Denholm Good Logistics Limited, an award-winning 3PL provider of end-to-end supply chain services, is proud to announce that it has been named Sea Freight Forwarder of the Year at the 2025 British International Freight Association (BIFA) Awards. This marks the second year running that the business has received this prestigious industry accolade. The BIFA Awards recognise excellence, innovation and best practice across the freight forwarding and logistics sector. Being recognised for a second consecutive year highlights the strength of Denholm Good Logistics’ people, solutions and customer partnerships, as well as its ongoing commitment to delivering high-quality, bespoke services. Alan Platt, Divisional Managing Director of the Denholm Logistics Group, and Paul Ferguson, Managing Director of Denholm Good Logistics, attended the awards ceremony on behalf of the business. The event provided an opportunity to connect with peers from across the industry and celebrate the high standards achieved throughout the sector. This year’s award submission focused on the scalable, tailored sea freight solutions delivered for a key customer as their business continues to evolve and grow. These solutions included dual sea freight strategies to manage urgent and non-urgent cargo, the innovative use of vessels as ‘floating warehouses’, named account allocations combined with spot market optimisation, and rail-based inland transport solutions designed to mitigate port congestion while significantly reducing carbon emissions. Leadership Statements Paul Ferguson, Managing Director of Denholm Good Logistics, said: “We are honoured to be named for the second year, Sea Freight Forwarder of the Year. A massive shout out to our dedicated Control Tower team and our dedicated Account Manager Danny Price for their exceptional work in designing integrated, end-to-end solutions that deliver real value and create a strong partnership that continues to evolve. It is a privilege to be recognised alongside such strong competition in our industry.” Alan Platt, Divisional Managing Director of the Denholm Logistics Group, added: “Another wonderful achievement from the DGL team, demonstrating our ability to be able to listen to our customers in order to deliver bespoke solutions to meet their needs. It is always a privilege to receive such awards. We value our customers hugely and also our colleagues in helping us to perform consistently and go the extra mile.” Continued Focus on Partnership and Innovation Denholm Good Logistics continues to invest in people, technology and sustainable transport solutions to support customers operating in complex and time-critical supply chains. This latest award reinforces the company’s position as a trusted 3PL supply chain partner capable of delivering flexible, forward-thinking sea freight solutions. Photo: Left to Right James Watt, MD of Port Express (Sponsor) Paul Ferguson, MD of Denholm Good Logistics (Winner) Steve Backshall, Naturalist and Explorer (Event Host)

In family enterprises, success is often described in terms of legacy, long-term stewardship and shared identity. But beneath these ideals lies a day-to-day reality that is far more complex: the constant balancing act required of family members who are also shareholders, and in some cases employees, directors or informal advisers. The ability to juggle these roles, sometimes gracefully, sometimes awkwardly, is one of the least discussed yet most critical skills in family business life. In a typical company, roles are clearly defined. A manager manages, a shareholder invests, a board member governs. In a family firm, however, the same person may occupy all three positions simultaneously, and the boundaries between them can blur without anyone quite noticing. The father who is also managing director expects loyalty as both parent and leader. The daughter who is marketing manager must consider how her decisions affect her siblings at the shareholder table. The cousin living abroad may hold equity but not employment, challenging decisions without the benefit of daily involvement. These overlapping identities can be a strength, but only when handled with care. The Family Hat: Where Emotion Meets Identity When family members step into the business, they never leave their relationships at the door. The emotional bonds that define the family unit shape expectations, communication patterns and even conflict. Conversations that begin as strategic discussions can slide quickly into long-held family grievances or rivalries. Conversely, family loyalty can encourage remarkable commitment and resilience, helping firms weather difficult periods that might topple a non-family enterprise. Yet the family hat also carries risk. It can create entitlement, resistance to change or unrealistic expectations of inclusion. It may blur meritocratic principles or discourage accountability. The challenge lies in recognising when family identity should guide decisions, and when it should give way to the needs of the business. The Ownership Hat: Stewardship, Rights and Responsibility As shareholders, family members have distinct roles and responsibilities