Aldi has recorded its best-ever Christmas, with sales of £1.65 billion (+3% vs. 2024) in the four weeks to Christmas Eve, as millions of shoppers turned to the UK’s lowest-priced supermarket to make their money go further during the festive season. The supermarket said that price had been the biggest priority for shoppers in 2025, with customers seeking ways to celebrate on a budget without compromising on quality. Ahead of the big day, Aldi committed to beating rivals on the price of a traditional Christmas dinner – part of a £325m investment to lower hundreds of prices throughout the year. The UK’s fourth-largest supermarket saw total sales increase by over 5% in the week leading up to Christmas, as customers spent around £500m with the discounter. Aldi said 22nd December marked its busiest trading day – as millions of customers flocked to stock up on seasonal items ahead of the big day. Aldi colleagues handled over 57m transactions over the four-week period to Christmas Eve, its highest ever number. Demand for its Specially Selected premium own-label range also increased by over 12%, showing that customers were still keen to treat themselves but in a way that offered better value for money. Popular products included award-winning festive lines such as Aldi’s Specially Selected The Ultimate Wagyu Fat Roast Potatoes, Specially Selected Double Wrapped Pigs in Blankets, as well as Specially Selected White Chocolate Ganache Pinecones. Shoppers also celebrated with a glass of fizz, with Aldi selling over 5.5m bottles, or 33m glasses, of sparkling wine over the festive period. Aldi also saw strong demand for home-grown produce, with sales of British-sourced meat and vegetables up as customers supported British during their Christmas shop at Aldi. As a result, shoppers bought 56 million potatoes, 37 million carrots, and half a million turkeys – all sourced from Aldi’s long-standing British supplier partners. Giles Hurley, CEO of Aldi UK and Ireland, said: “This Christmas proved once again that a great quality Christmas can still be affordable. We delivered a Christmas without compromise, offering customers award-winning British products at unbeatable prices." "We’re grateful that more people than ever chose Aldi for their Christmas shop and trusted us to deliver both quality and value during what remains a challenging time for many. I’m immensely proud of our amazing colleagues who, once again, went above and beyond to deliver a wonderful Christmas for our customers." “As we move into 2026, our focus remains unchanged – keeping prices low and quality high, so that every household in Britain can enjoy amazing food all year round.” Aldi has been named the UK’s Cheapest Supermarket by consumer champion Which? for the past four years and also retained its Christmas Retailer of the Year crown at the Quality Food Awards 2025 for the sixth consecutive year. Meanwhile, Aldi also continued its partnership with Neighbourly to support those in need during the festive season, donating an estimated one million meals to local charities, food banks and community groups across the UK.

Family-owned businesses are in the news this week. With Russell & Bromley, the fifth-generation family-owned premium footwear retailer, reaching a pivotal crossroads. According to reports, disagreement among its family shareholders over the company’s future has intensified in recent weeks, with some advocating for a sale to Next in partnership with Retail Realisation and others favouring a private equity pathway through Auralis. A report by Fashion Network (citing The Times) reveals that certain Bromley family members are leaning towards a sale to Next alongside Retail Realisation – a specialist in stock clearance. Under this plan, Next would reportedly acquire the Russell & Bromley brand and intellectual property, while Retail Realisation would handle the closure and liquidation of the brand’s 37 physical stores and excess stock. Others within the family are advocating for a deal with Auralis, a private equity-backed consortium led by Total Capital Partners and headed by Weird Fish CEO David Butler. This option promises to safeguard most of the retailer’s 450 jobs, its full store estate, and its distribution centre – potentially ensuring operational continuity and brand heritage. The family-owned company was founded in 1880 and is currently run by fifth-generation family member Andrew Bromley. The Telegraph reported that last year, the company embarked on a five-year turnaround plan dubbed ‘Re Boot’ after posting an operating loss of £9m the previous year. In a statement in October, Mr Bromley said: “We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ‘Re Boot’ vision.” Next is reportedly working with Retail Realisation, signalling that its interest lies primarily in Russell & Bromley’s brand and online presence, not in maintaining its retail footprint. Under this model, Next would absorb the brand, while Retail Realisation would manage a structured store closure and asset disposal. On the other side, the Auralis-led private equity interest proposes a far different route – keeping the substantial UK store network intact, along with key staff and infrastructure. Next’s plan could result in the loss of all 37 stores and threaten up to 450 roles, though brand continuity would persist via Next’s platforms. The private equity approach would safeguard these jobs and sites, maintaining community presence. The family owners will have to decide between immediate liquidity and a clean transition to UK’s leading retail group Next or preserving family legacy through continued ownership or stewardship under a like-minded investment firm. Birketts LLP understands the issues facing family-owned businesses. Our corporate, insolvency and dispute resolution teams are experienced in ensuring if such issues arise, there are measures in place to ensure they are resolved with minimal risk, cost and disruption to the business. We regularly advise on shareholders’ agreements, and potential exit structures. About the Author - Hayley Songhurst is a Senior Associate in the Dispute Resolution at Birketts LLP. Find out more about the work they do with family businesses on their website here

