The concept of ‘shirtsleeves to shirtsleeves in three generations’ dates back to an early 20th century proverbial saying, early 20th century implying that wealth created by the founding generation will be lost by the third. The saying is often attributed to the Scottish-born American industrialist and philanthropist Andrew Carnegie and has been widely quoted in the family business sector over the years. We asked our Global Family Business Think Tank Panel if they thought that that the concept of very few firms making it to the third generation using the analogy 'shirtsleeves to shirtsleeves is really relevant today. Our panel were split as to whether or not the adage remains relevant today, highlighting plenty of other factors for consideration when looking to the future and the need to continually evolve and innovate in order to remain relevant as a business over time. THE THOUGHTS OF OUR ‘THINK TANK’ REPRESENTATIVES: “This analogy doesn’t allow for the evolution of a family enterprise and perpetuates the idea that a family should be in one business for multiple generations. I think it would be better to talk about how to nurture connectedness so that the family an change and evolve into new businesses as needed.” Andrew Keyt CEO, Generation6 Family Enterprise Advisers “The power of a sustainable legacy comes from the foundational principles of family values and purpose for the family business established as the beginning of the legacy journey. The problem comes from many family businesses not knowing how to engage future generations with those foundational elements to give them the inspiration to continue the journey instead of taking the benefits of the family business for themselves. That problem still exists today and will continue to until more families learn how to engage their future generations.” Charlie Leichtweis Founder and Managing Director, Experts in How LLC “The idea of ‘shirtsleeves to shirtsleeves’ isn’t supported by the data on wealth preservation. The statistics on business survival rates mainly suggest that keeping a business going for a century or longer is incredibly difficult, not that anything is wrong with family companies. Most of the longest lasting companies in the world are owned by families.” Josh Baron Senior Lecturer, Harvard Business School "The concept needs to be revisited in our fast-paced world. Firm survival is contingent on any factors (mostly external ones) and the family/ownership succession is just one of many factors to consider.” Peter Vogel Professor and Director of the Global Family Business Center, IMD Business School “Even if you believe the ‘shirtsleeves to shirtsleeves’ analogy to be true, surviving three generations (or roughly 75 years) significantly out-performs the lifetimes of most public companies.” Nic Di Loreto Partner, BanyanGlobal “With so many developments within business families, the ecosystems they operate in and the wider business landscape, we can’t go back to these historical data points with any great level of reliability. This also talks to the need for further research and recognition around not just the role of family businesses in today’s global economy but how they are evolving between generations, sometimes not as a family business that continues but as a business family.” Daniel Trimarchi Director, Family Enterprise Advisory, KPMG “Yes, the analogy remains relevant as it highlights challenges in sustaining wealth across generations, despite modern advancements and changing economic landscapes.” Kim-Adele Randall CEO, Authentic Achievements “I think that the concept of a family business not lasting past three generations is still very much prevalent. That doesn’t necessarily mean that the third generation destroys the company but could mean that interest change over time and that they no longer want to run the business in the way that it has been run. This might necessitate a sale but it is not as sad as the traditional analogy in my opinion.” Kyler Gilbert Vice President, Business Consulting Resources “I think it is less relevant today due to increased education, access to advisory support and evolving wealth and professional management practices. However, the challenges around succession planning, family unity and the ability to adapt to changing markets remain very real.” David Twiddle Managing Partner, TWYD & Co “Success can take many forms for family businesses and I find this analogy rather short sighted in that it only views success as continuation through family. What about business continuity? I think that is a way of measuring success too.” Mairi Mickel Founder, Mairi Mickel’s Business Families "Although successfully navigating the succession process remains one of the most substantial challenges for family firms, this does not mean that all family firms are limited to three generations of survival. In fact, there are numerous examples of family firms that have far exceeded the ‘three generation curse.’ The risks highlighted by the three generation adage are indeed real but they are not insurmountable. The modern, evolving business landscape presents new avenues for family businesses to survive and thrive beyond the third generation.” Josh Daspit Associate Professor of Management and the Dean Paul R. Gowens Excellence Professor in Business, McCoy College of Business at Texas State University “The adage suggesting wealth dissipates by the third generation probably needs updating. When a family business ceases to exist, that doesn’t simply mean they fail, they might have strategically sold their original business to diversify investments or launch new ones. This shift suggests that the longevity of an operational firm isn’t the sole measure of success. Instead, their ability to adapt and manage wealth across generations is more relevant. This modern perspective challenges the traditional view and recognizes the evolving dynamics of family businesses into business families.” Anneleen Michiels Associate Professor, Hasselt University and Advisor, Generation6 Family Enterprise Advisers “I see that between industries changing and families becoming more agile, and perhaps with its identity more anchored to the family, the re-framing of family business is happening. Consider a family enterprise where the family brings its values, purpose, talents and relationships to bear in all its shared activities. This means that selling a business is less likely to be viewed as a failure for the family or the business.” Greg McCann Founder and Advisor, Generation "This needs to be contextualized. What is failure? Bad data in, bad data out. The trend for the last decade has been family office and entrepreneurship which means a change but not shirtsleeves to shirtsleeves per se. We, as an industry, focus too much on the failures and not the successes which is a problem in itself.” Natalie McVeigh Managing Director, Eisner Amper These results were part of the 2 024 Global Family Business Think Tank Report that was published in Autumn 2024. A copy of the final report is available to download below and is free to Family Business United members and digital subscribers (simply log in to access). If you are not yet a member or digital subscriber and wish to obtain access to the report, you can find out more about becoming a member  of Family Business United here  or take out a digital subscription  to access all areas and content available on the platform including this report here Download the Global Family Business Think Tank Report, Autumn 2024 here

Family businesses form the backbone of many economies, contributing significantly to job creation, innovation, and community stability. However, transitioning leadership in a family business is not without challenges, as it often entails balancing legacy with modernity, tradition with innovation, and family dynamics with business growth. The next generation stepping into leadership roles must equip themselves with a distinct blend of technical, emotional, and strategic competencies that go beyond traditional leadership skills. Here, we explore some of the core skills and competencies that are vital for this new generation of family business leaders to thrive and ensure the continuity and success of their family firms. 1. Emotional Intelligence and Relationship Management A key competency for family business leadership is emotional intelligence, or the ability to manage one’s emotions and navigate interpersonal relationships with empathy and tact. In a family business, the lines between professional and personal relationships blur, often creating tensions that do not arise in non-family organisations. Being able to balance these relationships, especially when decisions impact family members, is crucial. Leaders must demonstrate high levels of self-awareness and emotional regulation to keep personal biases from affecting business decisions. They also need to foster open communication and transparency, skills that are fundamental to resolving conflicts in a way that maintains both family harmony and business interests. For the next generation, mastering emotional intelligence can transform potential sources of discord into opportunities for deeper collaboration. 2. Succession Planning and Talent Management Succession is one of the most critical challenges in a family business, and yet, it is often mishandled. The next generation must develop expertise in succession planning—not only ensuring that they are prepared to lead but also that the business has a clear strategy for identifying, nurturing, and transitioning talent. A key aspect of this is understanding that leadership roles need to be earned, not simply inherited. The modern family business leader must be adept at talent management, identifying which family members and external professionals are best suited for specific roles. They should foster a culture that values meritocracy over nepotism while ensuring that the legacy of the family remains intact. Balancing this requires developing the ability to mentor and groom future leaders while recognising when external expertise might be necessary to drive the business forward. 3. Business Acumen and Financial Literacy Although emotional and relational skills are indispensable, technical business knowledge remains the foundation of effective leadership. The next generation must possess solid business acumen, particularly in areas like financial management, strategic planning, and market analysis. Financial literacy, in particular, is critical; understanding cash flow, profit margins, and investment strategies ensures that leaders can make informed decisions that sustain the business through economic fluctuations. In a competitive and often volatile market, family businesses need leaders who can analyse financial reports, understand market dynamics, and create long-term value. These skills will help leaders steer their companies toward sustainable growth while safeguarding the family’s wealth and legacy. 4. Adaptability and Innovation In today’s rapidly changing business landscape, adaptability is more important than ever. The next generation of family business leaders must be comfortable navigating uncertainty and embracing change. Whether it’s incorporating digital transformation, responding to disruptive technologies, or expanding into new markets, leaders need to foster a mindset of continuous learning and innovation. Legacy businesses can sometimes be resistant to change, relying on practices that may have worked in the past but are no longer effective. New leaders must possess the courage to challenge the status quo and implement innovative solutions that maintain the relevance and competitiveness of the family business. This might include embracing e-commerce, adopting sustainable business practices, or exploring new business models that align with modern consumer preferences. 