b"ARTICLEempowering the team; We are juststrengthened the businesss financial over a year in, so still early days, but westability. We are optimistic that this are already seeing much more directmodel will continue to benefit our input from our team who are invited toemployees while safeguarding the long-contribute in a number of different ways,term future of the practice.''whether it be as a Trustee Director, partEmployee-owned models present a of a focus group or just providing ideascredible pathway beyond the current for discussion. wave of corporate consolidation, helping Kiri Harvey is one of a new generationpractices retain their autonomy while of directors who joined the board atstrengthening team engagement and completion of Donald S. McGregorthe long-standing bonds they hold with and Partners transition to employeeclients. For those considering how best to ownership. ''The directors beganplan their succession, transitioning to an exploring alternative business ownershipEmployee Ownership Trust offers a route models when it became clear that fourto step back in a way that reflects their out of six the shareholders were planningvalues - ensuring that the workforce, the to retire or leave within the next three tocommunity they serve and the ethos of five years, she explained.the practice continue to guide its future.Transitioning to an Employee Ownership Trust (EOT) model has eliminated the need for new leaders to take on large personal loans. Becoming an EOT has allowed the outgoing shareholders to be paid out gradually, while enabling future leaders within the business to acquire shares once those payments are complete. The EOT structure has proven highly beneficial for Donald S. McGregor and Partners, facilitating a smooth transition of management knowledge and responsibilities from the outgoing partners to the next generation of leaders. When we became an EOT, two of us - myself included - joined the board of directors alongside three of the former shareholders. This marked the first time that women have served on the board within our practice, said Kiri. Overall, the EOT model has supported individual career development, provided flexibility for shareholders andMoray Vet team boat tripSimon Everingham& Cristn Craig Simon Everingham is an employee ownership adviser and senior manager and Cristn Craig is a senior legal manager and employee ownership adviser at Baxendale Employee Ownership, providing expert advice on employee ownership in all its forms. An employee-owned business itself, since 1983, Baxendale Employee Ownership has helped more than 300 businesses become employee owned and offers an unrivalled combination of legal, financial and practical experience and expertise in the sector. Simon and Cristn have now supported several veterinary practices through successful transitions to employee ownership.www.inspiredvet.co.uk15"