Worker Enterprise
Worker Enterprise : This is an economic venture which is owned and controlled by the workers (trade union members). Invariably, it is an initiative of the trade union, usually coming about under such situations as downsizing/ rightsizing, contracting - out, privatizing and redundancy. In these situations, the union will, among other things, see the need to have its members in continued employment, and also the uninterrupted production or provision of some vital goods or service. The mechanics of setting up such an entity would involve the members utilizing some portion of their redundancy payments to capitalize the business, and also the setting up of a board of directors from among themselves. Statutory requirements would also have to be met
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