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

The James Donaldson Group, one of Scotland’s longest-standing family businesses, has grown from a small sawmill in Fife into a diversified group of companies that are leaders in timber distribution, manufacturing, and construction. Over its 160+ year history, the company has not only evolved with the times but has also managed to stay true to its roots—a testament to its ability to adapt while remaining grounded in family values. Paul Andrews spoke to Michael Donaldson, Chair

Bridgman Furniture, a name synonymous with luxury and quality, has carved out a distinguished place in the furniture industry over decades. Known for its exceptional craftsmanship and innovative designs, Bridgman's journey from a modest beginning to a celebrated brand offers a fascinating glimpse into the evolution of fine furniture making. Paul Andrews spoke to the third generation CEO, Alex Bridgman, to find out more. The story of Bridgman Furniture begins in the early 197

At RoniB's Kitchen, they aim to bring products that feature the bold and complex flavours of the Philippines. All of their products are lovingly recreated from family recipes and for Roni, who founded the business, her own memories of home. Made with the best local and Southeast Asian ingredients, their products are all-natural and free from artificial flavourings, colourings and preservatives. Paul Andrews spoke to Roni to find out more. The business was founded in 2017 sta

Nestled in the picturesque Borders of Scotland, Thorburn Group has established itself as a prominent name in the construction and civil engineering sectors, delivering quality steel frame buildings and fabrication services to agricultural, industrial, and commercial industries. Paul Andrews spoke to Euan Thorburn to find out more. Thorburn Group has a rich history spanning several decades, the company has not only contributed to the development of the region but has also demo

Almost half of companies (46) in the FTSE 100 made prior year adjustments to their previously reported climate and sustainability metrics this year, according to analysis by Deloitte. Deloitte’s analysis looked at the climate and sustainability disclosures in the most recently published annual and/or sustainability reports as of 31 December 2023. Of the restatements made, 89% related to greenhouse gas emissions (GHG) metrics, with the remainder (11%) comprised of a variety of

Conflict within family businesses is often viewed with apprehension, yet it is a ubiquitous aspect of their dynamics. Unlike purely corporate entities, family firms merge personal relationships with business interests, creating a unique environment where conflict can be both a source of tension and an opportunity for growth. In fact, many see conflict as an inevitable component of family businesses but also something that can potentially drive the business forward. The Natur

William Whiteley & Sons has been around for a long time, since 1760 to be exact. The business officially began during the forefront of the industrial revolution, although the family believe that it traded even earlier than this. Since 1760, William Whiteley & Sons have been designing and manufacturing beautifully hand-crafted scissors from their home in Sheffield, the birthplace of British steel. Whiteley’s is still family-owned and run today, in the hands of the eleventh a

Amid intensifying geopolitical tensions, ransomware attacks in 2024 are set to reach record levels, escalating the risks faced by companies worldwide. There is a shift toward more sophisticated extortion tactics, emphasizing the urgent need for coordinated global action and robust incident response strategies as organizations confront increasingly aggressive and persistent cyber threats, says GlobalData , a leading data and analytics company. GlobalData’s latest Thematic Inte

Founded in 1860, The Ice Co is Europe’s leading ice manufacturer and the UK’s number 1 ice brand, with bestselling products such as Super Cubes, Polar Cube and Party Ice. Almost 160 years later, The Ice Co still operates with the same entrepreneurial spirit and passion for ice that the business was founded upon. Now led by the sixth generation of the Marr family, keeping their customers cool is still at the forefront of everything they do, which is celebrated in the range of

Brendan Clarkson, Business Advisory Director at PKF Littlejohn , spoke to Josh Levy, CEO of Ultimate Finance about the challenges of starting up and scaling up your business, and discussed all things asset-based lending. Since opening its doors in 2002, Ultimate has provided more than £10bn in funding to support their customers’ growth ambitions. How can asset-based lending help with both starting out and scaling up? Every business’ journey is unique, but they do have pivotal

Source One Consulting is a business run by a small team comprising first and second generation family members who are full of entrepreneurial spirit. Paul Andrews went to meet them to find out more. Source One Consulting was launched by Pat and Lisa Lewis in 2002 with the ambition of creating one of East Anglia’s leading office design and refurbishment businesses. Since those early days, they have grown and expanded, developing their service to offer a couple of desks and c

In today's digital age, social media is an indispensable tool for businesses of all sizes. For family-owned businesses, leveraging these platforms can be particularly beneficial. They provide a cost-effective way to connect with customers, build brand loyalty, and expand your reach. Here’s how you can make the most of social media for your family business, along with essential tips for success. 1. Choose The Right Platforms Not all social media platforms are created equal, an