Business consultancy BIC Innovation has officially transitioned to employee ownership.
Founded in 2004, BIC Innovation, which has offices in Anglesey and Bridgend, supports organisations across Wales and the UK to innovate, scale, and grow sustainably.
It says that same ethos has now shaped the company’s succession plan, adding that it is one that secures its legacy, empowers its people, and sets a clear direction for the future.
It says the decision to opt for indirect ownership through an Employee Ownership Trust (EOT) was driven by three key aims: preserving the legacy built by its founders, protecting employment and leadership continuity, and giving staff a greater voice in how the business evolves.
“Although there were a number of paths open to us, employee ownership was the one that best safeguarded our history and values,” said Huw Watkins, Founding Director.
“It reflects who we are: a people business, built on trust, collaboration, and long-term partnerships. This move ensures continuity of leadership while opening the door to new opportunities for the people who make BIC what it is.”
The EOT now owns the business in full, in trust for the benefit of all employees, giving them a stronger voice in its future direction.
“Becoming employee owned gives every one of us a stake in the future of BIC, not just financially, but in the decisions we take and the impact we want to have” said Wyn Jones, newly appointed Employee Trustee Director.
“It’s a proud moment for the whole team, and it deepens the commitment we already feel to our clients, each other, and the communities we serve.”
The leadership team remains in place.
“Employee ownership isn’t just about preserving what we’ve built, it’s about creating the conditions for fresh ideas to take root and grow,” Huw added.
“With a more engaged and empowered team, we’re better placed to explore new opportunities, respond to client needs, and keep growing in line with the values we’ve championed since day one: putting people first, building deep relationships, and making a difference where it counts.”
The move also puts BIC Innovation in a strong position to support other businesses considering their own succession journeys, the firm said. With in-house expertise in leadership development, governance and strategy, the team is already helping clients across sectors to think long-term and now brings direct experience of employee ownership to the table.
“Succession planning isn’t something you leave until you need it,” said Linda Grant, Managing Director.
“By transitioning now, we’ve secured the long-term future of the business, not just for us, but for our clients and the partners we work alongside every day. This is the right next step, at the right time, for the right reasons.”
BIC’s transition was guided by the expert teams at Cwmpas, the UK’s leading advocate for employee ownership, Geldards, a legal firm which has now helped over 30 businesses across Wales and beyond make the change, and BPU & Co Chartered Accountants who provided valuation advice.
Paul Cantrill of Cwmpas said:
“Back in 2018 I was delighted to assist the Board of Directors at BIC Innovation with the introduction of a share scheme which would allow employees the opportunity to buy shares in the company. Following the experience and success of the scheme, the company has now taken a logical and strategic step to become fully employee owned through the introduction of an Employee Owned Trust which will own shares on behalf of the entire team at BIC.
“This development comes at a great time for employee ownership in Wales as we approach and celebrate the 100th employee owned company. BIC Innovation has been in the vanguard of this development, actively championing and contributing to this success so it is entirely fitting that the company should be itself celebrating being fully employee owned. Congratulations to all the team at BIC.”
BIC Innovation is also a Certified B Corp.
“We’ve always believed business can be a force for good,” said Huw.
“Employee ownership makes that belief part of our daily practice, in how we work, how we grow, and how we lead. It strengthens the foundations we’ve built while opening space for new ideas, new opportunities, and new ways to make a difference. Our thanks go to Cwmpas and Geldards and BPU & Co Chartered Accountants for their support, and to our team for carrying forward what BIC has always stood for: believing in change.”
