Few words in a family business conversation carry as much weight as “succession.” Say it in a room with a founder and their adult children, and watch the atmosphere shift. Some people go quiet. Others lean in. Someone inevitably looks at their phone. That reaction tells you something important. The word lands differently depending on who you are and where you sit in the family. For a founder in their later years, it can feel like the beginning of the end. For a rising-generation inheritor, it might signal opportunity — or pressure. For a spouse who arrived later, it can feel like a conversation they’re not quite invited to join. No wonder so many families avoid it. But here’s the thing: the conversation is already happening — just in fragments, in separate rooms, with different information and unspoken assumptions. What’s missing isn’t a plan. It’s a shared conversation. It’s Not Just About Assets Most succession conversations default quickly to structure: who gets what, when, and on what tax terms. Those questions matter. But they’re not the whole picture. In a family enterprise, succession is really three distinct transition unfolding – and the family dimension is often the least discussed. The family role . Who holds the family together? Who convenes people, carries the values, keeps the story alive? Who steps in when there’s a difficult conversation that needs to happen? This is rarely written into a legal document, yet in practice it often shapes how the whole system actually functions. And when a parent steps back, the family dynamic inevitably shifts — often from a parent–child structure to a sibling or cousin one. That relational transition deserves as much thought as any transfer of shares. The ownership role . Who holds the shares? Who actually chairs the shareholder meetings – and who makes the calls about dividends, reinvestment, or liquidity? Ownership brings rights and responsibilities that may or may not align with family hierarchy or operational leadership. The business role . Who leads the operating business — as CEO, chair, or director? Who carries the industry credibility and day-to-day responsibility? Operational leadership requires capability, experience and appetite — and may sit inside or outside the family. These roles often transfer at different times — and not necessarily to the same person. A founder might hand over the business leadership while staying deeply involved as family head and majority shareholder. A next-generation family member might take on governance responsibilities long before they’re ready for the operating role. Understanding which transition you’re actually discussing changes the conversation entirely. A useful question to sit with: Am I clear which of my roles I am thinking about transitioning — and am I being open about that with the people who matter most? What is the enterprise actually for? Succession isn’t only about transferring control. It’s also about transferring purpose. Every family enterprise carries an origin story: why it was built, what it stood for. But as generations change, so do priorities. The rising generation may care deeply about work/life balance, impact, sustainability, or philanthropy in ways that weren’t central to the founders’ thinking. Some families want to grow. Others want to simplify. Some are genuinely unsure. Succession planning that skips this conversation often produces technically sound structures that sit uncomfortably with the people who have to live inside them. Before the structural questions, it’s worth asking the bigger ones: What is this enterprise ultimately for? Is that purpose still shared? And does the rising generation feel ownership over that purpose — or are they inheriting someone else’s vision? Why Doing It Alone Rarely Works Succession planning often begins with confidential conversations between a founder and their professional advisers. That discretion can be entirely appropriate. Yet when plans are only shared once finalised, families sometimes find that questions or assumptions surface that might have been easier to address earlier. The issue is not secrecy. Founders are entitled to make decisions about their own assets and enterprises. Rather, it is timing. When family members only hear about a plan after the fact, they lose the opportunity to prepare, to ask thoughtful questions, or to adjust expectations while the decision-maker is still available to explain the reasoning behind it. It is understandable that families hesitate to widen the conversation. There can be concern that raising succession will trigger difficult dynamics. In reality, those dynamics rarely appear out of nowhere. They tend to exist already, beneath the surface. Avoiding the conversation rarely removes them; more often it simply postpones them and they eventually resurface in times of stress, such as bereavement or crisis, when emotions are heightened, legal structures are already in place and flexibility is limited. A structured, well-supported conversation about succession — even if it feels imperfect — is usually more stabilising than silence. It allows families to move forward with greater clarity, preparation and mutual understanding. It’s A Process, Not An Announcement One of the most helpful reframes I find myself offering families is this: succession is rarely a single event. It’s a gradual movement through stages. Roles shift incrementally. Shareholdings transfer over time. Governance evolves. Founders typically step back long before they step away — and that stepping back can take many forms: reducing operational involvement, moving from CEO to chair, transitioning from chair to family patriarch or matriarch with a different kind of influence. This matters practically. A family in the early stages of thinking about succession has very different needs from one where a transition is already underway. Getting honest about which phase you’re in — and whether you’re pretending you’re further along than you are, or further behind than you need to be — is usually a productive place to start. Who Can Help With All This? Good succession planning usually involves a range of trusted advisers, each bringing a different lens. Lawyers translate intentions into durable legal structures — shaping