UK businesses are being urged to strengthen their cyber resilience as new figures reveal the growing scale of digital threats. More than 40% of UK businesses reported experiencing a cyber-attack or security breach in the past 12 months, highlighting the increasing risks facing organisations of all sizes. The warning comes amid a series of high-profile cyber incidents affecting major brands including Jaguar Land Rover, Marks & Spencer, Co-op and Harrods, with attacks causing widespread disruption to operations and services. Experts say these incidents underline the importance of cyber awareness, preparedness and robust response planning to protect business continuity. To address these challenges, a webinar titled “Cyber resilience for businesses: risks, protection, & insurance benefits” will take place on 4 February at 10am. The webinar is being hosted by award-winning independent chartered insurance brokerage, family business and Family Business United members Alan Boswell Group, in partnership with CFC Underwriting. CFC is a specialist cyber insurer with more than 25 years’ experience and over 100,000 cyber insurance policyholders worldwide. The webinar will examine the most prevalent cyber threats expected in 2026, the risks they pose to businesses, and the role cyber insurance can play in supporting both proactive prevention and rapid technical response following an attack. Commenting on the issue, Paul Andrews, Founder and CEO of Family Business United, said: “Cyber security is no longer just an IT issue – it is a fundamental business risk, particularly for family firms where reputation, legacy and long-term sustainability are paramount." "Family businesses must continue to address cyber security risks proactively, ensuring they have the right awareness, protections and plans in place to safeguard both the business and the family behind it.” Find out more and book your complimentary place to attend the webinar here

Dan Drogman and Tom Drogman, co-founders of Smart Spaces, have been made Freemen of the City of London, in recognition of their contribution to the City, innovation in the built environment, and international business leadership. The two brothers attended their ceremony at Guildhall. The Freedom of the City of London is one of the oldest surviving traditional ceremonies in the UK, dating back to the 13th century, and is often given by the City of London Corporation to individuals who have made a significant contribution to London’s civic, commercial, or cultural life. Founded in 2010 in the City of London, Smart Spaces was born from the Drogman brothers’ shared vision to transform how people experience and manage workplaces. The company’s smart building software now powers over two million square feet of office space in the City of London, including 22 Bishopsgate, the tallest building in the City, and is deployed in more than 30 countries worldwide, supporting landlords, occupiers, and employees with more connected, efficient, and human-centric buildings. Born and raised in East London, Dan and Tom Drogman have long credited the City’s entrepreneurial spirit, diversity, and global outlook as foundational influences on their journey. From early beginnings building technology solutions locally, Smart Spaces has grown into an internationally recognised platform at the forefront of workplace and smart building innovation. “Being made Freemen of the City of London is a huge honour for us both,” said Dan Drogman, Co-Founder of Smart Spaces. “We started Smart Spaces here, we grew up just beyond the City’s boundaries in East London, and the City has played a defining role in our lives and our business.” “This recognition means a great deal to us personally,” added Tom Drogman, Co-Founder of Smart Spaces. “London is where our story began, and we’re incredibly proud to contribute technology that supports the City’s buildings, businesses, and global reputation for innovation.” James Tumbridge, of the City of London Corporation, stated: “Small and medium-sized enterprises are, essentially, the life blood of London. Having worked on the City of London Corporation’s SME strategy and seen at firsthand how Smart Spaces has evolved into a world-leading provider of smart building technology, I am delighted to support Dan and Tom Drogman’s nominations, which recognise their ingenuity, commitment, and hard work.” Recent notable recipients include two-time Academy Award-winning actor and humanitarian, Cate Blanchett; leading trauma surgeon, Professor David Nott; one of the last surviving ‘Chindit’ soldiers from the Second World War’s Burma campaign, Sidney Machin; and former Shadow Home Secretary and Attorney General of England and Wales, Dominic Grieve. As Smart Spaces continues to expand globally, the Drogman brothers remain committed to London as the company’s spiritual and operational home, championing British innovation on the world stage.