that differ from their emotional ties. The ownership hat concerns itself with longer-term issues: preservation of wealth, capital allocation, dividend policy and the protection of family legacy. This hat requires a mindset rooted in stewardship rather than sentiment. Shareholders need to understand financial performance, risk tolerance and strategic direction. They must advocate for transparency, good governance and responsible management. For some family members, particularly those not active in the business, wearing this hat can be challenging. They may feel distant or under-informed, leading to frustration or suspicion if communication falters. Equally, those working inside the firm may forget that shareholders—family or not—have legitimate questions and rights. The art lies in ensuring all voices are heard without allowing ownership to be mistaken for operational authority. The Employee or Manager Hat: Professional Competence Over Bloodlines For family members who work in the business, perhaps the most delicate hat of all is the employee or managerial one. Here, competence must matter more than lineage. Effective family firms insist that working family members perform to the same, if not higher, standards as non-family colleagues. Wearing this hat means accepting accountability, respecting hierarchy and making decisions based on organisational needs. It also requires humility: an awareness that family status does not automatically confer expertise. The tension arises when employees who are also shareholders must challenge decisions made by other family members, or when their dual identity leads colleagues to question their objectivity. Professional leadership in a family firm demands an acute awareness of how much weight each hat should carry in a given moment—and when one should be set aside. Why Mastering the Hat-Juggling Act Matters The ability to navigate these various roles is not merely a personal skill; it is foundational to the stability and longevity of the enterprise. When individuals fail to distinguish between hats, several problems typically arise. Conflicts become personalised rather than professional. A disagreement over investment strategy is interpreted as sibling rivalry. A performance review sounds like a parental critique. Decisions that should be made with shareholder logic become clouded by family loyalty or frustration. On the other hand, when family members consciously shift between their hats, conversations become clearer and more productive. Decisions become more transparent and defensible. Expectations are set and understood. The business benefits from healthy challenge, robust governance and professional discipline, while the family benefits from stronger relationships and fewer misunderstandings. Creating Structures That Support the Balancing Act No one should be expected to master this delicate juggling unaided. Strong family firms create systems and forums to help their members navigate the complexity of their roles. Family councils offer a place to discuss family issues separately from business topics, reducing the risk of emotional spill-over into board meetings. Shareholder assemblies or educational programmes ensure all family owners—particularly those outside the business—understand performance metrics and strategic decisions. Clear governance documents such as family constitutions codify expectations, role definitions and decision-making processes. Meanwhile, boards staffed with independent directors bring an invaluable outside perspective, ensuring that the business is not governed by family dynamics alone. They also help reinforce professional standards and create boundaries that protect both the enterprise and the relationships underpinning it. The Human Advantage: When Multiple Hats Become a Strength Despite the inherent complexity, the ability to wear multiple hats can be a powerful asset. Family members bring a depth of commitment and a sense of purpose that is difficult to replicate in non-family-owned firms. Their varied perspectives—as relatives, owners and often employees—offer a holistic understanding of the business and a multi-layered loyalty to its success. When family members consciously and skilfully switch between their roles, they strengthen governance, reinforce shared values and build a culture that prioritises long-term continuity. They also create an environment in which governance is not imposed from above but lived and practised from within. A Skill Worth Honing In family businesses, the importance of role-juggling is often underestimated. Yet it is this very skill—knowing which hat to wear, and when—that differentiates thriving family enterprises from those that falter under the weight of their own complexity. Mastering this art enables conversations to stay productive, decisions to remain principled and family relationships to stay intact. It preserves not only the health of the business, but the harmony of the family itself. In essence, juggling hats is not a burden to be endured but a craft to be cultivated. For family businesses aiming to thrive across generations, it may well be the most valuable skill of all.