wills, trusts and shareholder agreements that clarify rights and responsibilities. They often act as long-term confidants, ensuring decisions are robust and clearly documented. Tax advisers help families understand how proposed plans interact with the wider fiscal and regulatory landscape, illuminating implications and trade-offs so choices are made consciously and sustainably. Governance advisers focus on how things will work in practice: who is involved, who decides what, how information flows, and how family and ownership forums operate. They help design processes that support clarity and accountability over time. Corporate advisers may support valuation or transaction processes where ownership transition intersects with business strategy. Coaches or psychologists can help individuals and families navigate the identity shifts and communication challenges that often accompany major transitions. Each perspective is valuable. The complexity arises because succession decisions rarely sit neatly in one domain. A technically sound structure can still create strain if expectations are unclear, or if roles evolve faster than relationships. For that reason, it helps when someone — whether a governance professional, a lawyer with a broad advisory remit, or another experienced adviser — is able to see across the system and ensure that structural, relational and strategic considerations are aligned. Succession plans rarely falter because the documents are flawed. More often, it is because the human and practical dimensions were not considered alongside them. From Control To Continuity Most families know they “should” address succession. The real barrier is rarely technical. It is that these conversations signal change — of role, authority and identity. Naming that reality can make it easier to move forward, rather than waiting for circumstances to force the issue. The earlier you start, the more options you have. You can explore, adjust, prepare people, and get the structures right. The later it starts, the more constrained the choices become. The goal, in the end, isn’t simply to pass something on. It’s to prepare people, purpose, and structures so that the next chapter positively enhances the lives of those it touches. Some Questions Worth Sitting With If this transition went really well — for you, for the rising generation(s), and for the enterprise — what would be true five years from now? What exactly are you trying to transition — control, ownership, responsibility, identity, income, or all of these? What, if anything, feels like it may be holding your progress back? What is one small, constructive step you could take in the next 90 days to move the conversation forward?

GAP Hire Solutions, the UK’s largest independent hire company, has strengthened the technical expertise within its lifting division with three team members achieving Appointed Person certification: Pete Monniot, Daniel Gruffydd and James Daniel. While GAP does not carry out lifting operations, the qualification provides a deeper technical understanding of lift planning, site constraints, and lifting methodologies. This allows the company’s lifting specialists to engage more effectively with contractors’ Appointed Persons and lifting teams on site. As a provider of lifting equipment, this enhanced knowledge ensures GAP can better support customers during the planning and coordination stages of lifting activities, helping ensure equipment is specified correctly and delivered in line with site requirements. All three newly qualified Appointed Persons have developed their expertise in accordance with industry legislation and best practice, including the Lifting Operations and Lifting Equipment Regulations (LOLER) 1998. Pete Monniot, Head of Lifting – South, commented: “As an equipment provider, it’s important that we understand the technical and operational challenges our customers face when planning lifting activities. Achieving Appointed Person certification strengthens our ability to engage with site teams at the right technical level, ensuring we can support them in specifying the correct equipment and meeting the requirements of the lift plan. It ultimately gives our customers confidence that they’re working with a supplier who understands the realities of lifting operations.” Achieving Appointed Person status demonstrates GAP Hire Solutions’ ongoing investment in professional development and reinforces the company’s reputation as a trusted partner in lifting solutions.

Solar shading firm Caribbean Blinds marked the recent Global Shading Day by highlighting the growing need for effective sun protection in homes and workplaces across the UK. Created by the European Solar Shading Organisation, Global Shading Day is an international initiative designed to highlight how solar shading can reduce energy use, lower emissions and improve comfort and wellbeing. For Suffolk-based Caribbean Blinds, the day offered a timely opportunity to showcase the firm’s new White Paper, published at the end of 2025, which explores why external shading is no longer a luxury but a vital response to Britain’s warming climate. Research commissioned for the White Paper reveals that while 41 per cent of homeowners worry about overheating, only 15 per cent identify poor solar shading as the main cause. External blinds, on the other hand, can block up to 97 per cent of solar gain, reducing indoor temperatures by almost 20°C. Yet despite their proven effectiveness across Europe, UK adoption remains limited. Modern designs now accommodate sliding doors, rooflights, conservatories and pergolas, providing solutions from blackout bedrooms to mesh fabrics that preserve views, all with minimal maintenance. Stuart Dantzic, Managing Director of Caribbean Blinds commented: “Large windows and bifold doors are hugely popular, but they let in a lot of heat. External blinds stop that heat at source. They are simple, effective and underappreciated, and understanding them better could transform UK homes this summer and beyond.” Caribbean Blinds’s White Paper is aimed at installers, architects and homeowners alike, demonstrating that shading is a sustainable response to climate change and a growing commercial opportunity for UK installers. To download visit here .

