Callum and Marion Cameron, owners of Dundee based internet retailer, Buzzbase Ltd, have transferred their shareholding to an Employee Ownership Trust, securing the future of the company for the 8 employees.
The husband and wife team started the business in 2012 to supply giftware, educational materials and other goods online. The business has grown significantly by sticking firmly with their values of customer service and value and scores highly as a supplier to Amazon.
A sale to a competitor was a consideration for the Camerons, however, as they began to explore the option further, they had a concern over the disruption any change of ownership might have to the very loyal complement of staff. A conversation with their long-term business adviser, Colin Grant, introduced the couple to the idea of employee ownership. This appeared to be a perfect solution. A sale to an Employee Ownership Trust would allow both Callum and Marion to phase out their involvement with Buzzbase, allowing the new leadership team to develop. The Trust offered a stable ownership model that could exist for as long as the employees wanted it to, putting the future of the business firmly in the hands of those who have a direct stake in the long-term success.
Ownership Associates advised the couple on the possible models of employee ownership and supported the company and its employees through the business transfer project.
Callum says, “Alistair and Carole were both extremely helpful and having you on board gave Marion and I confidence throughout the process. We feel the whole process went smoothly.”
Buzzbase employees were delighted by the news, and are reassured that Callum and Marion will not be disappearing immediately.
“We can only thank both Callum and Marion for giving us this amazing opportunity” said Fiona Thomson, Stockroom Manageress, who has been with the company from the beginning. “They are great bosses and we have a wonderful team at BuzzBase. It’s so good to know that we’ll all continue working for the business – and making it even better for the future.”
The company is now looking to the future and has plans for extending the product range and expanding into other sales channels. All are agreed that employee ownership delivered the best solution for the Camerons, the employee team and for Buzzbase as an exciting, growing business.