The core components of family governance that underpin the success of family businesses

Family businesses, often regarded as the bedrock of the global economy, embody a unique blend of loyalty, legacy and long-term vision....

Family businesses are the backbone of the British economy, representing a significant share of private enterprises across the UK. Whether...

Family businesses are often described as complex—and for good reason. Unlike other commercial entities, family firms operate not just at...

In the hustle of day-to-day operations — dealing with suppliers, chasing invoices, managing staff, and keeping customers happy — it's...

Family businesses form the bedrock of the global economy. From traditional high-street shops to cutting-edge tech start-ups, the...

For family businesses, the question of “what’s next?” can be as complex as it is personal. Many families are currently weighing whether to transition the business to the next generation or consider a partial or complete sale. With recent changes to Business Property Relief (BPR) and Agricultural Property Relief (APR), there’s a renewed need for thoughtful planning. Enter “patient capital,” a form of investment that offers family businesses the time, flexibility, and stability

Running a multigenerational family business is not merely about ensuring financial success across decades; it is about preserving a...

In family-run businesses, keeping control over operations, wealth, and legacy across generations can be challenging. A Family Protector can be a crucial figure in safeguarding family interests, managing wealth, and ensuring smooth leadership transitions. What Is A Family Protector? A Family Protector is a trusted individual appointed to oversee and protect a family's wealth, business interests, and legacy as it passes from one generation to the next. This role can vary depend

Only 40% of family-owned businesses reach the second generation, 13% get to the third, and just 3% are passed down to a fourth generation...

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

Family businesses are renowned for their legacy and continuity, often spanning multiple generations. As the torch passes from one generation to the next, the role of non-family CEOs and Non-Executive Directors (NEDs) becomes increasingly vital in preparing the rising generation for leadership roles within the family firm. These seasoned professionals offer mentorship, guidance, and a fresh perspective that can help bridge the transition gap and pave the way for a successful s

Family business chairman plays a pivotal role in steering the course of the company, balancing familial ties with corporate responsibilities. Firstly, they must embody strong leadership, guiding the business through strategic decision-making and fostering a cohesive vision. Additionally, effective communication is paramount, as the chairman must bridge the gap between family dynamics and professional obligations, ensuring transparency and understanding. Financial stewardship

Family charters are becoming increasingly popular. But what are they, and what can they do to enhance your business? There is an amount...

A family constitution is a confidential family document outlining their vision and agreement on ownership and management of the business....

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 businesses are vital to the UK economy and contribute hundreds of billions to the UK’s GDP. They have unique advantages including shared values, enduring trust, and a central commitment to the long term future of the business. However, like any other business they must also consider the challenges that confront them, and for a family run business, clear and sustainable governance can sometimes be a key challenge. There are of course two types of governance relevant to

A good Board Chair understands they are a facilitator to achieve the best outcomes rather than a ‘commander.’ They listen more than they...

Sometimes, the informality of working in some family business can be a great blessing… or a dreadful curse. Here, Rochelle Clarke of Succession Strength looks at some of the ways that can enhance and maintain good family business relationships. For some successors and other family members, the relaxed atmosphere of working with family provides welcome space to be themselves. For others, it frustratingly turns work/life balance into a hopeless illusion. Sooner or later, most

The world remains a volatile place in 2023, as businesses emerge from the COVID era, contend with the impact of geopolitical uncertainty, grapple with the challenges of supply chain disruption and high inflation. At this challenging time for boards the focus is on the pivotal role of the leader of the board – the chair or chairman – to help navigate the board through these uncertain times to business success. However, the speed of external change requires an evolution in the