WEAll was honoured to be part of the All Party Parliamentary Group (APPG) on Limits to Growth at the UK Parliament this week.

Chaired by Green MP Caroline Lucas, and convened by the Centre for Understanding Sustainable Prosperity, the APPG provides a platform for cross-party dialogue on shared and lasting prosperity in a world of environmental, social and economic limits.

This session was the group’s AGM and it had a special focus on Wellbeing Economics. Professor Tim Jackson, a WEAll Ambassador, had prepared this briefing paper on tackling growth dependency.

The paper sets out a three-fold strategy for moving beyond GDP by: changing the way we measure success; building a consistent policy framework for a ‘wellbeing economy’; and addressing the ‘growth dependency’ of the economy.

In particular, the briefing recommends:

  • a determined effort to develop new measures of societal wellbeing and sustainable prosperity;
  • the full integration of these measures into central and local government decision-making processes;
  • the alignment of regulatory, fiscal and monetary policy with the aims of achieving a sustainable and inclusive wellbeing economy;
  • the establishment of a formal inquiry into reducing the ‘growth dependency’ of the UK economy;
  • the development of a long-term, precautionary ‘post-growth’ strategy for the UK.

A packed room of MPs and peers from all political parties was addressed first by Peter Schmidt, rapporteur to the European Economic and Social Committee’s (EESC) recent ‘own initiative opinion’ on The sustainable economy we need, then by Lisa Hough-Stewart, Communications and Mobilisation lead at WEAll.

Lisa focused her remarks on the need for new economic narratives, and the role of policy makers in helping shape those narratives. Explaining the work of WEAll and its members, she also gave details of the Wellbeing Economy Governments initiative (WEGo) which has Scotland, Iceland and New Zealand collaborating towards their shared goal of promoting economies based on wellbeing.

A robust and positive discussion followed the presentations, with clear interest in wellbeing economy ideas from all attendees and encouraging suggestions for driving the agenda forward at UK level.

Caroline Lucas has raised an Early Day Motion in Parliament in support of the findings on the EESC opinion, and the principles of a wellbeing economy. It is garnering support with more MPs across the political spectrum – you can view the motion here, and if you live in the UK, share it with your MP asking them to support it.

WEAll Advocacy and Influencing lead Katherine Trebeck was recently invited to be a featured guest speaker at the latest session of the Citizens’ Assembly of Scotland, on Saturday 18 January.

The Citizens’ Assembly of Scotland (the Assembly) is a group of 100 citizens from across Scotland that are broadly representative of the country and are coming together to address the following three questions:

  • What kind of country are we seeking to build?
  • How best can we overcome the challenges Scotland and the world face in the 21st century, including those arising from Brexit?
  • What further work should be carried out to give us the information we need to make informed choices about the future of the country?

Katherine has now adapted her contribution to the Assembly into a new WEAll Ideas paper entitled “A wellbeing economy for Scotland”. You can download it here.

You can also watch the whole session on the Assembly’s Facebook page here (or below) – Katherine’s contribution starts at 30:53.

From NHS Health Scotland website

NHS Health Scotland welcomes the First Minister’s move to prioritise a wellbeing approach to Scotland’s economy.

The economy plays an important role in our health and wellbeing because we know that poverty and income inequalities are major causes of health inequalities. Redesigning the economy with equality of outcomes for all, to ensure everyone is able to participate fully in society, is fundamental to improving health and wellbeing and reducing inequalities.

NHS Health Scotland therefore supports the new Public Health Priorities, including the development of a sustainable and inclusive economy which puts the health and welfare of people and communities first. This work will continue in Scotland’s new lead agency for improving and protecting health and wellbeing, Public Health Scotland, from the 1st of April.

Gerry McCartney, Head of the Scottish Public Health Observatory, NHS Health Scotland said:

“Public health isn’t often the first thing you thing you think of when talking about the economy. But, public health in Scotland is changing and we must do things differently across all the factors that have an influence on our health.