The LEGO Group has revealed plans for a solar park at its U.S. factory, LEGO Manufacturing Virginia. The project will significantly expand the site’s on-site renewable capacity and marks a significant milestone towards the ambition of sourcing 100% renewable energy for the facility’s annual needs. Construction of the solar park, located on-site at the company’s Chesterfield, Virginia factory, is expected to begin this summer. The project will feature over 30,700 ground-mounted panels with a total capacity of 22 MWp, occupying nearly 80 acres. The company also plans to install 10,080 rooftop solar panels on top of its buildings, producing an additional 6.11 MWp of capacity. Jesus Ibañez, General Manager of LEGO Manufacturing Virginia, said: “We’re proud of the progress we continue to make. These initiatives are key to increasing our use of renewable energy and support our ongoing commitment towards more sustainable operations.” Construction is progressing on schedule following the factory’s steel topping out in October 2025. The site’s office space, constructed from mass timber, is on track to be topped out later this spring. The use of mass timber, a renewable resource that sequesters carbon rather than releasing it, also contributes to the site’s ambition to minimize energy consumption and the use of non-renewable materials. Team size to double over course of 2026 The LEGO Group is committed to building a strong team and contributing to the local community through the creation of highly skilled jobs in Virginia. More than 500 team members currently work across the factory that is under construction and the company’s temporary packing facility – a number that is expected to nearly double to approximately 900 by the end of 2026. The sharp increase is to prepare for operations of state-of-the-art, highly automated molding and packing machinery. Deepening community roots through continued funding support As construction of the factory continues and the company becomes increasingly rooted in the community, the LEGO Group remains dedicated to making a positive impact. Last month, it announced continued support for local communities in the Greater Richmond area, committing more than $1.3 million in grants to eight nonprofit organizations. Since 2022, the LEGO Group has provided more than $3.5 million in grants, funded by the LEGO Foundation, with the ambition to bring more play opportunities to kids in the region. Facts LEGO Manufacturing Virginia Location: Chesterfield County, Virginia, USA. Investment: More than US $1.5 billion including the factory and regional distribution center. Land: 340 acres/137 hectares, equivalent to 260 American football fields. Buildings: 13 buildings that cover approximately 1.7 million ft² / 160,000 m² and include office spaces, molding and packing buildings, an energy center, a high bay automated warehouse, and more. Jobs: Over 1,700 positions over 10 years, with recruitment ongoing. For full list of jobs, visit our career page or follow LEGO Careers and see how you can build your career. Precision manufacturing: All LEGO factories globally follow the same blueprint, using high-tech equipment to produce bricks with 1/10th of a hair’s width precision. Sustainability initiatives Certification: The aim is to secure LEED Platinum certification (Leadership in Energy & Environmental Design) for the building once it is completed including energy, water and waste. On-site solar power: Solar power will be generated through 10,080 rooftop solar panels with a capacity of 6.11 MWp and 30,752 ground mount panels with a capacity of 22 MWp. Renewable energy:  The LEGO factory will increase its use of renewable energy through on-site solar generation and continues to look for solutions to account for remaining energy needs. Zero waste to landfill: The new factory shares the same ambition as all LEGO operations of achieving zero waste from factories to landfill. Almost all waste is either reused, recycled, composted or sent to non-landfill waste-treatment options.

