Gwynedd and Ynys Môn account for 18% of Employee Ownership Wales’ current companies, according to new research from the employee ownership (EO) support and advisory service.
The region also accounts for 13% of all enquiries to the EO service in the past year. Currently, the team is working with a high number of businesses based in Gwynedd and Ynys Môn, who are looking to complete their transition to employee ownership by April 2026.
In the region, jobs have been safeguarded thanks to those companies transitioning into employee ownership and keeping jobs in Gwynedd and Ynys Môn, rather than possibly being moved out of the region in a trade sale.
Dafydd Hardy Estate Agents in Gwynedd, Ynys Môn and Conwy, made the transition to employee ownership in November 2024. The EOT safeguarded jobs at its five branches in Bangor, Caernarfon, Llangefni, Llandudno and Colwyn Bay. The company, which was the first estate agent in Wales to go EO, employs people across North West Wales.
Dafydd Hardy said of the process:
“SMEs really need to think seriously about succession planning and EOTs are just one option for that. For us, it was the perfect solution.
“My co-director Richard Thomas and I live locally, work locally, employ locally and we wanted to remain a part of our community knowing that we had done right by those who work for us and for our community – selling to a corporate would have changed that. If we had sold to a bigger corporate estate agency firm, we would have lost a significant number of jobs across the business, and that’s not what we’re about. The EO seemed like the best option for our employees, customers, local communities and maintaining the use of Welsh language in the business.”
Dafydd added:
“More than a year after we made the transition to an EOT it’s all going well. I still work part-time for the company, keeping that continuity for clients and colleagues and it has been widely welcomed by all. It was the right decision for us and would recommend other North Wales businesses looking at succession planning to explore the option too.”
Research from 2023 found that Gwynedd is also the top Welsh local authority with the most employee-owned businesses per head of population.
Employee ownership (EO) in Wales has increased significantly since the first EO Social Business Wales advised on, which was Tower Colliery in 1995. There are now 100 employee owned businesses in Wales.
Mike Williams, EO Specialist Consultant for Cwmpas, said:
“This has been our busiest year in the region for advising businesses about the employee ownership option. To see so many North Wales businesses reach out to us to seek advice and information about how EOTs work and could benefit their companies and staff members has been really encouraging – but our doors are always open to speak to even more interested business owners. In particular, Gwynedd and Ynys Môn Councils have always been supportive of our work and continue to be so. The ongoing partnership with their business support teams, and the invaluable support received from the Shared Prosperity Fund (SPF) in both counties, is a positive outcome for many local businesses who are considering EO as an option for their succession plans and is an important factor in helping to preserve jobs in North Wales.”
The Employee Ownership Wales service is part of the Social Business Wales programme delivered by Cwmpas. It is part of the Business Wales family and funded by Welsh Government and the European Regional Development Fund.
The UK Shared Prosperity Fund (UKSPF) proactively supports delivery of the UK Government’s five national missions: pushing power out to communities everywhere, with a specific focus to help kickstart economic growth and promoting opportunities in all parts of the UK. Cyngor Gwynedd and the Isle of Anglesey Council has supported Employee Ownership Wales via the UKSPF.