“Living in poverty is hard and damaging to our health. Having sufficient money is one of the many things that matters to health, along with being socially connected, feeling safe and secure, living comfortably and access to sustainable services. All of these are at the centre of a wellbeing economy and are part of the inclusive right to health.

“Moving towards a wellbeing economy where health, wellbeing and people-led outcomes are the drivers for all policies is a needed shift for everyone to have a fair chance to thrive. It’s a welcome change that puts the wellbeing of people in Scotland first and GDP second. When people are well and thriving, so will the economy. ”

Sarah Deas, Trustee, Wellbeing Economy Alliance (Scotland) said:

“A wellbeing economy is one that delivers for people and planet. Our current economic system is not doing this – it is creating physical and mental health issues. We have designed the economy this way, so we can redesign it with a different purpose; that of collective wellbeing.  We welcome NHS Health Scotland’s support for systems change such that the economy delivers good lives for people first-time around, rather than requiring so much effort to patch things up.”

WEAll Advocacy and Influencing lead Dr Katherine Trebeck recently gave a powerful new talk at TEDx Munich on why the future economy has to be a wellbeing economy

Watch her talk below or on YouTube here – and share far and wide to spread the message of why we need a wellbeing economy

Image from TEDx Munchen

WEAll Scotland’s Wealth of Nations 2.0 event, held in Edinburgh last week, didn’t just energise the packed out room – it generated buzz across Scotland and beyond about wellbeing economy ideas.

Scotland’s First Minister Nicola Sturgeon delivered a groundbreaking speech where she declared that Scotland must “redefine what success means as a nation”, and endorsed the approach of the Wellbeing Economy Alliance. Along with Iceland and New Zealand, Scotland is leading the pioneering Wellbeing Economy Governments initiative. You can read the full text of her speech here.

Sturgeon’s words, and the messages of the conference, generated extensive media interest. Here’s a roundup of the coverage so far:

Have we missed some coverage? Share links in the comments below!

Photo by brotiN biswaS from Pexels

 

WEAll Scotland hosts its second large scale event – Wealth of Nations 2.0 – in Edinburgh today.

The conference will be addressed by Scotland’s First Minister Nicola Sturgeon and attended by experts and practitioners working to transform the economic system from across Scotland.

Ahead of her speech, Nicola Sturgeon has issued a clear statement that “wellbeing is as important as economic growth” and that Scotland must “redefine what success means”. Read about her commitment to building a wellbeing economy in this BBC coverage.

WEAll’s Katherine Trebeck has written in today’s Herald newspaper about the significance of the conference and the urgent need for governments and all of us to take action in order to transform the economic system. She says that “Scotland also has a role to play on the world stage, demonstrating that humanity can determine economics instead of the other way around.”

In The Times, Head of Oxfam Scotland Jamie Livingstone writes about the injustice of unpaid care, and why valuing caregivers should be a litmus test of whether we are succeeding in building a wellbeing economy. Oxfam Scotland is one of the key partners and sponsors of the Wealth of Nations 2.0 event. Earlier this week they launched important new research into the value of unpaid care in Scotland.

Keep up with the Wealth of Nations 2.0 event as it happens by following @WEAllScotland on Twitter. This page will be updated with further media coverage as it emerges.

 

What exactly is a wellbeing economy and how can we put it into practice?

What are the options and what is the path that makes sense in each particular business context?

‘The Business of Wellbeing: a guide to the alternatives to business as usual’ is a new publication launched today by WEAll. It aims to answer these questions, and to inspire decision makers at small- to mid-sized organisations to explore the wellbeing economy space.

It includes:

  • Analysis of the dimensions businesses need to deal with when trying to contribute to building a wellbeing economy, from leadership to accounting for impact;
  • Case studies of pioneering businesses to inspire what’s possible;
  • Expert views on how to navigate transformation;
  • A self-assessment tool to help decision makers plan their next steps.