Rudell The Jewellers is proud to announce an exciting new chapter in the brand’s story with the official unveiling of Rudells as a title sponsor of British racing talent Raef. This special partnership brings together two names united by shared values of precision, passion, and ambition, marking a meaningful collaboration. For Rudells, a family-run jeweller with Black Country roots dating back to 1938, supporting emerging talent has always been a natural extension of the brand’s ethos. Much like the meticulous artistry found in fine watchmaking and jewellery design, motorsport demands discipline, attention to detail, and a commitment to excellence. These qualities are embodied in Raef Virdee, whose remarkable journey in competitive karting has already captured national attention. From a very young age, Raef has demonstrated extraordinary natural ability behind the wheel, earning recognition as one of Britain’s youngest racing drivers with aspirations firmly set on the pinnacle of the sport. His talent, confidence, and fearless approach on track reflect a maturity far beyond his years, while his enthusiasm and humility continue to inspire those who follow his progress. As a Birmingham-born racer, Raef’s story resonates strongly with Rudells’ own regional heritage, making the partnership all the more fitting. Throughout the upcoming season, Rudells will proudly support Raef as he continues to develop his racing career, providing encouragement on and off the circuit. This partnership symbolises Rudells’ commitment to nurturing ambition and investing in the future, championing individuals who reflect the same standards of excellence that have defined the jeweller for generations. Speaking on the announcement, Jon Weston, Managing Director of Rudell The Jewellers, shared his enthusiasm for the partnership: “We are incredibly proud to support Raef at such an exciting stage in his journey. As a jeweller with deep roots in the local community, we are always drawn to stories of ambition and passion. Raef embodies both of these qualities, and this partnership allows us to celebrate talent at its earliest stages while looking confidently toward the future.” As Raef’s racing career builds pace, this sponsorship signals the start of a partnership defined by ambition, inspiration, and shared achievement. United by a commitment to excellence and performance, Rudell The Jewellers and Raef demonstrate that passion and perseverance are values that resonate far beyond any single discipline. Always looking ahead, Rudell The Jewellers remains committed to supporting excellence in all its forms.

