Jigsaw, the family-run estate agency in Selby, has made a bold move by transferring its ownership to an Employee Ownership Trust (EOT), empowering its staff with a direct stake in the company's future. This strategic shift marks a significant change for the business after two decades of serving the local community.
The story begins over 20 years ago when Sandra Widdrington founded Jigsaw Letting, with her daughter Sharon and son-in-law Davy Northcott later expanding into residential sales in 2014 through their launch of Jigsaw Move. Both will continue to play active roles within the business, with Sharon remaining in a consultancy capacity.
An Employee Ownership Trust board, comprising Sharon Northcott, Davy Northcott, Alix Simpkin, Beckie Atton, and Connie Bell, has been established to oversee this new structure. According to Sharon, their decision for employee ownership was driven by the agency's long-standing team members who have played a pivotal role in building its reputation and growth.
Jigsaw's adoption of an EOT is part of a growing trend within the UK property sector, where family-run businesses are exploring alternative succession planning models as founders consider their exit strategies. Employee Ownership Trusts offer attractive tax benefits and allow businesses to maintain their independent identity, differing from traditional acquisitions seen in recent years.
The agency reassures its clients that service delivery will remain unchanged, with familiar staff members continuing to provide support. Sharon Northcott and her team have reaffirmed their commitment to the business, ensuring a seamless transition for those relying on Jigsaw's services in Selby.