Employee ownership is logical – here is why other businesses should be following suit

Richer Sounds is doing it, so are other companies. Chris Blackhurst tells us why putting control of companies into the hands of employees is the way forward

Richer Sounds was founded in 1978 and has been booming since then (Getty)

As a business commentator, I’m not meant to have heroes, or to not admit to them at any rate.

But I confess: Julian Richer is right up there in my estimation. I must have spent a small fortune in his Richer Sounds hi-fi shops down the years, and, in a true test, I do not begrudge him a single penny. What I’ve bought has always worked, seemingly been the best I could afford at my price range, and the staff have always been helpful and knowledgeable. And his stores open at hours I can, and want, to visit.

You don’t feel ripped off either. Richer Sounds specialises in offering discounts from reputable brands, some of them high-end. So, there’s little glitz, no fripperies attached. Richer’s outlets are practical, down-to-earth, and because of that, genuine.