GAP Hire Solutions is delighted to announce the opening of its brand-new Milton Keynes Depot, reinforcing the company’s commitment to delivering high-quality hire solutions and outstanding customer service across the region. Located at 2 Postley Road, Kempston, Bedford, MK42 7BU, the depot consolidates GAP’s Milton Keynes Plant & Tools and Cambridge Survey depots, into one modern, strategically positioned site. Customers can expect the same trusted service and friendly team, now with improved accessibility and efficiency. By bringing Plant, Tools and Survey divisions together under one roof, the Bedford depot offers a wider range of equipment and specialist expertise from a single location. This integrated approach ensures customers benefit from faster response times and comprehensive support for projects of all sizes. Richard Dey, Managing Director – South, commented, “This fantastic new location not only gives our team a great working environment but also acts as a wonderful platform to take the business to the next level whilst supporting our customers in delivering their projects.” GAP Hire Solutions looks forward to welcoming customers to the new Milton Keynes depot and continuing to build strong partnerships through reliable hire solutions backed by an experienced and dedicated team. For more information contact Milton Keynes Plant & Tools on 01908 646 691 or email miltonkeynes@gap-group.co.uk or contact Milton Keynes Survey on 01767 690 038 or email milton.keynessurvey@gap-group.co.uk

One of Scotland’s leading hotel groups, the Crieff Hydro Family of Hotels, has announced a landmark partnership with a trailblazing sleep and relaxation app, further strengthening its wellness offering across its portfolio. Founded by Scots Karen and Graeme Kerr, the partnership will see the introduction of the Tethered sleep and relaxation app in each of the Family’s hotels in Perthshire, the West Highlands, and Scottish borders. Inspired by Scotland’s landscapes, the app blends long form sleep stories, folklore, calming soundscapes and relaxing music into a soothing audio experience rooted in Scottish culture and connection. The move builds on the hotel group’s wellness heritage, which dates back to 1868, when Dr Thomas Meikle founded Crieff Hydro as the Strathearn Hydropathic Establishment - created to help guests cleanse, rest and rejuvenate. Guests staying at each hotel within the Crieff portfolio will be granted access to a ‘dreamscape’ bespoke to each property, carefully curated to promote deeper rest and relaxation, with the sounds of the surrounding nature, wildlife and distinctive atmosphere of each location. Production on the bespoke dreamscapes are now underway and are expected to be launched in early 2026. Charlie Leckie, Associate Director of Crieff Hydro Family of Hotels, said: “This partnership reflects our long-standing commitment to wellbeing in its broadest sense. Crieff Hydro began life in 1868 as a hydropathic and this is a modern way of bringing that same spirit to guests across our hotels." “Rest, sleep and reconnection are incredibly important to our guests, and Tethered offers something genuinely distinctive in this space. By working with a Scottish-founded brand that draws so deeply on our landscapes and stories, we are able to create experiences that feel authentic and aligned with who we are as a business." “Our hotels are set in some of the most remarkable locations in the country and this collaboration allows guests to not only carry that sense of place with them into the quiet moments of their stay, but when they return home, too.” Karen Kerr, co-founder of Tethered, added: “We created Tethered to help people slow down, switch off and reconnect, and there is no better setting for that than the places where the Crieff Hydro Family’s hotels are located." “Each dreamscape is being crafted to reflect the character, history and natural environment of each of the hotels, creating an experience that is both deeply calming and unmistakably Scottish." “We’re proud to be collaborating with a family business that shares our values and our belief in the restorative power of Scotland’s landscapes with a global audience.” As well as bespoke dreamscapes for each hotel, guests will also have unlimited access to a specially curated playlist designed to transport each listener back to the surrounding area of each venue. Karen added: “Even after guests return home, each track will allow them to revisit the feeling of being there. It's about extending the experience beyond the stay itself, giving guests a way to reconnect with the sense of peace and place, even when they’ve returned to the pace of everyday life.” Guests staying at Crieff Hydro Hotel and the Murraypark Hotel in Perthshire, the Isles of Glencoe Hotel, Kingshouse Hotel and the Ballachulish Hotel in the West Highlands and Peebles Hydro Hotel and The Park Hotel in the Scottish Borders will enjoy unlimited access to the dreamscape of the property they have visited and the playlist, as well as one-month free access to the Tethered app. To learn more and explore the range of hotels within the Crieff Hydro Family of Hotels, and to book, visit here .