The guide was created through a participatory process, with a steering group of business and wellbeing economy experts.

Ten stakeholder interviews were carried out to gather input from different solutions providers and to give us insights on challenges facing decision makers.

The guide doesn’t aim to give a complete overview of solutions – but it does shine a spotlight on a selection of those we believe could be useful on your journey.

The guide was facilitated and co-designed with SenseTribe Consulting.

Download the PDF guide here – or explore extracts in our dedicated Business of Wellbeing web portal.

Following discussions with WEAll Scotland, Sue Rule of Dunoon was motivated to write and share this beautiful new poem.

By Anna Murphy

Where does money come from? What’s the purpose of economics? What is economics? Is growth the means to an end or an end in itself? Why are there people still homeless and hungry when the world has so much wealth? Why have we developed economic and political systems which disregard nature’s power and beauty? Can we fix the system with the very tools that built it? What does ‘the system’ even mean? 

What can I, as an individual, do to create positive change? 

Welcome to WEAll Read. WEAll Read is WEAll’s new book club, a community reading and discussing books relevant to the wellbeing economy: in essence, the goal is to answer the questions above…and the many more that crop up with each new book! It’s about making economics everyone’s business, because it is too important to be left just to the experts. 

A core premise of the wellbeing economy is that economic growth must not be an end in itself: but rather a possible means to the ultimate goal of creating human and ecological health, wealth and fulfilment. This challenges a deeply embedded assumption of traditional economics: that it is a science, devoid of values. At WEAll read, we believe in the need to bring values back to economic thought, knowledge, theory and practice.

Where did it come from? 

As a recent graduate starting out with a sustainable finance project, my 2019 New Year’s resolution was to learn about sustainability and economics (and ideally to build a community with whom to chat about this slightly niche topic). It all started with a LinkedIn post. I promised wine. The Impact Economy Book Club kicked off in Edinburgh and 8 months later, we welcomed Katherine Trebeck to the local bookshop. We were so inspired by her ideas and organisation, the Wellbeing Economy Alliance, that we joined forces! It was immensely exciting to discover an organisation turning the things we were reading about into action. 

‘Together we are greater than the sum of our parts’ goes the WEAll mantra, and this collaboration felt like exactly that. 

Where is it going? 

Think hundreds of local book clubs, far and wide, with people from diverse backgrounds and disciplines coming together to learn and take action with the wellbeing economy. 

We’re up and running in Edinburgh (join this Whatsapp Group to get involved), and start in Glasgow this month. Beth Cloughton, the Glasgow organiser, is also planning a book swap and online dial-in, already showing the power of creativity! You can join their Facebook Group here

We’d love for you to get in touch if you’d like to set up either a place-based or online club, and also have a Goodreads Group for anyone to join (you can find the books we read in 2019 there).

How we are at WEAll Read

  • Brave and respectful: we listen attentively and respectfully, and challenge bravely
  • Curious and skeptical: we are open to new ideas whilst also rigorously challenging them
  • Grounded in knowledge and action: each month, we conclude our conversations by making personal intentions to take action, based on what we’ve learnt

Where we could do with some help

Challenging conversation isn’t always comfortable. A few months ago, in Edinburgh, a book club attendee criticised it for being a feminist echo-chamber: we had apparently been read too many books by females. After establishing robust argument against this critique, the whiteness and Western-ness of all the authors whose books we had read was obvious, and problematic. This is why we believe brave conversations are necessary: uncomfortable moments produce stronger arguments and reveal important blind spots.

If anyone from the wellbeing economy community has books to recommend from perspectives we might have inadvertently missed, please reach out, we would love to hear from you. 

Join us on Monday 27th in Glasgow to discuss Kate Pickett and Richard Wilkinson’s ‘The Spirit Level’ or Tuesday 28th in Edinburgh, for Naomi Klein’s ‘On Fire.’ Looking forward to some new faces!