5. Governance and Accountability Structures One of the defining features of successful family businesses is the establishment of strong governance structures. The next generation of leaders must be well-versed in corporate governance, particularly as family businesses often lack the formalised processes typical in larger, publicly-owned companies. Governance ensures accountability, transparency, and the separation of family and business interests. Leaders should cultivate a clear understanding of governance mechanisms such as advisory boards, family councils, and external audits. These structures not only enhance operational efficiency but also help resolve conflicts by providing impartial oversight. An understanding of governance is crucial for leaders aiming to professionalise their business while preserving the family’s influence. 6. Cultural Sensitivity and Global Perspective Many family businesses have expanded beyond local markets and are now global players, requiring leaders to have a nuanced understanding of international markets, diverse cultures, and global economic trends. Developing a global mindset allows leaders to navigate cross-cultural relationships with suppliers, partners, and clients, which is essential for global expansion. For the next generation, this might mean leveraging the benefits of family unity while simultaneously adopting best practices from different cultures and industries. Developing cultural sensitivity and global strategic thinking is vital for positioning the family business in a world that is more interconnected than ever before. 7. Purpose-Driven Leadership and Sustainability As businesses increasingly face pressure from consumers, regulators, and investors to prioritise sustainability, future family business leaders must integrate environmental and social governance (ESG) principles into their business models. This requires a clear understanding of the broader societal and environmental impacts of business decisions and a commitment to building enterprises that benefit all stakeholders. The next generation of leaders can harness the values and long-term orientation that often define family businesses to pioneer efforts in sustainability, corporate social responsibility, and ethical business practices. Doing so not only aligns the business with modern consumer values but also ensures that it is equipped to meet the challenges of the future, from climate change to resource scarcity. 8. Resilience and Long-Term Thinking Family businesses are known for their long-term orientation, as many are built with the intent of being passed down from one generation to the next. The next generation of leaders must continue this legacy of resilience, focusing on strategies that prioritise sustainable growth over short-term gains. This requires patience, perseverance, and the ability to stay focused on long-term goals even in the face of challenges. Developing resilience also means preparing for crises, whether they come in the form of economic downturns, family disputes, or market disruptions. Leaders need to establish strong contingency plans and foster a culture of agility within the organisation, ensuring that the business can weather the storms ahead. 9. Communication and Vision Articulation Clear and effective communication is essential in any business, but it takes on added importance in family enterprises, where leadership transitions and strategic shifts need to be communicated to multiple stakeholders—family members, employees, and sometimes even customers. The ability to articulate a clear vision for the future is key to gaining buy-in from all stakeholders. Leaders need to be skilled at both internal communication (managing family expectations, employee engagement) and external communication (branding, investor relations). They should be able to convey their vision and strategy in a way that aligns the family’s values with the broader business objectives, ensuring that the business remains cohesive and purpose-driven. Taking on a leadership role in a family business presents a unique set of challenges, but it also offers unparalleled opportunities for impact. The next generation of leaders must navigate the complexities of family dynamics, market pressures, and the demands of innovation with a sophisticated skill set that balances emotional intelligence, technical knowledge, and strategic foresight. By honing these core competencies—emotional intelligence, financial literacy, adaptability, governance, global thinking, sustainability, resilience, and communication—future family business leaders can not only safeguard the legacy they inherit but also take it to new heights. Success lies in understanding that while the past shapes the present, the future belongs to those who are willing to learn, adapt, and lead with purpose

