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5 Nov 2013

By The Press and Journal

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employee ownership

Specialist hydrocarbon accounting company Accord Energy Solutions has credited its employee-ownership for a big jump in annual turnover.

The Aberdeen firm turned over a record £4.3million in its latest financial year, a 3896 in- crease over the previous 12 months.

Accord was established just three years ago and claims to be Scotland's only "from start-up" employee- owned business. Its recent growth led to staff getting annual bonuses of an  average 12% of their salary and maximum payout under the firm's share incentive plan. Employees will be awarded £3,000 of shares each and have the option of purchasing up to £1,500 of additional partnership shares, which would then be matched two-to-one by the company.

'We have 28 staff and 11 associate consultants," co-founder and director Alan Spence said, adding: 'We want to increase our numbers to 50 staff. Oil and gas is competitive market- place, but we think embracing employee ownership has given us a competitive edge."