EFES NEWSLETTER - APRIL 2016
Employee share ownership in SMEs
A first reliable study about employee share ownership in French
SMEs was published last month. It is well known that employee
share ownership in SMEs is underdeveloped in Europe, especially
compared to the USA. This is due to the remarkable effectiveness
of the ESOP model, in use in the USA for over 40 years, but
not in Europe. The usual evaluation of the number of employee
shareholders in SMEs is 1 million in Europe compared to 10 million
in the US. The new study, ordered by Eres and BDO, brings the
number of 250.000 in France, which confirms the former usual
We have a selection of 35 remarkable articles in 8 countries
in March 2016: Canada, France, Germany, Italy, Morocco, Poland,
Canada: Does stock-option taxation need a rethink? The
Canadian Government drops its plan to increase taxes on stock
Germany: The famous magazine "Der Spiegel"
is majority employee-owned for over 40 years.
France: Employee shareholders declined in numbers in
France and in continental Europe but employee savings were never
so high. New employee share plans for Schneider Electric, for
Orange, for Air Liquide, for Sopra Steria. 51% of French workers'
co-operatives are based on business transmission. First reliable
study about employee share ownership in French SMEs.
Italy: Parmalat and Prysmian give signals for employee
share ownership in Italy.
Morocco: First employee share plan for Airbus in Morocco.
Poland: Minister Morawiecki and the new Polish Government
release the long term development plan for Poland, based on
5 points, including employee share ownership.
UK: Bonuses for employee owners.
USA: A set of new ESOP companies. Employee ownership
in the presidential race. The lower unemployment costs of ESOPs
saved the federal government $13.7 billion in 2010 and $8.1
billion in non recession years in unemployment costs and foregone
The full press review is available
political roadmap for employee ownership in Europe
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