The UK private sector was buoyed by a sharp expansion in output among mid-market businesses at the end of 2025, which has helped to fuel optimism for 2026, the latest NatWest UK Business Growth Tracker data revealed. Planned recruitment, stronger sales pipelines and expectations that the UK economy will pick up were reportedly behind firms' upbeat forecasts. The data reflects figures published by the Office for National Statistics last week which showed that the UK economy recorded growth of 0.3% in November – with the improvement in output led by the services sector. NatWest’s Tracker – which is based on the Purchasing Managers’ Index and surveyed mid-market businesses operating in the manufacturing and services sectors – rose to 55.3 in December, up from 54.3 in November. Any reading above 50.0 signals growth, and the further above the 50.0 threshold the faster the rate of growth signalled. NatWest’s tracker found the upturn in mid-market was broad-based across the manufacturing (index: 51.1) and service sectors (index: 56.0) in December, though the latter was the growth engine. Mid-market firms principally linked higher activity to improved order numbers, with some mentions of increased workloads due to the launch of new products and services and an influx of new customers. In contrast, UK small and medium-sized enterprises (SMEs) continued to experience challenging business conditions in the closing months of 2025. SMEs reported that heightened economic uncertainty, exacerbated by the late November Budget, contributed to them delaying decisions around new business and hiring. Cutbacks to employment numbers at SMEs persisted in December, which extended the current period of job losses to 15 months. Increased wage burdens, as well as higher fuel and food costs, also exerted pressure on firms margins in December. The overall rate of input price inflation was the fastest since last April. In response, businesses sought to alleviate margin pressures by raising their prices – which led to the strongest rise in output charges for five months among SMEs, and for four months among mid-market businesses. Sebastian Burnside, NatWest’s Chief Economist, said: “The latest data reveals business owners are heading into 2026 with greater certainty, hopeful that market confidence will improve and optimistic that will lead to stronger inflows of work this year." “Mid-market businesses are feeling notably brighter about their prospects than they were at the end of 2024. Growth in the private sector continues to hinge on their performance, and they closed the year with a strong surge in sales. These businesses scale and agility meant they were able to maintain solid momentum, despite the uncertainty raised by a late November Budget." “SMEs are positive about the year ahead but continue to find the business environment challenging. Many pointed to the Budget as a factor which delayed decision-making among their customers and led to reduced demand. Costs – particularly for staff and raw materials - remain elevated, but there is reason to hope that inflation will fall over the course of the year and reduce this burden.” Andy Gray, Managing Director of Commercial Mid-Market at NatWest, said: “This data shows that mid-market businesses are a powerful engine of the UK economy, and an important source of economic growth. NatWest’s Critical Middle research found that just 1% growth in this segment could add £35 billion in gross value add to the UK economy by 2030. That’s why we established the Mid-Market Growth Council last year, supported by the UK government. With the one-year anniversary of the Council fast approaching, we continue to work with business and industry leaders to advocate for tailored support to unlock the full potential of these businesses.” New orders rise at mid-market firms, but fall at SMEs December survey data signalled a further rise in new business placed at mid-market companies, confirming a full quarter of growth. However, the latest data indicated another decrease in total new orders received by SMEs, which continued the trend seen since December 2024. That said, the rate of contraction moderated since November and remained much less marked than on average in the first half of 2025. Lower employment for businesses of all sizes Cutbacks to employment numbers at SMEs persisted in December, which extended the current period of job losses to 15 months. The rate of job cuts was softer than in November, however. Although mid-market businesses made further reductions to their staffing numbers in December, the rate of contraction was only modest overall and eased since November. Inflationary pressures intensify across the board Average cost burdens faced by SMEs increased at a sharp and accelerated pace in December. Here, the rate of input price inflation was the fastest since last April. Across the mid-market, average input costs continued to increase at a substantial rate at the end of 2025. The rate of inflation picked up to a seven-month high. Efforts to alleviate squeezed margins led to the strongest rise in SME output charges for five months, while mid-market firms increased their selling prices to the greatest extent since last August. Business expectations improve for 2026 SMEs indicated positive expectations for business activity over the course of 2026. While confidence levels improved across the manufacturing and construction sectors, service providers indicated that business optimism slipped to an eight-month low in December. Meanwhile, the level of confidence across the mid-market improved from November, pushing further above the UK-wide trend, but still below October's one-year high.

