L.L.