Books we read last year: 

  • Winners Take All, Anand Giridharadas
  • Lean Impact, Ann Mei Chang
  • The Purpose of Capital, Jed Emerson
  • A World of Three Zeros, Muhammad Yunus
  • Doughnut Economics, Kate Raworth
  • The Value of Everything, Mariana Mazzucato 
  • There is No Planet B, Mike Berners Lee 
  • The Economics of Arrival, Katherine Trebeck and Jeremy Williams

Discussions so far in Edinburgh

Katherine Trebeck comes to the book club in Edinburgh 

Summary notes of The Economics of Arrival 

Summary of Discussion, The Value of Everything, by Mariana Mazzucato

Summary of Discussion: There is No Planet B 

 

WEAll’s Katherine Trebeck was a featured guest speaker at the latest session of the Citizens’ Assembly of Scotland, on Saturday 18 January.

The Citizens’ Assembly of Scotland (the Assembly) is a group of 100 citizens from across Scotland that are broadly representative of the country and are coming together to address the following three questions:

  • What kind of country are we seeking to build?
  • How best can we overcome the challenges Scotland and the world face in the 21st century, including those arising from Brexit?
  • What further work should be carried out to give us the information we need to make informed choices about the future of the country?

The session on Saturday was the Assembly’s fourth meeting, and it focused on sustainability – applying economic, social and environmental lenses to Scotland’s sustainability challenges.

Katherine was invited to address the Assembly and outline the vision of a wellbeing economy, the role of growth and WEAll’s ideas for Scotland’s future.

You can watch the whole session on the Assembly’s Facebook page here (or below) – Katherine’s contribution starts at 30:53.

Session four of weekend 3 – Sustainability: environmental, economic and social lenses. We're LIVE at 14:45.

Posted by Citizens' Assembly of Scotland on Saturday, January 18, 2020

It is the end of the year and we are sharing the first yearly round-up of our activites here at WEAll Scotland.

We hope you find this document insightful and energising.

We wish you the best in your efforts in realising more of the wellbeing economy ideals in your communities and lives.

Happy holidays!

WEAll Scotland

 

WEALL SCOT_YRLY ROUND UP_2019

REPOST FROM CHRISTIAN AID:

By: Úna Bartley

Back in the late eighties, Christmas for me, meant extra shifts at WH Smith’s record department. More shifts meant more cash, and more cash meant more purchases from Ms. Selfridge for my ever expanding wardrobe with its fifty shades of black. With my shaky grasp on economics, the festive period seemed a win-win for all concerned: more work equalled more goods purchased. More purchased goods equalled more work. And more work equalled more goods to be purchased. What wasn’t to like?

Fast forward thirty years and this is the world that so many are living in and on which our economies depend. A world dominated by work (be it low-paid, well-paid or unpaid) and consumption.

This relentless treadmill of working to consume is underpinned by an economic system that prioritises the pursuit of profit and economic growth over the wellbeing of our communities and planet. It is a system that has given rise to stark inequalities and is devastating our environment. It has also subtly shaped our thinking so that with all that work and shopping, we often lose sight of what really matters to us: our family, friends and health. As well as what is essential for our survival: a sustainable and viable planet.

Yet it’s hard not to feel that change is in the air. Witness the recent series of political shocks, the volatile atmosphere across the globe and the sudden rise in protests against climate change.

While some are simply venting their frustration at a system that they feel has left them behind or is trashing our planet, others are quietly channelling their energy into establishing positive alternatives to our current economic model, from community energy projects to innovative business initiatives to ethical finance projects.

