The Bank of America Family Office Study: Perspectives on the Modern Family Office reveals that the next decade will be a defining era for the world’s wealthiest families.

For many family businesses, social value is an inherent part of their identity, deeply rooted in their legacy, long-term vision and strong community ties.

South Korea’s economic story in the latter half of the twentieth century and into the twenty-first is often told in terms of its chaebols — large family-controlled conglomerates such as Samsung, Hyundai, LG, SK, and Lotte. Yet family businesses in South Korea are much more than the chaebol giants; they permeate the entire spectrum of the economy, from small and medium enterprises (SMEs) in provincial towns to globally competitive exporters, and their influence extends far bey

National security concerns are rapidly becoming a defining influence on corporate innovation strategies worldwide, according to the seventh annual International Innovation Barometer published today. The latest report by innovation funding consultancy Ayming finds that national security concerns, from geopolitical instability to supply chain vulnerabilities, have become a top priority. Over two-thirds (67%) of small, and 85% of large, businesses are now integrating national s

In retail, one size never fits all. Different brands need different solutions when it comes to packaging, bespoke signage, specific garment hangers, and their logo on almost everything. Before 2005, it was either make-do with generic versions or spend big on tailored ones from multiple suppliers. That was the driving force that led to Ian Hall creating CCS McLays . He had the idea of being a new kind of partner to retailers. One that puts them in the driving seat. Sourcing a

Despite widespread claims of ‘email fatigue’ amongst many marketers, effective email marketing continues to deliver results. Researchers at Emarsys have found that 81% of small and medium-sized businesses use email marketing as their main customer acquisition channel, with 80% of these same businesses also using email as their main customer retention channel. So, rather than seeing email as something which is ‘old school’, and overlooked in favour of newer channels, see it as

As the draft legislation for the Finance Bill is laid out, the NFU is urging the government to look at its alternative ‘clawback’ solution to the family farm tax to prevent farmers – the food producers of this country – becoming collateral damage from the planned reforms. The government has outlined plans to hold a technical consultation on the draft legislation, including on inheritance tax, to ensure it ‘works as intended’. This is a common process in the development of a F

In family businesses, trust isn’t just a virtue—it’s the cornerstone of success. While strategy, financial discipline, and innovation all play critical roles, it is trust—deep, often unspoken—that underpins the resilience, cohesion, and longevity of family-run enterprises. Unlike corporate environments where contracts, formal hierarchies and performance metrics define relationships, family businesses often operate within a more informal framework. Decisions are influenced not

Navigating the intricate landscape of a family business is a journey filled with both rewarding milestones and formidable challenges. Among the most daunting of these challenges is initiating and engaging in difficult conversations. These discussions often unearth past traumas or unresolved issues, making them particularly sensitive and complex. However, addressing these topics is essential for the health and longevity of both the family and the business. The Reluctance To En

With 80% of UK SMEs classified as family-owned and SMEs contributing 60% of UK employment and 48% of business turnover, it has never been more important to develop and maintain a strong market position. Niki Sterling , a multi-channel growth specialist who excels in identifying hidden pockets of growth and defining distinctive strengths within businesses, shares her insights on why crafting your competitive advantage is essential for long-term success. For family businesses,

Business property relief (BPR) - and agricultural property relief (APR), together APR/BPR - were very valuable exemptions from UK inheritance tax (IHT). It was announced in Budget 2024 that BPR/APR will be reformed from 6 April 2026 and the 100% rate of relief for qualifying business and agricultural assets will be available for the first £1m of combined agricultural and business property but will be reduced to 50% thereafter. Laura Cullinane, Private Client & Tax Senior As

Those with family assets to protect are keen to ensure that they pass down the bloodline rather than face claims from a spouse, which may involve other family members if they too hold shares. Where the couple's assets are in excess of their respective needs, the starting point is a 50:50 share of the marital assets. In order to meet a spouse's claim, the Family Court has the power to order a sale of a family-owned company (if owned wholly by one or both spouses) or a sale of

Family businesses often stand out for their unique blend of personal relationships and professional ambitions. While this dynamic can create a strong foundation of trust and commitment, it can also lead to conflicts that threaten both family harmony and business success. The key to navigating these challenges lies in effective conflict resolution strategies that turn potential stumbling blocks into opportunities for growth and improvement. Common Sources of Conflict in Family

The UK Budget 2024 has introduced significant reforms to Agricultural Property Relief (APR) within the Inheritance Tax (IHT) framework, creating major implications for British farmers. APR has long been a vital tool for enabling family farms to pass to the next generation with reduced tax burdens. However, the upcoming changes mean that larger farming estates could face higher IHT liabilities, potentially threatening their financial sustainability. These reforms have already

Tough conversations are part of any business, but when family is involved, they can be even more complex and charged with emotion. In a family business, discussing finances, roles, and succession planning can be difficult because, in addition to business interests, personal relationships are on the line. However, when handled correctly, these challenging discussions can become a way to grow, create stronger bonds, and to becoming a more resilient business. In family business,

Deloitte Global has released the fourth edition of the Global Future of Cyber survey, which found that cybersecurity is increasingly becoming a cornerstone of many organisations’ growth strategies and business plans amidst today’s advanced and complex threat landscape. The findings from Deloitte Global’s largest cyber-related survey to date show how decision-makers are shifting their responses to cyber threats. Among other strategies, businesses are increasing the responsibil

Nestled in the rolling hills of the Scottish Borders, Stobo Castle Health Spa stands as a majestic symbol of history, luxury, and rejuvenation and is now recognised as one of the most renowned destination spas in the UK. The story of Stobo Castle’s transformation into a wellness retreat is one of vision, perseverance, and a deep respect for the history that has shaped it. Paul Andrews spoke to Stephen Winyard and his wife Mandy, the current owners of Stobo Castle and the next

Alina Timofeeva, a board member for the British Computer Society, has expressed deep concern over the recent UK Budget's potential impact on small businesses, particularly regarding AI security, Cyber security, and innovation. "The increased tax burden on small businesses will inevitably lead to reduced investment in critical areas like AI security, Cyber security and innovation," Timofeeva warned. "This could leave them more vulnerable to Cyber attacks, which are on the rise

As Cybersecurity Awareness Month draws attention to the growing importance of digital security, new research reveals that cybersecurity is being neglected by UK CEOs, posing significant risks to businesses. A survey conducted by compliance training provider Skillcast found that only 6% of CEOs list cybersecurity as a top priority, ranking it ninth out of twelve major regulatory concerns. Despite the increasing frequency of cyberattacks and data breaches, many CEOs continue t

Family businesses are the lifeblood of many economies around the world. From local stores and small enterprises to global corporations like Walmart or Tata Group, these businesses not only drive innovation and growth but also reflect a unique blend of personal and professional values. At the heart of family businesses are the foundational family values that define their culture, guide decision-making, and influence their longevity. Family Values As The Bedrock In family busin