By Ian McConnell

Business Editor

ALL 70 staff of Kilwinning-based Shuttle Buses have been given a stake in the company, with the business becoming employee-owned as its managing director prepares for retirement.

Managing director David Granger highlighted the importance to him of safeguarding the future of the employees as the deal was announced, declaring a trade sale could have been "disastrous".

Shuttle Buses, established in 1990, has 60 vehicles and operates commercial and subsidised local bus services, including school and private contracts, the “MyBus” on-demand service and private coach hire.

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Mr Granger said: “Having considered various exit strategies, it was clear that employee ownership was the best way forward for both me and the business. We have a great workforce, some of whom have been with the company for almost as long as I have, and safeguarding their future was equally important to me as my own.

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“Despite having grown to 70 employees we have managed to retain much of the ethos of a family company; my son and youngest daughter both work here and I think a trade sale could have been disastrous for both them and our other employees. Employee ownership gave me a tax-efficient exit, yet retaining both a role and a shareholding in the business, whilst passing on the role of managing director to my son.”

Co-operative Development Scotland – part of taxpayer-funded Scottish Enterprise – assisted Shuttle Buses in its transition.

Scottish Enterprise noted: “A key motivation for transitioning to employee ownership was to retain the ethos and culture of the company whilst anchoring it in the local community – something that could not be guaranteed with a trade sale.”

In May, a census commissioned by CDS showed there were 195 employee-owned businesses operating in Scotland, with this number now more than 200.