Hampshire-based business ChalkStream Foods has been named the UK’s SME Food and Drink Manufacturer of the Year at the Food and Drink Federation’s (FDF) inaugural MP’s Choice Awards. ChalkStream was nominated for the award by local MP, Caroline Nokes, MP for Romsey and Southampton North. ChalkStream Foods beat stiff competition to be awarded the prize during a ceremony at the Houses of Parliament for its work to bring British trout back to the nation’s menus. Out of a shortlist of 12 regional finalists, ChalkStream impressed the panel of judges for its commitment to restoring the trout farming industry and Hampshire’s Itchen and Test Rivers, which are some of the world’s best known chalk streams. ChalkStream has spearheaded support for the extension of Wild Fisheries Protection Zones across these rivers, meaning 90% of the Upper Itchen river has now been converted to wild fishing. Alongside its sustainability credentials, the business has revitalised a traditional rural industry, employing long-standing members of local Hampshire farming families across four supplier trout farms. The MP’s Choice: Food and Drink Manufacturer of the Year Awards recognise the outstanding contributions small and medium-sized food and drink manufacturers bring to communities across the UK. MPs from every constituency were invited to nominate businesses worthy of this recognition with the winner being chosen by a panel of esteemed judges, including Food and Drink All Party Parliamentary Group Chairs, Mike Reader MP and Amanda Hack MP, Editor of The Grocer, Adam Leyland, and Sainsbury’s Commercial Director for Grocery and GM, Rachel Clark. The food and drink manufacturing sector, which is made up of 97% small and medium sized businesses, contributes over £37 billion to the economy, accounting for almost a quarter (24.2%) of total manufacturing turnover. The sector also provides around 500,000 jobs in every corner of the country. Karen Betts, Chief Executive, The Food and Drink Federation, said: “The UK’s small and medium-sized food and drink manufacturers form the backbone of our industry, creating innovative, local products valued by communities. Our award celebrates the entrepreneurialism, creativity, drive and passion of small food businesses, and the sheer hard work they put in to succeed." "Their ripple effect is immense, building prosperity in their local areas and providing great jobs and longer-term careers in their communities. The finalists were all stand-out businesses, leading the way in their specialisms, and FDF and the judging panel salute their commitment to bringing us delicious, nutritious, and sustainable food and drink." “ChalkStream is an exceptional example of the best the UK’s food sector has to offer. Their products are second to none, and their commitment to sustainability, championing British produce and creating skilled jobs is particularly impressive. I’m delighted to see the Hampshire-based business recognised by MPs as the SME Food and Drink Manufacturer of the Year.” Hugo Hardman, Managing Director, ChalkStream, said: “We’re honoured to be named winners of the MP’s Choice: Food and Drink Manufacturer of the Year awards. Our mission is to champion British trout, support our rivers and farming communities, and produce food we can be truly proud of. This recognition belongs to our team, our partner farms and everyone who believes in the future of British freshwater fish." Caroline Nokes, MP for Romsey and Southampton North “The Test Valley trout is more than an iconic local symbol, it is a fabulous culinary success story, driven by ChalkStream and recognised all over the world." “I am so thrilled ChalkStream has won this fantastic award, recognising a brilliant local business that has celebrated our local fish and put it in the finest restaurants and venues. I am very proud that this brilliant Hampshire business has been named SME Food Manufacturer of the Year." “It was great to visit them last week and see the beautiful rainbow of fish at Greatbridge, thriving in the waters of our local chalk stream, the Test. It is local, healthy produce, enabling us to enjoy great flavour, providing employment, and putting Romsey firmly on the culinary map.” ChalkStream Foods was crowned the winner at a Parliamentary reception on 14 January 2026, attended by MPs, industry leaders and FDF representatives.

The Pothole Partnership is leading calls for five-year warranties to be given on pothole repairs to ensure delivery of permanent repairs – and help save cash for council taxpayers. The Pothole Partnership was formed two years ago by the AA, JCB, British Cycling and the National Motorcyclists Council. The Partnership has consistently warned that much of the recently announced additional government funding to local authorities for pothole repairs is still being wasted on short-term fixes, with too many locations re-visited within 12 months. The alliance marked National Pothole Day by calling for a minimum five-year warranty to be issued on every non-emergency pothole repair. It coincided with the publication of data which showed the AA was called out to 613,638 pothole incidents in 2025 – an average of 1,681 every day – including 58,380 last January and 58,275 in December. Edmund King, president of the AA said: “The Pothole Partnership is proposing that councils and contractors should be compelled to issue five-year warranties on every non-emergency pothole repair. Potholes not only damage cars, but they also put the lives of cyclists and motorcyclists at risk." “The proposals for a five-year warranty would mean that if a contractor or sub-contractor fixes a non-emergency pothole, a warranty for that repair would be issued for five years. If a pothole reappears within five years, it would be repaired for free of charge under the warranty. This proposal has the potential to save money for council taxpayers but more importantly, ensure the pothole is repaired correctly first time.” Digger maker JCB manufactures the JCB Pothole Pro which repairs potholes four times faster than traditional methods and at half the cost. JCB General Manager Ben Rawding said: “Many councils across the UK are already reaping the benefits of using the JCB Pothole Pro which delivers a long-lasting repair to potholes which is faster and cheaper than the traditional manual methods. The proposed warranty scheme would be another great initiative to drive down costs for council tax payers and, crucially, ensure permanent repairs.”

