A North Somerset accountancy software firm has become employee owned in a move it says will "protect" the independence of the business and its culture.
Pill-based bluQube made the transition following a strong financial year in which it expanded into new commercial markets.
Simon Kearsley, the company's chief executive, said: 鈥渂luQube has always been about people. This move protects the independence of the business, secures the culture we鈥檝e built, and gives those who鈥檝e helped shape our growth a direct stake in where we go next.
鈥淲e鈥檙e not in this to chase hype or follow trends for the sake of them. We鈥檝e always taken a longer view, and the EOT structure aligns perfectly with that approach 鈥 measured, considered and led by people who genuinely care about the business.鈥
The company has transferred 100% of its shares into an Employee Ownership Trust (EOT), with any future profits redistributed through the trust structure. A staff council is also expected to be introduced later this year.
Day-to-day operations will remain unchanged, bluQube said.
The change to an employee ownership model comes as bluQube reports an 18% year-on-year increase in its customers and a 19% rise in subscription revenues.
The business was founded in 1996 following an management buyout from Oracle 海角视频. In recent years, the company has focused on developing automation and AI-led features in response to shifting market expectations, while avoiding what it describes as the 鈥済immick-led arms race" of tech adoption.
Looking ahead, the company said its focus for the year includes continued growth in commercial sectors such as logistics and marine, and further investment in AI-enabled tools for finance teams.
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