Veterinary firm launches employee ownership trust

Arrowfield Veterinary Practice has launched an employee ownership trust.

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The practice is now 100% owned by its employees after the launch of the trust on 1 March.

Employee ownership is when employees own a significant stake in the organisation they work for, and is sometimes called a co-owned organisation.

The veterinary practice was advised by Graeme Nuttall, head of employee and mutual ownership at law firm Field Fisher Waterhouse, and author of The Nuttall Review on Employee Ownership, which was published in July 2012.

Paul Buckingham, director and veterinary surgeon at Arrowfield Veterinary Practice, said: “We settled on the employee ownership trust model because it means our vets, nurses, office and support teams own the organisation together and have a say in how it’s run, as well as a stake in its long-term success.

“We all have an interest in delivering the very best service to our community.”

Nuttall added: “We are pleased to see this new champion of employee ownership promoting the idea for vets. 

“As the UK government gets ready to introduce tax exemptions for employee ownership trusts, it is great to see the staff choosing this model.”