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Bringing the family business community together

Latest Family Business Insights (Sept)

20th September 2016 Paul Andrews

Check out a selection of the latest thought leadership pieces relating to the world of family business.

Outlined below are the recent pieces that we have commented on with insights into some of the challenges that family businesses have to deal with.

Succession Planning: Why Every Entrepreneur Needs To Prepare For The Worst.
Entrepreneurs are optimists. They have to be; they have to believe that their brilliant idea is going to work or happen. When it works, it is going to get even better and better still.Never in their wildest dreams are they mortal and never in their wildest dreams do they stop to think about the future after they have gone. It is here and now and not tomorrow. The business is their baby and they want to see it grow.

As they say, Tax and Death are the two certainties in life. So at some point, the founder, the family and the business need to think about succession planning. Read more

Can we get millennials interested in pensions?
Pensions involve a minefield of complicated choices for UK consumers, and none more so than for millennials. Unlike the generations before them who enjoyed generous final salary pension schemes, millennials have no choice but to divert more of their salaries into pension schemes to ensure they accumulate enough to enjoy the same standard of living in retirement. Read more

Weird Ways To Boost Family Business Morale.
This article highlights some inventive ways to motivate staff and create a good atmosphere within the business to help maximise the contribution from all involved. Family firms however are often in a better space, with a culture and values that engender performance, and as they progress through the generations and professionalise structures, they also create trust, respect and loyalty.  Read more

When your parents divorce...and you are an adult.
You would imagine that when the children of couples divorcing are adults it is much easier for them to deal with. Research shows it is not necessarily easier, but the way they deal with it is different.  Read more

Educating Kids About Money When There Is A Lot Of It!
Money conversations are often awkward, even (maybe especially) with the people closest to us. But putting them off — or never having them at all — isn’t the answer. Helping our children understand the responsibilities of wealth stewardship and keep the “long game” in mind is serious business." Read more

Do You Have What It Takes?
Taking on a family business can be a tough role to take, requires leadership skills and qualities and abilities that only get the chance to come to the fore when the next generation are actually at the helm.So what makes a good leader? Read more

Dyson Plans To Remain A Family Firm.
A real insight from one of the UK's leading family business entrepreneurs, and his views are closely aligned to many other family business owners too.The determination to remain private, family owned and a desire not to list and bring in the influence of external shareholders are often cited as reasons for keeping the firm in the family. A profitable, sustainable family business helps too! Read more

Succession Remains A Key Canadian Family Business Challenge. 
Another piece of research and the conclusions, family firms are at risk due to the lack of focus on succession planning.A challenge the world over and it is important that family firms not only recognise the challenge, but do something about it... Read more

These insights are brought to you by Family Business United ('FBU') and seek to raise awareness of the unique issues and challenges facing family firms, their owners, stakeholders and the next generation.  FBU is an award-winning magazine and resource centre that champions the family business sector, provides a community for like-minded owners and their advisers and celebrates the contribution that family firms make the world over.  To find out more please take a look at www.familybusinessunited.com 

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