Scottish retailer launches new website and digital platform alongside Winter Sale Sterling Home has launched a new website and digital platform, bringing customers a much faster, personalised and more inspiring online shopping experience. The new site coincides with Sterling Home’s Winter Sale and marks a major milestone in the ongoing transformation of the family-owned Scottish retailer. Built on Shopify Plus, the website now has a range of enhanced features designed to improve the customer journey and support the future growth of the business. These include richer product content, improved performance across devices and interactive 3D product models and colour swatches on selected ranges, allowing customers to explore furniture in greater detail online. Behind the scenes, the new site represents a step change in Sterling Home’s digital capability, with the ecommerce platform now directly connected to its back-end order management system so the availability of stock is much more reliable. The website previously relied on manual data uploads and manual order processing, which limited scalability and the ability to deliver joined-up customer experiences. The new integration has been delivered using iPaaS solution Patchworks, which developed a bespoke connector to Sterling Home’s Swan ERP platform. This creates a single, automated flow of product, pricing and order data between systems, laying the foundations for more efficient operations and future innovation. Sterling Home partnered with Shopify specialist development agency Underwaterpistol to design and build the new platform. The nine-month project involved close collaboration between Sterling’s internal teams and external technology partners. Alongside the website launch, Sterling Home has also implemented a new data warehouse built on Google Cloud. For the first time, this aggregates data from across all business touchpoints into a single platform, enabling the team to better understand customer behaviour and deliver more personalised experiences across digital touchpoints. Ryan O’Donovan, Head of Marketing and Digital at Sterling Home, said: “We’re really excited to launch this new online experience for our customers. This isn’t just a new website, it’s a completely new digital foundation for the business. By connecting our ecommerce platform with our core systems for the first time, we’ve removed a huge amount of manual effort and created the platform we need to grow, personalise and improve the experience for our customers.” Sophie Seaton, Managing Director at Underwaterpistol, added: “Working with the Sterling Home team has been a brilliant collaboration. This was a complex build that went far beyond a front-end redesign, and the result is a robust Shopify Plus platform that gives Sterling the flexibility and performance it needs to continue evolving its digital offer.” Founded in Scotland more than half a century ago, Sterling Home has built its name on craftsmanship and quality. Today, it has stores across the country, including its flagship Tillicoultry outlet alongside Glasgow, Edinburgh, Aberdeen, Uddingston, Dunfermline, Montrose and Elgin. The newly refurbished Tillicoultry store reinforces the brand’s position at the forefront of UK home retail. As it looks to the next half-century, the store combines heritage and innovation on a scale unmatched anywhere else in the country. The new Sterling Home website is live now here.

The Happy Egg Co., the UK’s No.1 egg brand from Noble Foods, has partnered with Channel 4 to launch Tiny Farmers - a fun, family friendly episode that explores what goes into creating the best on farm environment for hens. Fronted by Harriet Cowan (Clarkson’s Farm) and comedian Jessica Knappett (The Inbetweeners Movie, Taskmaster), the programme brings together entertainment and education, shining a light on the care and expertise behind British free-range egg farming. Produced by Interstellar TV, Tiny Farmers features Noble Foods’ own agricultural experts, who share insights on hen welfare and the journey from farm to table. Four children take on challenges to become “egg farmers of the future” - from caring for hens to showcasing their cooking skills - offering viewers a playful yet informative look at modern British egg farming. Kate Charman, Senior Brand Manager at Noble Foods: “This partnership with Channel 4 is a fantastic opportunity to showcase the care and expertise behind every Happy Egg. Hen welfare and great taste are at the heart of what we do, and Tiny Farmers brings that story to life in an engaging way for families. Combined with our biggest-ever advertising campaign, we’re proud to champion British farming and inspire confidence in the quality of our eggs.” The episode launches on Channel 4’s YouTube on 19th January, with short-form highlights across Instagram, Facebook, TikTok, and YouTube. It will also be available to stream from February, supported by a Channel 4 advert driving audiences to the content. This partnership marks the first collaboration between Channel 4’s Partner Lab and The Happy Egg Co., facilitated by OMD UK, part of Omnicom Media Group. Stephen Parnell, Digital Commissioning Executive at Channel 4 said: “Harriet and Jessica’s infectious enthusiasm brings Tiny Farmers to life, connecting brilliantly with our young contestants as they compete to impress both hens and hosts. Working alongside Interstellar TV and The Happy Egg Co. has been a joy, and I can’t wait to share this hilarious - yet heartwarming - show with viewers.” The launch of Tiny Farmers complements The Happy Egg Co.’s ‘Happy Hens Lay Tasty Eggs’ campaign, which is live across Video on Demand and YouTube, with social and Out of Home following in February. Running for 26 weeks, this major investment will: Reach 83% of UK households Champion what makes us different: great taste and hen welfare Keep The Happy Egg Co. firmly top of mind as the UK’s No.1 egg brand The wider campaign will appear across ITVX, Channel 4 Streaming, Sky, Amazon Prime, Netflix, and YouTube - bringing The Happy Egg Co.’s message to millions of consumers nationwide.

