Lincoln

Web design firm transformed into John Lewis-style employee-owned company

Web design firm DBS has been transformed into a John Lewis-style employee-owned company.

Established in 1996 by founding director David Clarke, DBS has rolled out a new strategy for the business by offering staff members the opportunity to own a share of the firm.

Now, Julie Priestley who has been with DBS for over 15 years, will join David as a director at the Navenby firm and 100% of the shares are held by a mixture of the Employee Owned Trust (EOT) and the employees themselves.

Seven out of the eight employees have taken advantage of becoming owners of the business alongside the Employee Owned Trust.

The EOT will now be financed by the company over the next few years on favourable terms, giving David the means of a gradual exit for himself whilst securing the future of the business.

David Clarke said: “All of the DBS team members now own a part of this fantastic company.

“For me it makes great business sense to reward the very people that have helped to build DBS.

“Now that the whole team has equity we have a vested interest to grow the company even more.

“I have no shares in the business now.”