The UK’s leading baby mattress manufacturer, Nursery Connections, has stepped up its expansion with the £2m acquisition of a major manufacturing facility in Northamptonshire. Owned by Raskelf Group, the business has secured the 3.4-acre factory in Corby, where it will establish a state-of-the-art Baby Sleep Innovation Centre alongside a purpose-built showroom.  Thomas Colleran, Commercial Director said: “Our goal is to lead the next generation of baby mattress innovation by bringing product design, material testing and prototyping under one roof." “The factory has been purchased rather than leased – demonstrating our long-term commitment to UK manufacturing. Representing a 70% increase in space, this site will become the new home of Nursery Connections’ manufacturing operations, with a further £250,000 investment planned in new machinery and specialist equipment.” Nursery Connections was acquired out of administration by Raskelf Group in 2023, securing the brand rights and key assets – including stock and equipment. The deal safeguarded jobs, with employees continuing operations at the original Corby site, where expertise in developing baby mattresses had been built over two decades. In just two years under Raskelf’s ownership, the business has grown to become the UK’s No.1 baby mattress manufacturer – producing 10,000 products per week for the domestic, retail and contract markets. This latest investment, said Thomas, marks a significant step forward in Nursery Connections’ growth strategy: “The Baby Sleep Innovation Centre will act as a hub for collaborations with retailers, designers and material suppliers, while the showroom allows prototypes to be inspected first-hand." "The vision is to transform how babies sleep safely and comfortably, with breathability and hygiene at the heart of our decision-making. As a father of two young girls, I understand that a family’s wellbeing often depends on how well children are sleeping. We are focused on making sure families everywhere experience the best night’s sleep possible.” The Innovation Centre will feature dedicated facilities to develop and test new baby sleep materials and mattress constructions, with multiple areas of focus including breathability and airflow; temperature regulation; support and pressure distribution; hygiene and washability; and sustainability and recycling. Thomas explained that Raskelf’s long tradition of pioneering in the sleep sector gives the company the capacity to drive innovation at this scale. “We’ve come a long way since our company Duvalay’s ‘hero product’ – the sleeping bag with an integrated topper – found success on the BBC’s Dragons’ Den back in 2011,” he said. “Raskelf Group had proven success across multiple brands, sectors and continents before acquiring Nursery Connections, which is now benefiting from decades of expertise in research, development and testing. Opening a Baby Sleep Innovation Centre is the next natural step, as we push the boundaries of what is possible in the sector.”

Lidl GB is donating a further £110,000 to local charities through its community investment programme. This community donation brings the total donated by Lidl GB to good causes to over £2.3 million since 2022. As part of this latest donation, Lidl GB store colleagues were invited to choose a charity in their local area that meant something to them and their local community. Each participating store selected two new local charities for a one-off £500 donation. In addition, Feed it Back charity partners connected to participating stores also received £300 Lidl gift cards. The 'Feed it Back' programme, run with community platform Neighbourly, is Lidl GB’s surplus food redistribution initiative and has delivered over 50 million meals in the last decade to local charities and community groups, helping to tackle food insecurity. From mental health organisations and homelessness charities to youth sports clubs and community food hubs, hundreds of good causes across the country have benefited from these donations. The initiative is helping these organisations continue their vital work supporting local communities and creating opportunities for those who need it most. Commenting on the programme, Ryan McDonnell, CEO at Lidl GB, said: “We've made strong progress in our community investment, supporting millions of people in need through our food donations every year. We are always striving to go further though, which is the inspiration behind this latest initiative. This empowers our colleagues to support locally, creating meaningful change alongside our charity partners in the communities they serve.” Known as ‘The Lidl Effect’, the benefits of Lidl from its operations, investments and employment extend far beyond the basket, driven by investments like these, as well as the Lidl Feed it Back scheme and Lidl Foodies Programme. Backed by a £675,000 investment since 2024, the Lidl Foodies programme provides teacher-led resources through the National Schools Partnership to inspire healthy eating in children. This strong community commitment will now be embedded from day one with every new store opening.