Family firms sit uneasily between two magnets of modern capitalism. One pulls them towards profit, public markets and professional management; the other tugs them back to lineage, legacy and “the business as family estate”. That tension is where custodianship and stewardship live — the informal and formal practices by which families preserve the firm for future generations while trying to keep it commercially fit. The question for owners, advisers and markets is not whether families should behave like stewards — most do, in some form — but how culture, law and history shape what stewardship looks like in Buenos Aires, Mumbai, Riyadh or Helsinki. What We Mean By ‘Custodianship’ And ‘Stewardship’ At its simplest, custodianship is the mindset — and the set of routines — by which owners treat the firm as a thing to be kept, looked after and passed on rather than simply liquidated or cashed out. Stewardship describes a set of behaviours (long-term orientation, reluctance to extract short-term gains, emphasis on reputation and family mission) that tend to flow from that mindset. Both concepts are normative: they describe how a family thinks the firm ought to be treated, and they often underpin governance choices such as family councils, shareholder agreements, and formal boards. Research shows these attitudes can produce distinct advantages — resilience, a multi-generational horizon and loyalty — but also risks: entrenchment, nepotism and resistance to necessary change. The Broad Patterns Across regions a few patterns repeat themselves. First, many family firms combine informal, emotion-based governance with formal mechanisms — wills, shareholder pacts, family constitutions — to translate values into rules. Second, the stronger the family’s sense of socio-emotional wealth (the non-financial value attached to family control), the more likely it is that custodianship will dominate commercial logic. Third, professionalisation — hiring non-family executives, strengthening the board — is the most common remedy families use when custodianship risks suffocating growth. Fourth, the prevalence and form of those remedies vary with legal institutions, tax regimes and cultural norms. Fifth, multinationalisation and diaspora families complicate — and often accelerate the formalisation of — stewardship arrangements. These general claims are supported by cross-sectional surveys and the family-business literature. Asia: Collectivism, Clans And The Weight Of Continuity In many Asian contexts — particularly East and South Asia — stewardship often flows naturally from collectivist family norms and Confucian-influenced ideas about filial piety and duty. Scholars and practitioners note that trust, dense family networks and interlinked business holdings make informal stewardship effective: family members expect to subordinate personal ambition to the long-term survival of the family enterprise. That social capital lowers transaction costs and can support cross-generational continuity, but it can also entrench patriarchal succession patterns and resist meritocratic appointment. India and China provide contrasting emphases. In India, the archetypal family conglomerate historically combined strong founder authority with a preference for keeping control inside an extended kinship circle; more recently, public listing and regulatory pressures have nudged many groups towards clearer governance and external managers. In China, state relations, political connections and intra-family trust are powerful organising forces; the family often occupies a hybrid role between private owner and political actor, which colours how custodianship is practised. Both markets display a rising interest in formal family charters and succession planning as firms scale. The Gulf & Middle East: Patrimonial Control And Succession By Lineage In the Gulf and parts of the wider Middle East, large family groups often embody patrimonial ownership with a conspicuous emphasis on lineage and dynastic continuity. Control is concentrated and succession practices commonly favour male descendants, though those patterns are evolving under the influence of modern governance expectations and the need to attract foreign capital. Where stewardship is framed in dynastic terms, instruments such as family foundations, holding companies and trusts are widely used to preserve control while insulating businesses from personal liability and political risk. These structures can strengthen continuity but may also create opacity that worries minority investors. Europe: Institutionalisation, Shareholder Protections And The Professional Middle Way Europe presents a mixed picture. In parts of Northern Europe and the UK, longstanding traditions of family shareholding are balanced by well-developed corporate governance norms: independent boards, disclosure requirements and pressure from capital markets encourage families to professionalise while retaining strategic control. Southern and continental Europe, where family firms remain numerous, often show more complex ownership webs (holding structures, interlocking shareholdings) which both preserve control and create governance frictions. Across the continent, many families adopt formal constitutions, family councils and staged ownership rules to reconcile familial stewardship with institutional investor expectations. North America: Founder Stewardship And Market Discipline In the US, the archetype tends to be the founder or founder family that balances hands-on control with a willingness to use market mechanisms — public listings, outside directors, compensation tied to performance — to discipline management. Stewardship here often emphasises entrepreneurial legacy and brand stewardship rather than lineage per se. The market-oriented environment, strong investor protections and deep capital markets produce incentives for families to show professional governance if they want growth capital or wider legitimacy. Latin America & Africa: Patrimonial Legacies And The Push To Formalise In Latin America and many parts of Africa, family firms frequently arise from patrimonial and entrepreneurial roots, with a strong founder influence and family ties to regional economic and political elites. Governance practices can be informal and personalised; where institutions are weaker, owners rely on family networks and reputation for conflict resolution. Internationalisation and access to external