Size Matters When It Comes To Family Business
19th February 2016 Paul Andrews
There is a continuing need to dispel the myth that family business and small business belong in the same sentence!
Maybe it is just me but I get more than a little frustrated with the way that the world perceives the family firm. Thankfully, gone are the days when family businesses were mentioned in the same breath as soap operas like Dallas, Dynasty and Eastenders but there is still a long way to go in order for them to be recognised for who they are and what they do.
It is a positive move that the Australian community now has a minister responsible for family firms although this has to be countered by the fact that the role is as family business and small business minister. We need to resist from mentioning family businesses and small businesses in the same breath, a challenge the world over!
I totally understand that there are millions of small family businesses, some entrepreneurial, many others lifestyle firms in nature, and these should be applauded for the contribution they make in terms of income, employment and community involvment. However, when you mention that the likes of JCB, Walmart, Bechtel, Westfield, Villeroy & Boch, Adidas, Babolat, SC Johnson, Tunnocks, Warburtons and Baxters are all family owned there is often an air of disbelief. But family firms they ARE and they uphold strong family values at the core and are even seen referring to their family ownership in the advertising collateral that they disseminate.
Cathay Pacific is part of The Swire Group, another family business conglomerate and there are hundreds of other family businesses the world over that are NOT small.
Family businesses come in all shapes and sizes and it is our aim at Family Business United to help put the family business sector firmly on the map and we are on a mission to try and ensure that 'family business' and 'small business' are not seen as going 'hand-in-hand.' We champion the sector and family firms of all shapes and sizes, share their news and resources to help them achieve their goals and to that end size does not matter - what matters is dispelling the myth that family business = small business.
The world needs to move on - size matters!