By John Baumback, CEO, Seetec Group
In January 2020, Seetec became majority employee-owned. It was a pivotal decision: rather than “selling out,” we chose to sell in—putting long-term stewardship, service continuity and shared prosperity at the heart of our business model. Since then, our employee-owners across the UK and Ireland have shown what’s possible when colleagues have a real stake and say in success.
As an employee-owned business with teams in Ireland and the UK, we’ve seen how EO fuels sustainable growth—higher engagement, longer-term decisions and stronger continuity for customers. Ireland now has a real opportunity to unlock more SME successions by modernising the tax treatment of Employee Ownership Trusts so “selling in” to employees is as attractive as selling out overseas. Let’s level the playing field and back a model that keeps jobs, skills and value rooted locally—while giving people a genuine voice in how their company is run.
What employee ownership has delivered at Seetec
Better engagement, better outcomes. When people are co-owners, accountability and pride rise. We see stronger collaboration across contracts and regions, deeper customer relationships and a culture that refuses to settle for “good enough.”
Continuity for customers and communities. EO has anchored our mission—supporting people, employers and communities—through market cycles and leadership transitions.
Long-term decision-making. With an ownership model designed for stewardship, we invest for the next decade, not just the next quarter. That shows up in quality, innovation and resilience.
Talent attraction and retention. A clear purpose plus a real stake helps us recruit great people and keep them growing with us.
Social Value. EO keeps jobs and investment in local communities, aligning with Seetec’s purpose is to support individuals, businesses and communities to achieve sustainable growth. Our employee owners deliver additional social value through our EO Community Investment Fund and volunteer days.
The Irish perspective: strong potential, practical barriers
Our teams in Ireland live the same EO values—but the current tax treatment of Employee Ownership Trusts makes it harder to deliver those benefits at scale. Compared with the UK, where EO is a fair, simple and competitive choice, Irish founders and firms can face a relative disadvantage when they try to transition to employee ownership. The effect is perverse: it can be easier—and more financially attractive—for a good Irish business to be sold abroad than sold to its own employees.
This isn’t about special pleading; it’s about parity. If we believe in locally rooted ownership, resilient SMEs and widely shared prosperity, then EO should be a mainstream option—not a costly detour.
What needs to change (and quickly)
Targeted, practical fixes would unlock a wave of responsible successions in Ireland:
Modernise EOT tax treatment so selling to an employee trust is no less attractive than a trade sale.
Provide clear guidance on governance and compliance to reduce friction and uncertainty.
Enable modest, tax-efficient employee bonuses linked to EO status—aligning effort, performance and reward.
These are focused, evidence-based steps that would keep ownership, jobs and value local while safeguarding Exchequer revenues through stronger, more resilient businesses.
Why this matters now
A huge cohort of founders will retire over the next decade. Without a viable “sell-in” route, too many healthy Irish SMEs will be absorbed or offshored—not because it’s better for workers or customers, but because policy nudges the market that way. Employee ownership offers a different path: rooted, responsible, and performance-driven.
So here’s what I’m asking for:
Policymakers & officials: Let’s modernise Ireland’s EOT framework this year—give founders a fair choice to sell to their teams.
Business advisers (accountants, lawyers, bankers): Work with us to make EO transitions practical for more SMEs.
Founders considering succession: Talk to companies who’ve done it. We’re happy to share what we’ve learned at Seetec.
If you believe in locally owned, high-performing businesses that share success more widely, now’s the moment to act. Let’s make selling in as attractive as selling out—and unlock the full potential of employee ownership across Ireland.
John Baumback, Group CEO, Seetec