While some are simply venting their frustration at a system that they feel has left them behind or is trashing our planet, others are quietly channelling their energy into establishing positive alternatives to our current economic model

The Wellbeing Economy Alliance Scotland was established as part of a global movement which works to build on this momentum and to promote a wellbeing economy. Building such a radically different economy – one that delivers social justice and environmental health – will require participation from both ‘insiders’ & ‘outsiders’ across all sectors. Our role is to support, connect and amplify those who are already pioneering alternative practices and demanding radical change of our institutions, as well as to create platforms for a different narrative, including safe spaces for business leaders and politicians to explore a different economic model.

From the outset, WEAll Scotland has been overwhelmed by individuals and organisations in Scotland wanting to be part of the movement to build a wellbeing economy. To capitalise on that energy and potential, we are setting up a series of sector-specific clusters, including a ‘Faith Cluster’. Each cluster will work with participants to identify the leverage points and opportunities for change within their own communities, led by the question, ‘what can we do together that we can’t do apart?’.

The ‘Faith Cluster’ will build on the strong engagement we have had to date with the Church of Scotland and others. It offers particular promise given the track record of churches and other faith groups in leading some of the most successful social movements of our time, through mobilising engaged communities and by asking people to reflect on their values and our social norms.

The festive period is a good time for reflection, and if like me, you now think there has to be more to life – and Christmas – than work and shopping, we’d love to hear from you. You can stay engaged with the work of WEAll Scotland through our website, our Twitter account or by signing up for our regular bulletin at Scotland@wellbeingeconomy.org

Almost one year after publishing its first Vision Brochure, the Wellbeing Economy Alliance is excited to launch a brand new version of this important strategic document.

The WEAll Vision brochure sets out:

  • What WEAll is, including the background and vision for change
  • Details about WEAll’s theory of change and ongoing work
  • Who is involved with WEAll: the Amp team, Ambassadors, Global Council and Organisational members
  • WEAll’s future ambitions for transforming the economic system.
Click here to download a PDF of the new brochure now.

By Sam Butler-Sloss, Co-Lead of WEAll Youth Scotland and Organiser at Economists for Future

I got involved in the Wellbeing Economy Alliance because the case for repurposing and redesigning the economy to deliver wellbeing for people and planet is overwhelming. Yet, as a student of economics, it is unclear to me to what extent the economics profession agrees with this. 

In my experience, most economists want to enhance the wellbeing of humanity through analytical contributions. Yet, in the past several decades, dominant economic theory and practice has made a number of consequential errors that have compromised the discipline’s ability to fulfil this goal. Chief among them is the de-prioritisation of the single greatest threat to the wellbeing of humanity in the 21st century – the climate and ecological crisis. 

 Across teaching, research and public and policy engagement, economists have failed to adequately engage in this issue. The most cited journal in economics has never published an article on climate change. The teaching of economics remains abstracted from ecological foundations. And even as other academic disciplines have become increasingly vocal on this issue, economists have remained too silent. 

Worse too, when economists do engage, they often distort the problem. To name a few examples, their models tend to leave out tipping points, catastrophic risks and treat all threats as ‘marginal’. As a result, many economists’ contributions have been used as evidence to scale back, rather than scale up, climate ambition. 

The economics profession’s insufficient response to the climate crisis puzzles me – it appears they are not even living up to their own standards.  

Firstly, over the last several decades, economists have tried to convince the world that they are ‘scientific’. But, if they pride themselves on being scientific, then they must take the most important science of our day seriously.

Secondly, if the purpose of economics is to further human prosperity, then in an era of environmental breakdown, the exclusion of the natural world is only undermining that very goal.

 Thirdly, the priorities of economists are often governed by cost-benefit analysis, but there is no scenario that is more expensive than unabated climate change. Even when using this dangerously narrow framework, the economic imperative for urgent action is clear. With the inclusion of harder-to-quantify aspects, such as distributional justice, this imperative for action is only amplified.  

