A true legacy encompasses more than just material wealth; it includes the values, wisdom and love that we pass on to our descendants. "In...

Family businesses are often seen as the epitome of unity, shared values, and long-term success. However, beneath the surface lies a complex web of relationships and emotions that can be challenging to manage. When sensitive topics—often considered taboo—are ignored, they can become significant barriers to growth, innovation, and the long-term success of the business. I will explore some key steps to addressing these uncomfortable topics in your family business. The Importanc

Family businesses are often seen as a unique blend of personal relationships and professional endeavours. The dynamics within these organizations can be complex, especially when it comes to decision-making. Who really has the power to influence and shape decisions in a family business? The Family Dynamics At Play In a family business, the lines between personal and professional lives are often blurred. Family members involved in the business may have longstanding relationship

In some senses, the legacy of any business is a slightly nebulous concept, but the thing which tends to set family businesses apart from other businesses is the degree to which people are personally as well as financially and professionally invested in them. This means that the way the business is set-up, managed and run on a day to day basis is much more likely to provide a reflection of the values of the family members who own that business, and it is the continuation and u

In any business, let alone a family or founder-owned business, the role of a CEO is both multifaceted and demanding. As the driving force behind strategic decisions and organisational growth, CEOs shoulder immense responsibility. However, what happens when the owner's involvement becomes a hindrance rather than a support system? This article considers the detrimental impact of owner interference on non-family CEOs and the repercussions it can have on organisational success. A

For some individuals, working in a family business can be an incredible gift. For others, the family business is a prison, without any chance of parole. For those who are feeling trapped in the family business, ownership of the business is more burden than pleasure. The freedom that their family business allows is overshadowed by a lack of business process and clear structure. Having their name on the door is not worth being “on call” 24/7, or never being able to really take

Family business succession planning is a complex and challenging process that involves transferring leadership and ownership from one...

In the dynamic landscape of family businesses, a unique form of wealth often goes unnoticed - spiritual capital. Beyond financial assets...

Today, possibly more so than ever before, sustaining the legacy of family businesses requires innovative approaches to involve the next...

In recent years, there has been a significant societal shift in the traditional family structure, giving rise to the increasing prevalence of blended families. Blended families, also known as stepfamilies, are formed when partners with children from previous relationships come together to create a new household. This evolving family dynamic reflects the changing landscape of modern relationships, challenging conventional notions of what constitutes a "typical" family. One dri

In many ways, family businesses sit at the heart of commerce in our country. From small scale business-to-consumer outfits to larger business-to-business models, family businesses deliver vital products and services that make the UK one of the richest and most diverse markets in the world. By their very nature, family businesses are often personable, customer focussed, and values-driven. A business that’s kept within a family over generations becomes known in their local comm

Family firms are different, a real force for good and that can only be a good thing. The obvious thing that makes family businesses stand...

People wish they had asked relatives more about their life when they were alive – after discovering an interesting story once they had...

Tohtonku Sdn Bhd is a major player in the personal care products sector in Malaysia, and stands out from many other family firms in the region by having made it successfully to its third generation. It was set up in the ‘60s by Lim Joi Him, and in the half century since then has grown its portfolio to over 200 products, some of them market leaders. It’s also a significant regional player, selling all over Southeast Asia including Japan, Hong Kong, Singapore, Thailand, Indones