Family Business United has officially launched the 2026 Family Business Lifetime Achievement Awards, shining a well-deserved spotlight on the remarkable individuals who are the very heart and soul of family businesses across the UK. These prestigious awards celebrate those who have made an enduring impact through a lifetime of dedication to their family firm. From visionary leaders and senior executives to loyal employees and steadfast supporters behind the scenes, the awards recognise contributions from both family and non-family members alike. Now firmly established as a highlight in the family business calendar, the Lifetime Achievement Awards are unique in their national reach and focus. They are the only awards dedicated to honouring individuals whose commitment, passion and resilience have helped shape and sustain family enterprises over generations. Organised by Family Business United, the awards are a true celebration of the people who embody the values that underpin family firms – loyalty, stewardship, innovation and a deep-rooted sense of purpose. These are the individuals whose efforts often go beyond the spotlight, yet whose influence is felt across businesses, communities and industries nationwide. Nominations are now open for 2026, inviting colleagues, family members and peers to recognise those who have gone above and beyond in their service to a family business. The awards programme will culminate in a national Family Business Dinner, where winners will be honoured in front of peers, friends and fellow business leaders. The evening promises to be a fitting tribute to those whose lifelong contributions have helped define the success and legacy of family businesses throughout the UK. As Paul Andrews, Founder and CEO of Family Business United explains, These awards are truly special as they honour people that have dedicated a lifetime of service to a family business and the emotion on the evening is always palpable." "It really is a special evening and we look forward to starting the search for this year’s honourees in the knowledge that the 2026 awards will once again reaffirm the importance of celebrating the individuals who make family businesses truly exceptional." Entry is east. Simply complete and return the form below to nominate/enter and be in the running for one of these prestigious awards:

Recruitment has always been one of the quiet fault lines running through family businesses. It is here, more than in strategy documents or balance sheets, that the tension between blood ties and commercial necessity becomes most visible. For all the talk of values, legacy and long-term thinking, the moment a family firm places a job advertisement or interviews a senior hire, it must answer an awkward question: is this a business that genuinely wants the best person for the role, or one that ultimately reserves its trust for those who share the family name? At their best, family businesses possess qualities that many employers struggle to manufacture. They can offer a sense of purpose that goes beyond quarterly targets, rooted in a story that stretches back decades. Candidates are often drawn to the idea of working for an organisation where decisions are made by identifiable individuals rather than distant shareholders, and where success is measured over generations rather than financial years. In a labour market increasingly shaped by a search for meaning and stability, this can be a powerful recruitment tool. The promise of long-term commitment is particularly attractive. Family firms are often reluctant to hire and fire on a whim, preferring to invest in people and ride out downturns. This can appeal to candidates seeking security and the chance to grow with a business. Recruitment conversations in such firms are frequently more personal, with senior family members directly involved, giving applicants a rare insight into the leadership’s values and priorities. For some, this transparency and accessibility outweigh the polish of corporate brands. There is also an advantage in the speed and flexibility of decision-making. Without layers of bureaucracy, family businesses can move quickly when they identify the right candidate, tailoring roles and career paths to individual strengths. This can be especially appealing to entrepreneurial personalities who might feel constrained in larger organisations. In smaller family firms, recruits may find themselves entrusted with responsibility early on, accelerating development and job satisfaction. Yet these strengths have a shadow side. The same closeness that creates warmth and loyalty can raise doubts about fairness and progression. External candidates may worry, often with good reason, that there is a glass ceiling in a family business, beyond which only relatives can pass. Even when family members are not directly competing for roles, the perception of preferential treatment can deter talented applicants or undermine morale once they are hired. Nepotism, or the fear of it, is one of the most persistent challenges in recruitment. Family businesses may insist that roles are filled on merit, but informal decision-making and opaque criteria can tell a different story. A cousin who joins the business straight from university or a founder’s child fast-tracked into management can send a powerful signal to outsiders about whose careers truly matter. This can be particularly damaging when recruiting senior professionals, who may be wary of accepting roles where authority and autonomy are ill-defined. The recruitment process itself can also suffer from a lack of structure. Many family firms rely on personal networks and word of mouth, which can limit the diversity of the candidate pool and reinforce existing biases. While this approach may feel safer and more aligned with family culture, it risks missing out on fresh perspectives and skills, particularly in areas such as digital transformation or international expansion. In a changing economy, insularity can quickly become a liability. There is, too, the question of governance and clarity. Candidates increasingly expect clear job descriptions, performance metrics and reporting lines. In some family businesses, roles evolve informally, shaped by family dynamics as much as organisational need. While this flexibility can be attractive to some, it can be deeply unsettling to others, especially when disputes arise between family members. Recruits may find themselves caught in the crossfire of unresolved family tensions, a risk that rarely features in job adverts but looms large in practice. For family members themselves, recruitment presents a different set of dilemmas. Joining the family firm can be both a privilege and a burden, with expectations shaped by legacy rather than aptitude. When family businesses recruit relatives without clear criteria or external experience, they risk undermining both performance and credibility. Conversely, firms that require family members to gain experience elsewhere before joining often find that this strengthens recruitment overall, signalling a commitment to professionalism. Ultimately, recruitment in family businesses is a test of self-awareness. The advantages of being family-owned, stability, purpose and personal leadership, are real and valuable. But they do not absolve firms of the need for transparency, fairness and inclusivity. Those that recognise this can turn their family identity into a genuine asset in the competition for talent. Those that do not may find that the very ties that bind them together also limit their ability to attract the people they need to thrive in a changing world.

