WED 15TH AUG 2018

RSS:

Bringing the family business community together

People Issues Come To The Fore

21st May 2018 Paul Andrews

‘Having the right people in the business’ is the biggest challenge facing family businesses according to new report.

Armstrong Watson, Accountants, Business & Financial Advisers have published their 3rd annual Family Business Insight Report, delving into the current issues dominating the agenda for UK Family firms.

Following a record response of over 500 family businesses predominantly located across the North of England and Scotland, the report provides vital insight into the most important topics and concerns worrying, hindering and providing aspiration to family managed firms.

The survey report – available to download at www.armstrongwatson.co.uk/familybusinessreport - covers four key areas; People Management, Digitalisation, Innovation and Growth, and Planning to Let Go.

Whilst some of the results may reaffirm current thinking, there are also many surprises, one being the biggest challenge facing growing businesses is not funding - as might be expected - but instead having the right people in the business, with 35% of respondents listing this as their ‘biggest challenge’. Other highlights include attitudes to new statutory schemes and legislation, with GDPR, Making Tax Digital and auto enrolment all showing interesting responses.

Paul Dickson, Chief Executive, Armstrong Watson said, “Family Businesses are the lifeblood of our communities and the results provide us with a unique look into the inner workings of arguably the most important sector within our economy."

“Last year our firm celebrated 150 years of supporting and advising clients and, just as our firm has evolved during this time, we recognize that it is essential to understand how family businesses develop during their lifecycle too. The family business survey allows us to do this.”

To discover how your business compares to others across the country, register for your free copy of the Family Business Insight 2018 at www.armstrongwatson.co.uk/familybusinessreport

 

Tags

Supporting Links

N/A

Assets

N/A

Related News

New Family Business Heritage Library

Family Business United ('FBU') have teamed up with Western Pension Solutions ('WPS') to launch a new resource for the family business community. Read More

Further Expansion At James Jones & Sons

James Jones & Sons (Pallets & Packaging) Ltd has announced the acquisition of one of the UK’s leading pallet collar manufacturers, Billington International Ltd. Read More

Family Firm Launches Fashion Label

In an effort to help women feel their best at work, Meijer recently launched its own relevant, fashion-forward clothing line, bridging the gap between denim and the ever-formal business suit. Read More

comments powered by Disqus