A family charter or constitution, documents the shared vision and values of the family and its policies regarding the ownership and operation of the family business. It acts as a tool for establishing and maintaining the balance between the best interests of the business and the well-being of the family. Although it is not a legally binding document, it contains several statements of intent which reflect the consensus view of the family shareholders and it should be viewed in the context of the overall framework of governance for the business, supporting the business plan and the shareholders or partnership agreement. How Does A Charter Help The family charter covers key areas that families have to address when they work together helping to establish a framework for addressing the different roles that family members have within the business. However, the content of the family charter is key and it is not simply about having one, but more importantly, having been through the process of considering the different areas and determining a united approach to the issue for the family going forward. It is about what it can do for the family business, ironing out some of the grey areas, and providing a framework for the family going forward, as well as helping those not involved in the day-to-day running of the business keep in touch and make sure that their views are heard. It is essentially all about the family planning today for tomorrow’s predictable problems and the best time to consider writing a family charter is when the family is harmonious and time can be given to thinking about the future without too much emotion and anxiety. They also help to add openness to proceedings and avoid some of the issues that can manifest themselves in the family business – deferring discussions on matters that are potentially difficult, avoiding discussions on certain topics that are ‘taboo’ and avoiding topics that are just not talked about, inheritance, death, passing on the business to the next generation. It is not set in stone and needs to be regarded as a ‘living’ framework, updated as appropriate but staying with the family for many years to come. Things To Think About… There are a number of key questions that the family need to be able to review and discuss in order for the journey to be valuable, including: Have the protocols of the family ever been debated and written down? Would the family benefit from having some clear guidelines outlining the basis upon which the business will be run and owned? What impact will there be on the family when the next generation start to join the business? What governance mechanisms would be beneficial? Who should be involved with creating the new family protocols? Would an external facilitator help with the discussions? What goes into a family charter? All families and businesses are different and as such, there is no single solution as to what goes into the family charter, but the process that the family go through to create a charter encompasses understanding the different perspectives from different family members, developing unity and shared family goals and defining the culture and code of conduct for the family too. In essence, the family charter defines goals, articulates the values of the family and the business, establishes channels of communication to allow effective communication to take place between family members, identifies methods for decision making, and sets a framework for making decisions too. Some of the things that are encompassed in the family charter include: Defining the family vision, mission and values Setting out the family code of conduct in terms of their rights and obligations as owners and employees Defining the rules regarding family employment, remuneration, performance and appraisal Setting out guidelines for leadership and management succession Identifying the procedures for the appointment and role of the Chairman and any family Directors Clarifying the roles, responsibilities and powers of the Board of Directors Making clear the methods of educating the family and the next generation Clarifying areas that could lead to uncertainty in the future such as the rights and position of in-laws Documenting what to do in the event of a family disagreement. Setting out the family guidelines for charity and philanthropic activities Paving The Way For Future Success Family charters play an important role in the successful governance of the best and well-known family businesses around the world and although not always formally documented, the families that have discussed the issues and formulated an approach to deal with them should they arise are better placed to successfully navigate their way through them. In many instances, the experience and time spent as a family debating and drafting a family charter is more valuable than the actual document produced at the end of the process, and it is then established as part of the framework to help future generations to deal with the issues at hand. They clearly lay down the ground rules for the family and help to put in place plans to alleviate the adverse impact of issues on the family and the business, helping to ensure that success of the family business for future generations.

Thousands of Aldi colleagues are set to receive market-leading rates of pay as part of a £36 million investment in pay and benefits by the UK’s fourth-largest supermarket. From Sunday 1st March 2026, starting pay for Store Assistants will rise to £13.35 per hour nationally, and £14.71 per hour within the M25, rising to £14.30 per hour and £15.03 within the M25 based on length of service. Aldi is also increasing pay rates for Store Apprentices to £12.02 per hour outside the M25, and to £13.22 per hour inside the M25. These rates are significantly higher than the minimum wage for a first-year apprentice. Giles Hurley, Chief Executive Officer of Aldi UK and Ireland, said: “Our colleagues are at the heart of everything we do. Their hard work and dedication is what allows us to offer customers the quality, value and service they expect from Aldi. That’s why we’re making such a significant investment in our promise to never be beaten on pay for our colleagues.” All Aldi colleagues will see their pay rise over the coming months, as well as receiving enhanced family-friendly benefits, with maternity pay extended to 26 weeks at full pay. Aldi also remains the only supermarket to offer paid breaks to all its store colleagues – a benefit worth up to £1,470 a year to store colleagues. Those interested in a career with Aldi can visit here for more information.