You might ask, why focus on economists? Is the inaction not the fault of politicians? Is it not a lack of political will? Sure, political willpower is in serious shortfall. As COP comes to an end, all eyes are on the world leaders. Rightly so. They must show leadership: they must take decisive and ambitious action or step aside for those that will. But pressure groups must also dig one layer deeper and ask how policy-makers make their decisions. For better or worse, economics has a central role in this process. If we are going to radically ramp up the ambition of climate policy, we must change how it is designed. We must change economics. 

That is what motivated us, a group of students from across the world, to found Economists for Future. To arrest the climate crisis, economics must move from getting it wrong to making it right. 

At Economists for Future, we are critical optimists. We have a deep belief in the power of good economics to make the world a better and more humane place. But we believe that we are currently not living up to our responsibility to help create and communicate a policy framework that accelerates the transformation to a more sustainable, prosperous and fairer world. 

At this stage, failure to step up to this responsibility and to seize this opportunity is to let down the world. If economists cannot engage in this economic transformation the science requires—then who? If we do not raise our game now—then when? The likelihood is it will be too late. In which case, history has every right to judge us harshly. 

In our one-page open letter we lay out the case for economists to raise their game. 

We are encouraging everyone to sign and share it. 

 

What?

  • In October 2018, Top up Taps – public drinking fountains – are rolled out across Scotland
  • 10 taps are set up: Fort William, Oban, Milngavie, Buchanan Street in Glasgow, Inverness, Aberdeen, Dunfermline, Dumfries and Edinburgh.
  • In less than one year, Scottish residents drank the equivalent of 90,000 330ml plastic bottles from the Taps.
  • In August 2019, what started out as a pilot project is greenlighted for expansion to push the total number of Top Up Taps to 70.

 

Why?

  • Scotland is buckling under excessive plastic waste, including plastic bottles, costing £11 million per year.
  • This despite the fact that almost 2/3 of residents in Scotland prefer tap water.
  • There are also health concerns: sugary drinks are fierce competitors to the good old H2o.
  • Public water fountains are nothing new: they predate running water in homes. But they have fallen into disuse.
  • Various cities are bringing them back with vigour. Amsterdam, to name but one, launched its plan in 2015, with plans in 2018 to introduce 300 additional spots.

 

How?

  • The policy choice and design is part of the Scottish Government’s programme of 2018-2019, which includes investment of around £600 million into water infrastructure
  • The infrastructure is implemented by Scottish Water

 

 

 

 

 

 

What?

  • Saughton Park, City of Edinburgh Council, is the UK’s first green-powered or low-carbon park.
  • The park utilises the green energy Ground Source Heat Pump, powered by a micro-hydro system located on the Water of Leith.
  • This energy powers recreational and visitor facilities

 

 

 

Why?

  • The park renovation is part of the City of Edinburgh Council’s Sustainable Energy Action Plan projects, which number 120 overall.
  • This is in support of the Scottish Government’s energy strategy to decentralise and decarbonise Scottish energy systems.

 

 

 

 

 

How

  • The Saughton Park energy schemes have 6 different funding channels, including the Heritage Fund, Sustrans, Scottish Energy Efficiency Programme, Salix Finance and Scottish Power’s Green Economy Fund.

 

You can read more about the initiative in Green Spaces Scotland’s own case study here.

WEAll’s Katherine Trebeck recently gave the evening keynote lecture at the Nourish Scotland conference in Edinburgh.

This new talk takes an in depth look at the role of food in our economy. In it, Katherine examines what our food systems would look like and do in a wellbeing economy.

Watch her fascinating talk HERE from 23:30.

A new WEAll Ideas paper has been published today, setting out what a wellbeing economy is in a variety of styles.

Compiled by Lisa Hough-Stewart, Katherine Trebeck, Claire Sommer and Stewart Wallis, this ten-page PDF document aims to make wellbeing economy concepts accessible and clear to all readers.

All the material contained in the short paper has emerged from conversations and discussions with people in the WEAll family and beyond. Much of it is synthesised from their reports, papers and vision documents. There are too many minds and ideas to acknowledge them all individually, but their work is vital in informing understanding of a wellbeing economy.

