Workers buy-out: 30 years creating wealth in Italy
Between 2007 and 2013, the survival rate of Italian enterprises was 48.30% (after 3 years from their birth), whereas all Italian industrial cooperatives born after 2007 had a survival rate of 87,16% after 3 years , being the majority of them the result of workers’ buyouts supported by CFI, a society providing management support and follow-up to workers’ buyouts. This year the Italian cooperative movement is celebrating the 30th anniversary of the Marcora law, allowing enterprises to be transferred to their workers. On 7 July, the conference «Quando il lavoro si riprende il lavoro» (“When work retakes jobs », in English) where the Head of cabinet of the Prime Minister, Claudio De Vincenti, said: “thirty years of good job re-created in the community. This is what the Marcora law has made enabling enterprises to stay on the market, to overcome even the hardest years of the crisis”, was organised.
In recent years, between 2007 and 2013, with of 84 million euros available capital, CFI, a society promoted by the three Italian cooperative confederations, namely AGCI, Confcooperative and Legacoop supported cooperatives by investing in the capital of cooperatives – generated 473 million, with a financial return for the State up to 6 times the invested capital, saving and promoting more than 13,000 jobs with an average investment per employee of € 13,200.
“A new way of looking at work from the best tradition of Italian industry capturing innovative potential – said De Vincenti -. An effective tool because it is based on the promotion of enterprises based on participation, helping the country by getting back on their feet with their own resources. “
More information: http://www.cfi.it/public/video/lavoro-dal-lavoro.mp4