Co-operative push adds £9m to Scottish economy

Growing interest in the “John Lewis economy”, where firms allow their workers to take a stake in the business, helped the creation of 30 co-operatives in Scotland last year, according to new figures.

Co-operative Development Scotland, which aims to help develop employee-owned businesses, said the firms are expected to deliver £9 million to the economy over three years. The 2011 total matches the previous year’s record.

One of the companies helped by the Scottish Enterprise subsidiary is Aberdeen-based Accord Energy, which tracks the ownership of oil and gas products from the wellhead to the point of sale, and has set up a share incentive plan to allow its 22 employees to buy a stake in the business.

Of the 30 firms created last year, 21 are consortium co-operatives – groups of businesses that come together to enhance their growth potential – while five are community co-operatives, which allow people to collaborate for investment opportunities. The other four are employee-owned firms, where staff become shareholders.