Download the paper “What is a wellbeing economy?” here

What are WEAll Ideas papers?

Little Summaries of Big Issues

The Wellbeing Economy Alliance seeks to make the economy more humane and more sustainable. With over 100 affiliated groups across the world, we are as broad as the current model is narrow – diverse in our experience, expertise, focus, strategy, and our spheres of influence.

We agree that not only do we need to collaborate to have the impact we need – ‘togetherness above agreement’ – we also share a sense of what a wellbeing economy is. Different parts of the movement will emphasise different elements and add more details as their experience, knowledge, and focus allows – but they will do so from a common sense of what a wellbeing economy is all about.

The ‘WEAll Ideas: Little Summaries of Big Issues’ paper series is an attempt to share some of that sense in different formats that are useful for different audiences.

The content in this paper is drawn from the wellbeing economy community in its broadest sense. Our founding members contributed to the goals/fundamentals/building blocks – themselves drawing on processes of engagement, dialogue and discussion with their networks. People from all over the world have added to the Old Way Vs New Way matrix. And WEAll’s communications group has helped draft the everyday explanation.

 

Wellbeing economy ideas are making a splash around the world. Global and national media outlets are giving them more and more attention.

This week, the Wellbeing Economy Governments partnership of Scotland, Iceland and New Zealand had positive coverage from Australia to the US.

And our own Katherine Trebeck went down a storm as a panellist on BBC Debate Night in the UK.

Check out all of the coverage from the past week here:

Image: SBS World News

At the end of 2017, Auchrannie resort on the island of Arran in Scotland became the first Scottish resort to transition to a model of employee ownership. A trust now owns 100% of the company’s shares on behalf of its 160 employees.

The co-founder, and Managing Director since 2010, Linda Johnston said of the employees in relation to the transfer:

“They realise that what each of them does will affect the future success of the business and that this is directly linked to their own success, so they have already become more engaged in making the business better and understand the power and influence each and every one of them now has on their own future.”

 

New targets for the business

New efficiency targets for the business, agreed by the ‘new owners’, created the conditions to become a Real Living Wage Accredited Employer in April of 2018.

While the efficiency targets helped boost profitability, paving the way for the introduction of the Real Living Wage, there was also a recognition that the introduction of the wage would in and of itself support further financial benefits. These included lower staff recruitment costs (due to higher retention), greater productivity and increased occupancy from an improved reputation.

Linda Johnston, MD of Auchrannie resort

“Employee ownership will give the whole Auchrannie team a stake in the continued growth of the business. All of us will work together to build a more efficient, sustainable and profitable business.”
explains Linda Johnston

 

Since the acquisition of a 16-room guest house in 1988 by Linda and her late husband Iain, the resort has become home to two 4-star hotels, 30 5-star self-catering lodges, 14 luxury ‘Retreats’, two leisure clubs, 3 restaurants, children’s playbarn, a destination spa and outdoor adventure company.

 

Ownership transfer as an exit strategy

The ownership transfer was born of a desire for an exit strategy by the Johnston family (sole owners of the resort) that would allow the business to continue to flourish as well as upholding the ethos of the company, maintaining and motivating the team plus continuing the community’s access to the facilities of the resort.

“We are confident that the collective efforts of our fantastic team will continue to strengthen Auchrannie’s customer care and community focus as well as improving the sustainability of the business going forward.”
adds Linda Johnston, MD and former owner of the resort

Crucially, the transfer arrangements were designed for it to be affordable to the business to be able to reinvest in the future as well as financially reward the employees after the transfer. The previous shareholders will be paid out of the profits of the business over the next 25 years.

  • This is an extract from the forthcoming ‘The Business of Wellbeing – Alternatives to Business as Usual’ Guide, launching in January 2020. For more extracts, please click here
  • To stay informed of the release of each extract, please sign up to our newsletter here.