EOTs and B-Corps are our antidote to Trump rhetoric With Trump's rhetoric of profit and power over all else dominating the media agenda, business leaders may well be feeling hopeless. But I am determined to share a different narrative: that there is a different way to do business.

We shouldn't just give in and let the loudest voices drown out the thousands of hard-working individuals that believe that there is more to a business than just making the most money possible. Many want to empower their employees, make a positive impact on the world and collaborate with one another – and we shouldn't be ashamed of that. Now is the time to shout it from the rooftops.

Seeking out opportunities for collaboration and partnerships, particularly when it comes to areas like ESG (environmental, social and governance) is one key area that I believe businesses should prioritise during this time. Indeed, at Gusto Group, we want to share our ideas with others, rather than keeping our cards close to our chest. This is something I believe is just a waste of everyone's time, particularly as all businesses are facing similar issues. Now is the time to initiate dialogue with other organisations in your industry or community. We don't have all of the answers – no one does - but we are always open to new ideas. For example, we have just launched a training programme aimed at sharing the knowledge with other businesses.

There is also often a misconception that 'doing good' must come at the expense of being successful. This reminds me of the sentiment spread by the hit sitcom Ted Lasso. The show captured the hearts of the nation with its focus on embracing kindness and teamwork, over winning. And as fictional Richmond FC unexpectedly rose up the Premier League, the lesson was clear: care and success can go hand in hand. As chairman of our grassroots football club Newark and Sherwood United FC, I can see parallels in today's business climate. Despite what figures like Mr Musk would have you believe, prioritising people and planet doesn't mean compromising on profit – in fact, quite the opposite is true.

Employee Ownership Trusts, for example, are a surefire way to put people at the centre of business AND boost output. At Gusto Group, our decision to set a three-year timeline to 100% employee ownership and issuing growth shares to employees this year, is a proven way to drive innovation and productivity. We wanted to build a legacy for employees and to ensure that people feel invested in our collective success. By creating the right type of working environment combined with employee ownership, we believe that will see improvements in productivity, quality and staff retention.

But don't just take our word for it; the Employee Ownership Association (EOA) published a report that revealed that Employee-Owned Businesses (EOBs) are over 25% more likely to have seen profits increase in the last five years than non-EOBS and 57% reported profits increasing since becoming employee owned. And although EOTs do not directly shield employees from the increased National Insurance Contribution (NIC) burden, it can still provide a benefit by allowing companies to distribute tax-free bonuses up to £3,600 per employee per year, which although subject to NIC, can partially offset the impact of increased contributions on employees' take-home pay.

Making a positive impact on the world also doesn't need to come at the expense of profit. Becoming a B-Corp or gaining another type of ESG-related certificate may be time-intensive but the resulting benefits are clear. From 2019 to 2021, B Corp businesses were more likely to grow their revenue and their headcounts, with certified businesses reporting year-on-year growth rates of 23.2% compared to 16.6% for non-certified entities. B Lab UK also recently reported that between 2023 and 2024, small and medium-sized UK B Corps saw a 23.2% increase in turnover, compared to the national average of 16.8%. And perhaps more important from a bottom-line perspective is that they were more resilient – with 95% remaining in business in 2023 compared to 88% of non-B Corp businesses.

If businesses are able to pursue more sustainable, low-carbon solutions, they will also likely benefit in terms of increased efficiency and sales. Consumers are increasingly prioritising sustainability in their consumption practices for example. A recent study found that 46% of consumers are buying more sustainable products in order to reduce their impact on the environment and 80% are willing to pay more for sustainable produced or sourced goods.

Prioritising purpose may also lead to increased investment interest. I believe that one of the biggest opportunities for UK businesses is to align with the requirements of larger companies and investors; a lot of whom are becoming focused on their emissions, because they must consider the consequences of their investments and business actions. Take Coca Cola, for instance; probably one of the worst examples of a sustainable business but it is setting itself targets to transition towards net zero, because that's a focus for its shareholders. It is then feeding this down through the supply chain and starting to say, 'OK, if you're supplying Coca Cola, we want you to sort out your emissions.'

When I speak about putting people and purpose in line with profit, I by no means suggest that it is easy. Being able to prioritise sustainable and low-carbon solutions is a privilege that many cannot afford. As a business owner working across manufacturing and construction - two hard to abate industries I understand the continual balance act of profitably. The reality is that businesses need to make decisions that move them closer to their end goal and anything that diverts from that, frequently comes as a secondary priority. Ultimately, innovation needs to be made commercially viable for it to be accessible to the whole business community, not just those large enough to afford it.

This is where support in the form of grants - such as the Innovate UK Smart Grants Scheme, which is currently on hold - become so crucial. Many small businesses aren't operating on huge margins as it is, and without additional funding, those which might have been willing to cut into these margins previously to create a more environmentally conscious product – will no longer be able to. As a result, if we're not careful we are going to end up with an economy full of stagnant businesses unable to look beyond their own horizons and capitalise on opportunities to explore lower carbon solutions or more efficient ways of working, because they are instead preoccupied on keeping their heads above water.

If we want to turbo charge the economy, we should be pulling out all of the stops to encourage and incentivise those businesses who are willing to innovate and push boundaries, as well as supporting businesses in refocusing the type of services and products that they offer. For example, implementing carbon taxes whilst also providing clear financial benefits for businesses able to scale to sustainable technologies. The UK cannot rely solely on traditional economic strategies to deliver long-term prosperity. We need an economy built on empowered workers and thriving, innovative communities rather than one, solely focused on profit and cutthroat business deals.