a day ago
- Business
- The Herald Scotland
Inverness architecture firm moves into employee ownership
It declared the shift of ownership into an employee-owned trust (EOT) marks a 'significant milestone in its evolution and commitment to sustainable growth'.
A statement said HRI was founded in 1997 and has built a reputation for delivering high-quality architecture across the Highlands and Islands. It expanded its presence across the north of Scotland with the opening of a second office, in Thurso, in 2019.
Director Vicky Hazell said: 'All successful businesses evolve, and the EOT model is particularly well suited to creative organisations like ours. Our professional team is deeply invested in the success of the practice, and employee ownership strengthens that connection.'
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The move by HRI follows a report in The Herald which revealed that companies in Scotland are transitioning into employee ownership at a rate of around 45 a year. It highlighted that firms which have been taken over by their staff are reporting an increase in production. Many company owners are choosing the option to ease concerns over succession planning.
The Scottish Government has set a target increasing the number of firms in staff hands to 500 by 2030.
Inverness is home to two of Scotland's largest employee-owned concerns – Highland Fuels and Carlton Bingo – while others in the Highlands include Aquascot, Swanson Fruit, Caley Timber, and Dynam.
Ms Hazell added: 'This change means our staff have a real stake in our success and will benefit directly as we continue to thrive. While our commitment to delivering a high-quality service remains unchanged, the added benefits of community impact, staff satisfaction, and shared success make this a powerful investment—for us and for our clients.'
