What has most astonished me this week is the French company legal statute called SCOP.
The specificity relies in promoting a better return to the workers and in protecting the company again financial speculations.
At first glance, it sounds fair and sustainable … but then I realized that it wasn’t possible when you leave the company to get back your part of the valuation :
Let’s assume I start a company with subscribing 51% of the capital of 10,000 € ; I work in that company for 10 years and extend customer base, develop high performance employees, optimize all business processes and generate tremendous EBITDA … so that in the end the value of the company extends to 70 million € … when I sell my shares of a SCOP, I’ll get back 5,100 € !!
Of course I will have received salaries and compensation for my good work but there won’t be further return on the capital invested nor on the value created.
And I was very surprised that in France the utopia still exists that you can create sustainable employment without being attractive to investment.