Lidl GB has announced it’s set to open 19 stores in just 8 weeks as part of its continued expansion across the country. The discounter is also investing over £40million in modernising more than 70 existing stores, bringing more value, choice, and jobs to communities nationwide. Equating to one store opening every other day, Lidl will be creating up to 640 new roles nationwide. The store openings will expand the discounter’s presence into new parts of Great Britain, including locations in Calne, Wiltshire, to Brough, Yorkshire. On each opening day, shoppers can look forward to complimentary food sampling as well as some special Lidl prizes up for grabs. These openings mark a continued period of rapid growth, as the retailer strengthens its position as the UK’s fastest-growing bricks and mortar retailer1. Lidl reaches over 60% of British households and contributed £14.5bn in Gross Value Added (GVA)2 to the British economy in FY24. In addition, Lidl has announced plans to refurbish over 70 existing stores from Dundee to the Isle of Wight, ensuring customers benefit from the same high standards wherever they shop. The £43million investment will enhance these much-loved stores for the communities they serve with changes including new tills and larger freezers to offer a greater range of products. The discounter is also introducing energy-saving features as part of the modernisation like chillers that use natural refrigerants and smart lighting systems that reduce electricity use. These improvements will help lower the environmental impact and support Lidl GB’s journey toward Net Zero. Richard Taylor, Chief Real Estate Officer at Lidl GB, said: “We’re starting the new year as we mean to go on, with a major investment that reinforces our commitment to delivering the best experience for customers and creating a positive impact for the communities we serve. With this push, we’re set on winning more shoppers across the nation and claiming an even bigger share of the market.” These investments build on what Lidl describes as ‘the Lidl Effect’, where the benefits of its growth extend beyond the shop floor and into the communities it serves. New stores will also benefit from the retailer’s community investments from day one. Through its surplus food donation scheme, Feed it Back - delivered with charity partner, Neighbourly – Lidl provided 18.5 million meals last year, supporting 6.8 million people across Great Britain. 1 Worldpanel by Numerator, 52 w/e 28 December 2025 2 The Lidl Effect: Lidl GB Socioeconomic Impact Report Store openings Basildon, Laindon Birmingham, Kingstanding Brough, Welton Road Burntwood Calne Chester, Caldy Valley Rd Dereham Havant, Purbrook Way Hereford, Belmont Road Horley Hucknall, Watnall Rd London, Stamford Hill London, Walworth Road Reading, Tilehurst Royal Wootton Bassett Salisbury, Churchill Way West Sandford Sutton High Street Tring

Strong family governance has long been a cornerstone of successful family firms. Across generations, well-governed families have shown a greater ability to grow, adapt and endure, balancing the needs of the business with the dynamics of family life. Yet implementing family governance can feel daunting, and it is easy to lose direction without a clear framework in mind. At its best, family governance provides a structured way for families to work together as a cohesive team within a business environment. It establishes clear processes, defines roles and responsibilities, and helps minimise the risk of conflict by addressing potential issues before they arise. As both families and businesses grow in size and complexity, the development of effective governance structures becomes increasingly critical to managing family wealth, protecting the family legacy and supporting future generations. Our experience consistently shows that families who invest time in building robust governance frameworks are better placed to preserve their wealth and pass on shared values from one generation to the next. The benefits are tangible: improved communication, reduced conflict, better preparation of future leaders, a clearer sense of purpose and a shared vision for the future. Below are three essential ingredients that underpin effective family governance. 1. Giving Every Family Member a Voice At its core, family governance is about joint decision-making. In reality, families practise governance informally every day, through conversations, agreements and shared understandings. Formal governance simply provides a structure for these discussions, creating a safe and constructive forum in which family members can express their views, concerns and aspirations for the future. One of the earliest and most important questions to address is who qualifies as “family” within the governance framework. We often encourage families to take an inclusive approach, involving extended family members and, where appropriate, even teenagers. Experience shows that family members who are not actively involved in the business can still offer valuable perspectives, particularly around family