capital are drivers for change — prompting investment in boards, transparency and succession rules — but the pace of transition varies widely by country and by firm. Culture Matters Culture shapes the lenses through which families view stewardship, but it does not determine outcomes alone. Legal frameworks (taxation, inheritance law), market depth (availability of external capital), the size and sector of the business, and family composition (number of heirs, diaspora links) are equally powerful. For example, two family firms in the same city may adopt radically different governance if one pursues rapid, capital-intensive growth and the other prioritises lifestyle and local control. Scholarship emphasises this heterogeneity and warns against easy regional stereotypes: family firms are not a single species but a genus with many subspecies. Practical Mechanisms Families Use Across regions, families deploy a familiar toolkit to translate custodianship into practice: family constitutions that set entry/exit rules; shareholder agreements that lock governance choices; family councils that separate emotional family matters from business decisions; professional boards that bring external oversight; staged ownership or buy-out mechanisms to manage dilution; and philanthropic vehicles to express the family mission without exposing the firm to reputational risk. These instruments are being updated to address modern pressures — digital transformation, ESG expectations and cross-border family dispersal. The Governance Balancing Act Stewardship is not invariably benign. The same features that preserve firms — long horizons, concentrated control and a reluctance to sell — can calcify poor strategy, protect underperforming relatives and deter external talent. Families face a classic governance trade-off: preserve control to protect the family legacy, or cede some control to attract the skills and capital that will secure the legacy. Recent practitioner literature stresses clearer succession planning, independent boards and pre-agreed exit rules as ways to avoid the “interpersonal chaos” that can undo multigenerational enterprises. Emerging Pressures Reshaping Custodianship A few modern developments are reconfiguring how stewardship is practised globally. First, the diaspora effect: when younger family members are educated and live across multiple jurisdictions they often demand clearer rules and professional management. Second, ESG and stakeholder pressures: external stakeholders now expect family firms to show transparent governance and social responsibility if they wish to access premium markets. Third, technology and generational attitudes: younger heirs often combine respect for legacy with a readiness to disrupt incumbent business lines. Advisory firms and family educators report increased demand for programmes that teach “stewardship behaviour” rather than mere wealth preservation. Custodianship and stewardship remain core to how family firms see themselves. The expression of those ideals differs around the world because of culture, law and market structure, but the fundamental problem is universal: how to honour a past without being trapped by it. Families that combine reverence for legacy with mechanisms that invite accountability — a family constitution that coexists with an independent board, succession rules that reward competence as well as blood — are best placed to transform custodianship from a sentimental posture into a source of competitive advantage.

Westlands Farm Shop on Winchester High Street was visited by a delegation of French farmers exploring the concept of bringing farming and agriculture to the city. The shop recently welcomed a group of French farmers and local government representatives exploring farm diversification opportunities to support small family farms in France. The visiting group came to the Winchester High Street store as an example of successful farm diversification, demonstrating how taking "the farm to the city" can create new revenue streams while connecting urban consumers directly with local producers. Westlands Farm Shop specialises in locally-sourced produce, with meat from the shop’s own livestock in Bishop's Waltham and products from Hampshire suppliers. The Winchester store, which celebrated its first anniversary on the High Street in 2025, represents an innovative approach to farm diversification that bridges the gap between rural producers and urban consumers. Graham Collett, farmer and Westlands Farm Shop owner, hosted the group and shared insights and experiences with the farm shop, supply chain relationships, and the challenges and opportunities of bringing farm-fresh produce to city centres. "It was a great experience with lots of knowledge shared in both directions. It was also lovely to hear how they do things in France," said Graham. "Farm diversification is crucial for the survival of small family farms, and it's encouraging to see international interest in different models of connecting farmers directly with consumers." The French farmers are conducting research across the UK to gather best practices and case studies that can inform support programmes for small family farms facing similar challenges in France, including rising costs, changing consumer habits, and the need for sustainable business models. Of particular interest was Westlands' range of frozen vegetables, fruits, and oven-ready items produced by Fieldfare. "In France, they sell a much higher proportion of fresh vegetables than we do as they are culturally different and most people would cook using whole foods and fresh ingredients," explained Graham. "Over here the convenience market is much more developed." The visit highlighted growing international interest in UK farm diversification strategies, particularly models that maintain the integrity of small-scale farming while creating viable urban retail presences. Westlands Farm Shop is celebrating its 25th anniversary in business this year and has a shop near Wickham, and opened its Winchester branch in 2024. The business model demonstrates how farms can extend their reach beyond traditional farm gate sales while maintaining quality and connection to local producers. The Winchester store features an in-house butchery with meat from Westlands' own herd, seasonal vegetables, artisan cheeses, locally roasted coffee, and products from dozens of Hampshire and surrounding county suppliers.