Embracing the latest additive manufacturing technology has accelerated a family-run dental laboratory’s move to a state-of-the-art facility in Macclesfield. Bant Dental, founded by husband-and-wife team Steve and Susan Bant in 1990, has enjoyed a major surge in business after switching from analogue to digital technology, tapping into the capabilities of the industry-leading Stratasys J5 DentaJet™. Supplied and installed by UK Platinum Partner SYS Systems, the 3D printer allows the lab to print fully customisable, full-colour monolithic dental parts, including dentures, surgical guides and models. Multiple components can be printed in a single run, with dentures produced with realistic depth and translucency, removing labour-intensive steps and reducing potential errors. “When I started back in 1990, everything was analogue based. However, as time went on, digital started to creep in and, as it stands today, we are 95% digital at our new lab on Beech Lane in Macclesfield,” explained co-founder Steve Bant. “Initially, the J5 DentaJet™ could produce models, implant models, guides and special trays and this made us a lot more efficient as a business. Then SYS Systems received approval for its groundbreaking TrueDent™ CE-marked resin in the UK, and this opened up a whole new range of possibilities, including 3D printing full-colour monolithic dentures.” He continued: “The ability to print in colour is next level. You can alter the colour of the gingiva, you can give it depth, and you can add translucency on the tips of the teeth. They’ve actually got real depth and, importantly, look fantastic!” Part of advanced technology specialist Carfulan Group, SYS Systems has been a trusted partner throughout Bant Dental’s digital journey. From initial introduction to the available solutions, its 3D printing experts have provided expert guidance and technical assistance to Steve and his team, ensuring the lab gets the most from its investment in Stratasys technology. “The speed and the accuracy of the J5 DentaJet™ is simply next level and has revolutionised our workflow,” continued Dan Bant, Digital Lab Manager and son of Steve and Susan. “In the simplest terms, the volume of work we produce digitally today would necessitate the need for at least three times the number of staff we currently have. The investment we’ve freed up has been poured back into making Macclesfield one of the most advanced dental labs in the country.” He added: “We first met SYS at the Dental Technology Showcase and, from day one, it got our business and where we wanted to head. Its technical specialists walked us through the solutions, eventually settling with the introduction of the J5 DentaJet™. “The support we’ve had with the printer and how we integrate the TrueDent™ resin has been second to none and made an unbelievable difference to our performance at the lab and, more importantly, for patients who are receiving even higher quality and more flexible dentures.” Chris Fulton, Managing Director of SYS Systems, picked up the story: “Embracing digital dentistry has been a gamechanger for Bant Dental and helped it set the foundations for the next thirty-five years in business. “The family-run company is a great example of how our revolutionary 3D printing technology isn’t just for the big laboratories but can be deployed to offer real quality and efficiency savings for fast-growing, innovative labs too.” SYS Systems, which has been a Stratasys UK platinum partner since 2012, delivers a complete turnkey solution, including installation, service, maintenance, training and technical support. From its £2.5m advanced Innovation Centre near Derby, the company has seen sales in the dental market soar by 350% over the last twelve months with the installation of one J5 DentaJet™ every two weeks, as more laboratories and clinics come round to its speed, functionality and aesthetic performance. For further information, please visit here or follow SYS Systems across its social media channels. Photo: Bant Dental (Team Action): (l-r) Steve and Dan Bant inside its Macclesfield lab.

Nearly three quarters (73%) of family business owners are concerned about the impact of upcoming policy and tax changes on both their business and family plans, such as succession, according to research from Hymans Robertson Personal Wealth. Family businesses must prioritise building resilience to help manage any unexpected policy and tax changes that arise in the next tax year, warns the leading financial wellbeing firm. With changes to areas such as Business and Agricultural Property Relief on the horizon, reviewing the strength of their business and personal positions early business owners can gain clarity and reduce risk, leaving them better prepared for the year ahead. The research reveals that employment related tax (41%) and corporation tax (36%) are the biggest drivers of concerns around immediate cost pressures. At the same time, longer term taxes linked to ownership and exit, remain front of mind for family business owners. Over a quarter cite capital gains tax (28%) and state inheritance tax (26%) to be complicating long term decision making. Hymans Robertson Personal Wealth says there are practical steps that owners should take to help them manage their concerns and support ongoing business decisions. These include stress testing cash flow and cost assumptions through scenario testing. Clarifying exposure to tax and policy change to see how the business would perform under different cost, tax or revenue conditions, would also be beneficial. Commenting on the steps family business owners can take, Jeff Simpson, Head of Wealth Management, Hymans Robertson Personal Wealth: “Family businesses are vital to the UK’s economy but in the face of uncertainty resilience is key to continuity. Recently, they’re facing real difficulty when it comes to deciding which changes to act on and how to plan with confidence." "With rules changing infrequently, and the government often back tracking, this instability actively disrupts long-term thinking, making decisions around investment, ownership structures and succession much harder to commit to. These are the same decisions that once felt relatively straight forward, however owners may feel they’re harder to make now." “Steps like scenario testing and clarifying the potential impacts of varying tax changes will help build an understanding of the resilience of their business and reinforce foundations that promote a forward-looking approach to planning. A proactive review can highlight things are perhaps no longer working as intended, or where small adjustments now could have a meaningful impact on future tax obligations or the smooth transfer of the business to the next generation." "Owners should prioritise using available allowances, structure profits in the most tax efficient way, and check whether recent decisions may have unintentionally increased inheritance tax exposure. These are straightforward steps, but they’re often the ones that slip under the radar." “Taking action early doesn’t just reduce risk; it opens more choice. The sooner business owners start assessing their positions, the more options they have to protect value, adapt their plans and put the family in a stronger position should new rules come into force. At a time when clarity is hard to come by, getting organised sooner helps families reinforce the foundations that support confident, forward looking planning and long term resilience.” See the full report here .

UK entrepreneurs are confident about their own business prospects in the upcoming tax year, despite pessimism over the wider UK economy, according to new findings from Rathbones, one of the UK’s largest wealth and asset management groups. A survey of more than 1,000 SME founders, owners and senior executives found that over two thirds (68%) feel confident about their business outlook this year, including almost one in three who are very confident. Yet 37% are pessimistic about the broader economic environment, and 25% believe the government does not do enough to support people looking to build and grow businesses. Faye Church, Senior Financial Planning Director at Rathbones, based in Guildford, says: “Entrepreneurs are clearly backing themselves, even if they don’t feel backed by the system around them. The gulf between business level confidence and national economic optimism shows how hard business owners are working to maintain momentum amid tax pressure and rising costs. This resilience is encouraging, but it also highlights the need for policies that unlock investment and restore long-term confidence." Confidence holds, but fatigue is setting in While motivation among business bosses remains relatively strong (cited by 60% of the sample), nearly a third (29%) report feeling neutral and 12% say they are unmotivated. The findings point to operational fatigue amid ongoing cost pressures and economic uncertainty. Earlier research revealed that more than one in five SME leaders (21%) laid off staff last year due to cost increases, including higher business rates and national insurance contributions. “In our recent conversations with business owners, one theme keeps coming up: in a world of rising costs, shifting tax rules and continued economic uncertainty, people want clarity,” Faye Church adds. “Our clients want to know which financial decisions matter most right now and what practical steps they can take to protect and grow their personal wealth while running a successful business.” Five financial planning priorities for business owners this tax year With business confidence diverging sharply from broader economic sentiment, many founders are refocusing on the areas they can control, starting with their own financial planning. Faye Church outlines five strategies to help business owners strengthen their long-term position. 1. Separate business wealth from personal wealth For many founders and directors, the boundary between personal and business finances can blur. If too much personal wealth is tied up in the company, an unexpected downturn can throw long-term plans off course. Review how much of your net worth sits within the business, whether your salary/dividend mix is tax efficient, and whether surplus company cash is better reinvested, moved into personal investments or added to pensions. 2. Make the most of the current tax environment Tax planning remains a core part of effective financial management for directors, and recent changes to allowances mean business owners should review their approach each year. Key areas to revisit include: • Reduced dividend allowances and the most efficient way to extract profits • Lower Capital Gains Tax allowances on asset or share disposals • Using pension allowances, which may create opportunities for company contributions 3. Manage excess business cash more effectively A common question from business owners is: “What should I do with excess cash in my company?” Cash offers stability, but in a higher inflation environment, holding too much can erode long-term value. Options include optimising working capital reserves, using short-term cash management solutions, and considering longer-term extraction strategies such as company pension contributions (where appropriate). Your approach should reflect your cashflow needs, growth ambitions and personal financial goals. 4. Plan early for succession or a business sale Whether you’re preparing for a future sale, considering a management buyout or thinking about family succession, starting early gives you more choice and usually leads to better outcomes. Questions to explore now include: What does a “sale ready” business look like for you? Is your ownership structure aligned with your future plans? Are you building sufficient personal wealth outside the company? Early planning helps avoid financial surprises and gives you more freedom when the time comes. 5. Build a personal financial plan for life beyond the business Entrepreneurs often prioritise the company at the expense of their own planning. A well-structured financial plan can clarify when you can afford to step back, the income you’ll need later in life, how your investments should be structured and how to protect wealth for future generations. Good planning gives you options, whether that’s growth, a sale or simply more time.

In an era of fast fashion, global supply chains and corporate takeovers, it might seem surprising that family-owned textile businesses, some established over two centuries ago, still thrive. Yet firms such as AW Hainsworth, Johnston’s of Elgin and the historic Macnaughton Group demonstrate that, for certain enterprises, longevity is woven into their very fabric. In an industry shaped by tradition, skill and close community ties, these businesses have stood the test of time where others have faded. As Paul Andrews, founder and CEO of Family Business United, observes: “Family businesses are humble by nature… They’re more focused on getting the job done than shouting about it. But behind closed doors, these businesses are delivering real value, to their employees, their communities, and the wider economy, as many have done for generations." His words capture something intrinsic about family firms, a blend of quiet resilience, stewardship and long-term commitment that differentiates them from many modern corporate models. Craftsmanship and Continuity: The Case of AW Hainsworth In West Yorkshire, AW Hainsworth has been producing fine woollen cloth since 1783, making it one of Britain’s oldest textile manufacturers. For more than 240 years, the business has remained rooted in traditional craftsmanship while embracing innovation to meet changing market needs. Hainsworth fabrics have clothed soldiers, adorned nobility and furnished theatres and palaces around the world. Its longevity is not merely a matter of heritage, it’s a testament to the ability to marry quality with adaptability. The firm continues to invest in sustainability and technical development, recognising that heritage alone is not enough without ongoing evolution. Luxury and Integration: Johnstons of Elgin Across the border in Scotland, another name synonymous with enduring quality is Johnstons of Elgin, founded in 1797. What began as a small weaving operation in Elgin has become one of the world’s foremost luxury textile houses, vertically integrating spinning, weaving and finishing under one roof. Johnstons’ expertise has ensured its cashmere, tweed and knitwear are not just sought after in the UK, but internationally, supplying haute couture brands and holding royal warrants. Its longevity stems from a willingness to innovate within tradition: preserving artisanal skills while embracing modern design and sustainability practices, such as becoming a certified B Corporation. A Highland Legacy: Macnaughton Group Family business history in textiles extends beyond England and the Lowlands of Scotland. Macnaughton Group traces its roots back to 1783, when Alexander Macnaughton established a spinning operation near Loch Tay. Over seven generations, the company built a reputation for quality woollen fabrics before passing to a new family ownership in recent years. Though no longer under the original family’s control as it has passed to the aptly named Cotton family, Macnaughton reflects the resilience of traditional textile firms: surviving industrial revolutions, two World Wars, economic downturns and the challenges of modern global competition. Its commitment to craftsmanship, meaningful customer relationships and integrity has carried the company forward. Why Textiles Favour Family Ownership So what is it about the textile sector that has enabled these family firms to endure when so many others have disappeared? 1. Heritage as a Competitive Asset In an industry where quality, provenance and identity matter, heritage brands command loyalty. Consumers of luxury textiles or specialist materials often seek authenticity, something that a multigenerational family story reinforces. 2. Long-Term Perspective Textile production, from fibre sourcing to finished product, can be complex and time-intensive. Family owners are often prepared to invest for decades, not quarters. This patience allows them to refine techniques, build deep supplier relationships and withstand cycles that might break other businesses. As Paul notes, family firms share “a deep-rooted commitment, to legacy, to stewardship, and to doing business in a way that reflects their family’s values and they tend to think in generations rather than weeks or months.” 3. Community and Skill Transmission Textiles rely on skilled craftsmanship passed down through generations. Many family firms act as custodians of these skills, fostering loyalty among workers and ensuring knowledge continuity. Apprenticeship traditions and family involvement help to sustain expertise that is otherwise easy to lose in a world of mechanisation and outsourcing. 4. Adaptability Anchored in Values While rooted in tradition, successful family textile firms are not fixed in time. They innovate, diversifying product ranges, expanding into new markets and embracing sustainability, without abandoning their core identity. This balance between continuity and evolution helps them remain relevant even as fashions change. Looking Forward Today’s global textile industry is vastly different from what it was in the 18th century. Yet the enduring success of family firms such as Hainsworth, Johnstons of Elgin and Macnaughton suggests that there is still a place for businesses that think in generations rather than quarters. These companies remind us that longevity is not just about survival, but about preserving something worth passing on: craftsmanship, community, values, and a story that continues to be woven into the fabric of the modern world.