values, reputation and the wider impact of the business on the family as a whole. By ensuring that everyone has a voice, families can foster a sense of belonging and shared ownership, reducing the risk of disengagement or resentment over time. 2. Defining the Family Mission and Values A clear sense of purpose is fundamental to long-term success. One of the most important early steps in establishing family governance is the creation of a family mission statement. This process helps families articulate why they exist as a family enterprise, what they stand for, and what they hope to achieve together. Developing a mission statement provides a powerful opportunity for each family member to share their vision and expectations. The discussions themselves are often as valuable as the final document, encouraging open dialogue and deeper understanding between generations. The end result should be a mission that reflects the family’s shared values and ambitions, and which acts as a guiding compass when difficult decisions arise or the path forward becomes unclear. When aligned with the family’s core beliefs, a mission statement can bring clarity, consistency and confidence to decision-making across both family and business matters. 3. Implementing the Right Governance Structures Families are inherently complex, and no single governance model suits all. Over time, a range of governance structures has evolved, from simple family meetings or committees to more formal arrangements such as Family Councils, Executive Committees, Family Boards and Family Assemblies. Part of the role of trusted advisers is to help families understand the options available and identify which structures will best support their objectives. Often, the level of formality required depends on the size of the family and the complexity of the business. Larger families, for example, may use a Family Council to address broad issues such as succession planning, education or philanthropy, while reserving sensitive commercial decisions for a smaller Executive Committee or Family Board. A crucial principle in designing governance structures is the separation of family matters from business matters. The “business of the family” includes nurturing shared values, planning family meetings, supporting philanthropy and developing the family’s intellectual and patient capital. The “family business”, by contrast, focuses on managing financial capital, commercial performance and long-term business sustainability. Clear boundaries between the two help reduce tension and improve decision-making. Making Governance Work Over Time Even the best-designed governance framework will only succeed if family members engage with it. Encouraging participation, maintaining open communication and fostering trust are essential. Equally important is ensuring that governance structures remain flexible, evolving as the family grows, circumstances change and new generations step forward. As families embark on the next stage of their journey, now is the time to reflect on these essential ingredients. By putting in place a thoughtful, inclusive and adaptable family governance strategy, families can lay strong foundations for continuity, harmony and success for generations to come.

Bagnalls’ Management Trainees have successfully completed an inspiring outward-bound development programme at Brathay Trust in Ambleside, located in the heart of the Lake District. Founded in 1946, Brathay Trust has a long-standing reputation for empowering young people through transformative outdoor learning, personal development and community support. The organisation is working towards an ambitious goal of inspiring more than 40,000 young people to transform their lives by 2029. Recognising the value of experiential learning, Bagnalls enrolled its Management Trainees in the multi-day programme to strengthen leadership, communication and teamwork skills. The experience was supported by Bagnalls’ HR Learning and Development Advisor, Kirsty Stokes, who accompanied the trainees throughout the programme. During their time at Brathay, the trainees took part in a range of challenging activities designed to push them beyond their comfort zones and encourage reflection and growth, both individually and as a team. Activities included high and low ropes courses, waterfall scrambling and a night-time scavenger hunt aboard a whaler boat, all aimed at building trust, resilience and effective collaboration under pressure. Kirsty Stokes said:  “Even in my supportive role on the trip, I found myself doing things I wouldn’t have had the confidence to attempt a few years ago." "It was a powerful reminder that leadership isn’t about having all the answers, but about being willing to learn, adapt and challenge yourself alongside your team.” Bagnalls extends its sincere thanks to Cath Hempsall and the team at Brathay Trust for delivering a memorable and impactful development experience. The programme has left a lasting impression on the trainees and will continue to support their growth as future leaders within the business.