Recent announcements around Business Property Relief (BPR) and Agricultural Property Relief (APR) have provided some welcome clarity for family business owners. While the proposed increases to relief limits are not yet guaranteed, they reinforce an important point: inheritance tax planning for family businesses remains highly sensitive to political change, and early preparation matters. Hymans Robertson Personal Wealth share that rather than waiting for legislation to be finalised, there are several practical steps business owners can begin considering now: 1: Start With Eligibility. Relief is only available to businesses that meet specific conditions, particularly around trading status. Many family companies accumulate investment assets over time – surplus cash, property, or portfolios – which can quietly erode eligibility. Reviewing whether your business still clearly qualifies is a sensible first step. 2: Revisit Ownership Structures. How shares are held can materially affect how much relief is available. With transferable relief between spouses now in play, ownership arrangements that once felt “good enough” may no longer be optimal. This is often an area where small changes can have disproportionate impact. 3: Pressure-Test Your Succession Plan. A plan that works on paper doesn’t always work in practice. Consider whether control, decision-making, and value can realistically transfer to the next generation without disruption. Reliefs support continuity – but only if there is a clear route for succession. 4: Look Beyond The Business. Even with potentially improved BPR and APR limits, many owners will still face significant inheritance tax exposure on non-business assets. With pensions due to fall within IHT from April 2027 and inheritance tax allowances frozen until 2031, understanding the full estate picture is increasingly important. 5: Avoid Leaving Decisions Too Late. Many reliefs depend on holding periods and business activity tests that cannot be accelerated at short notice. Planning early preserves flexibility and avoids reactive, sub-optimal decisions if rules tighten again. For family business owners, the message is clear: while the tax landscape may continue to shift, proactive planning remains the most reliable way to protect both your business and your family’s future. About the Author: Joe Jewell is a Wealth Manager at Hymans Robertson Personal Wealth.

Family Business United is delighted to announce that voting is now open for the prestigious People's Choice Family Business of the Year Award. Voting is open until April 30 to vote for your favourite family firms from those shortlisted to take home a regional title and be in the running for the National People's Choice Award 2026. Family firms have been shortlisted for the awards by region so simply click on the link for a region below and vote for your favourite. One vote per person per device (any duplicates will not be counted and will be removed during the validation process) and the winners will be announced at the National Family Business Awards Gala Evening taking place in London on June 17. As Paul Andrews, Founder and CEO of Family Business United, organisers of these awards, adds: "The People's Choice awards are always hotly contested and over the years thousands of votes have been cast to determine the regional winners." "These are the only awards on the night that are determined by the public vote and there is something truly special about being recognised by people that have actually taken the time to vote for the family firms that they care about - as employees, customers, suppliers and stakeholders." "We have crowned some incredible winners in the past and this year the competition is strong so we look forward to seeing who gets the popular vote and takes home the titles in June." As well as the regional awards the votes are tallied and an overall National People's Choice Winner is crowned on the night. Vote for your favourites using the regional links below: East & East Anglia - vote here London & South East - vote here Midlands & Central - vote here North of England - vote here Scotland - vote here South of England - vote here South West & Wales - vote here Yorkshire - vote here

Family Business United is delighted to announce that voting is now open for the prestigious Yorkshire People's Choice Family Business of the Year Award. Voting is open until April 30 to vote for your favourite family firms from those shortlisted to take home a regional title and be in the running for the National People's Choice Award 2026. Family firms have been shortlisted for the awards by region so simply vote for your favourite in this region. One vote per person per device (any duplicates will not be counted and will be removed during the validation process) and the winners will be announced at the National Family Business Awards  Gala Evening taking place in London on June 17. Vote here: