Against the ‘predatory capitalism’ that
anguishes lots of working people today, co-operatives are a viable business
model that puts money back into the people’s pockets. Announced in the Queen’s
Speech, the new Enterprise and Regulatory Reform Bill, which aims to remove
barriers to British companies and boost economic growth, would be the first
step towards realising this. Alongside the introduction of the bill, I would expect
a lot from the reviews of tax and regulatory treatment for employee-owned
businesses that HM Treasury and BIS will conclude later this year.
In my last blog article, I mentioned ‘social
franchising’ can make this happen much sooner. But before it does, we need
something that can plug into the ‘normal’ system to gain co-ops a solid
footing. The Government in the Enterprise and Regulatory Reform Bill could go
further with a recast or hybrid company model for easing incorporation and
seeking finance.
