Voice Technologies: talking employee ownership

Voice Technologies was founded in 1996 by Heather Wylie (above, centre). It now employs 24 people in Paisley and Sheffield, and returns annual profits in excess of £250,000. The firm is a specialist provider of speech recognition, digital dictation and automated correspondence technology for the healthcare, legal and government sectors.

The company has returned consistent growth since its formation, and is looking to exploit further opportunities in the growing technology sector - as organisations seek to drive efficiencies through the application of timesaving new technology.

Through discussions with Scottish Enterprise on the unique advantages of becoming employee-owned, Heather concluded that offering her team the opportunity to acquire a controlling-stake in the business was the best route to take Voice Technologies forward. 

Employee-owned businesses have demonstrated that high rates of growth, innovation, customer service delivery and competitiveness can be achieved when everyone within the business has shared ownership.

"Entrepreneurial plan"

The deal involved the creation of an Employee Benefit Trust, which acquired 75 percent of Voice Technologies, with Wylie retaining 25 percent of the business. Commenting on the move, Heather said: "After 17-years leading the business, the time is right to set in place an entrepreneurial plan to take Voice Technologies forward in the long-term.

"We could have acquired other businesses to deliver growth or made strategic investments in others, but that would involve debt and take important focus away from the things that count when running a successful business. Being acquired would also have ushered in a set of changes that I was determined to avoid.

"By becoming employee-owned, everyone within the business owns part of the business. We felt that shared ownership offered a unique and entrepreneurial way forward, and one that will help provide security and drive growth."

Alistair Graham, who becomes the new Voice Technologies CEO, added: “Heather has provided everyone involved in the business with a unique opportunity.

"We have a great team and range of products at Voice Technologies, with new systems and technical platforms coming on-stream. We have a strong and growing client list, operating across a range of secure business sectors, and a real sense of energy and optimism as to what we can achieve as an employee-owned business."

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