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Hot Business News Today

Elite Business Live goes virtual – e-meet some of the biggest names in British business

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Originally written by Partner Content on Small Business
Elite Business Live, the national business advice and networking event, has announced its plans to take their annual event online. On March 11-12 2021, entrepreneurs from across the nation can interact with some of the leading names in British scale-ups, via a live stream service that is available completely free of charge.
With events often being a core part of a business’ marketing strategy, live events have been sorely missed over the last year; missed at a time when most businesses are facing elevated pressure on building pipelines and growth, in fact, arguably when they need them most. Aside from the lead generation and sales benefits events bring, they also bring much needed networking opportunities. It is often through the power of live events that you meet that golden nugget contact or hear that piece of advice that changes the direction you are going in that ultimately helps elevate your business.
At Elite Business Live, the focus is bringing to life and delivering the core aspects of live events that can help SMEs through these challenging times but doing it virtually. The team have worked hard to secure speakers who have built their business from

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Hot Business News Today

Pros and cons of employee ownership trusts (EOTs)

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Originally written by Anna Jordan on Small Business
Employee ownership trusts (EOTs) are relatively new in the business world.
The EOT survey 2019 shows that there are 241 verified EOT-owned companies and a further 34 EOT-owned companies that have been established for longer, otherwise known as ‘deemed EOTs’. Between the two, EOTs employ 23,000 people in the UK.
It’s a popular model in the manufacturing and professional services sectors. A large proportion are represented in London and Scotland, with virtually none in Northern Ireland.
Over half (55 per cent) of EOTs own the entire company; a further 40 per cent are hybrid models in which the EOT is a majority owner alongside employee shareholders and/or founders.
BDO predicts that a combination of Covid-19 and a rise in Capital Gains Tax (CGT) mean that shareholders are becoming increasingly likely to sell off companies before the end of the 2020/21 tax year.
We’ll explain just what an employee ownership trust is and the pros and cons of transitioning to this model.
What is an employee ownership trust?
An employee ownership trust is a specialist form of an employee benefit trust, introduced by the government in 2014.
With an employee ownership trust, shareholders are encouraged to sell their shares into a trust

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