Inglewood-based web design firm Bam Creative has become an employee-owned company with the majority of the firm's staff taking up the opportunity to become a business owner with much less risk usually associated with starting up a company from scratch.
Inglewood-based web design firm Bam Creative has become an employee-owned company with the majority of the firm's staff taking up the opportunity to become a business owner with much less risk usually associated with starting up a company from scratch.
Bam, founded in 2002 by managing director Miles Burke, became a wholly-owned subsidiary of Westway Nominees, owner of Western Australian IT firm, Bekkers after acquiring rival web company Cube7 in 2006.
Bam said the sale of shares in Bam Creative allows Westway to focus on delivering IT services, whilst still holding a stake in the future of Bam Creative.
Mr Burke believes the employee buyout ensures that Bam Creative has a tremendous future.
"It has always been my management style to encourage employees to have a sense of ownership, and this news means that the majority of employees really do have a share in the company's future success, which will naturally improve the motivation and morale of the team," Mr Burke said in a statement.
The company said the result of 80 per cent of the employees becoming shareholders means that a new level of enthusiasm and responsibility to colleagues, suppliers and clients has already become evident.
Full announcement below:
Perth web design company, Bam Creative, announces internal buyout, and becomes an Employee Owned Company.
Perth, Western Australia, 8th January 2010: It was announced today that Western Australian award winning website design and development company, Bam Creative, has had a majority share acquired by its existing employees.
Bam Creative was founded in 2002, and has been one of the most awarded web companies at the annual WA Web Awards since they were established in 2005. In 2006, Bam Creative acquired rival web company Cube7, and then became a wholly owned subsidiary of Westway Nominees, owner of Western Australian IT firm, Bekkers. This sale of shares in Bam Creative allows Westway to focus on delivering IT services, whilst still holding a stake in the future of Bam Creative.
"I believe an employee buyout ensures that Bam Creative has a tremendous future" says Miles Burke, Managing Director. "It has always been my management style to encourage employees to have a sense of ownership, and this news means that the majority of employees really do have a share in the company's future success, which will naturally improve the motivation and morale of the team." Miles added.
Bam Creative will remain in the same premises for the time being; however it isn't business as usual for the employees. The result of 80% of the employees becoming shareholders means that a new level of enthusiasm and responsibility to colleagues, suppliers and clients has already become evident.
"This is an important step both from an employee ownership perspective, as well as a client service angle. The buyout is creating a new enthusiasm to build upon our previous experience, and return greater results to our existing client base." Patima Tantiprasut, a newly elected employee turned Company Director, stated.
Miles Burke, founder of Bam Creative will remain in his position as Managing Director. Joining him are two existing employees, Mark Termeer and Patima Tantiprasut, who