Johnsons Nurseries Ltd has proudly launched a new series of Plant Health Training Sessions, reinforcing its commitment to biosecurity standards and maintaining its Plant Healthy Certification. The century-old nursery is a leader in the horticultural industry and is furthering its dedication to plant health and biosecurity by launching a series of training sessions designed to protect against destructive plant pests and diseases. The sessions, run by Cattal Manager Tom Watkins from September to December, are aimed at employees who work directly with plants, helping to strengthen the company’s ability to maintain its Plant Healthy Certification and safeguard the broader industry. As a Plant Healthy Certified business, Johnsons is committed to adhering to the highest biosecurity standards. These training sessions are a crucial part of that commitment, ensuring that staff members are well-equipped to identify, understand, and report any potential plant health issues. This proactive approach helps reduce the risk of introducing or spreading harmful pests and diseases, a key responsibility for the company. The training will cover crucial areas such as identifying early signs of plant health issues, understanding the impact of common and notifiable pests and diseases, and the necessary steps for effective reporting and prevention. Participants will leave the sessions with the knowledge to protect the biosecurity of both Johnsons’ stock and the industry at large. By investing in training, Johnsons is reinforcing its commitment to producing healthy plants and maintaining its strong reputation for quality and care within the horticultural community. Johnsons Commercial and Business Manager, Jonathan Whittemore commented: “Being Plant Healthy Certified is a great honour, but it also comes with responsibility." "These training sessions are designed to give our team the knowledge they need to help protect the integrity of the plants we grow and trade. By working together, we can ensure that our high standards are upheld, benefiting not only our business but the entire horticultural sector.”

In the world of family-owned businesses, it’s not just profit margins, legacy, or product lines that define success—it’s the people. Whether it's the family members working side by side or employees who have spent decades, or even generations, contributing to the company’s growth, the human element is what makes these businesses exceptional. Family firms have long been celebrated for their resilience and unique ethos, but behind that durability is the loyal workforce that bridges generations, building and nurturing the very heart of the business. A Deeply Rooted Connection What distinguishes a family business from its corporate counterparts is the deep, personal connection that both family members and employees often feel toward the company. The story of a family-owned firm usually begins with a founder’s dream—often starting humbly in a garage, a small storefront, or a workshop. As the business grows, so too does the tight-knit community that forms around it. Many employees are not simply hired hands but are deeply invested in the company's success, sometimes viewing their role as an extension of their own family story. Take, for example, the family-owned bakery where the head baker is not a relative but has been with the company for over 40 years, starting as an apprentice and eventually becoming a master of the craft. Or consider the auto-parts manufacturing business where the floor manager is the grandson of one of the original employees. In these businesses, loyalty isn't just a professional trait—it's woven into the fabric of the workplace, creating a sense of belonging and mutual respect. The Emotional Investment The employees who work at family businesses often express a unique emotional attachment to their roles. This is particularly evident when you meet workers who have spent their entire careers with the same family firm. It’s not uncommon to hear stories of individuals who joined the company straight out of school and are now seeing their children step into roles within the same organisation. This longevity fosters a deep loyalty and understanding of the company’s mission, far beyond what’s typically seen in larger, publicly traded corporations where high turnover is common. This dedication often manifests in the way employees treat their work and customers. They’re more likely to go above and beyond, because they see the company as an extension of themselves. The personal touch that comes from employees feeling part of a larger family often translates into better customer service, higher quality products, and a commitment to maintaining the company’s reputation. Customers, in turn, can feel the difference. They sense that they're dealing with people who care, and not just clocking in hours to collect their pay either. Generational Wisdom and Continuity A unique characteristic of family businesses is the generational knowledge that gets passed down. In many cases, both family members and long-term employees share this transfer of wisdom. Consider the case of a furniture-making business where both the owner and the lead craftsmen learned their skills from fathers or grandfathers who worked side by side decades ago. The techniques, values, and attention to detail become part of the DNA of the firm, creating a product or service that feels authentic, refined, and timeless. For the employees who have been with these companies for generations, the sense of responsibility to uphold this legacy is strong. There's pride in keeping traditions alive while also adapting to new market challenges. This combination of honouring the past while embracing the future is something that family businesses do well, largely because of the continuity provided by their loyal workforce. The Extended Family: Employees Who Become More What truly makes family businesses special is how they transcend the traditional employer-employee relationship. Many long-term workers in family firms start to feel like they are part of the family themselves. Whether it’s being invited to family celebrations or consulted on important company decisions, these employees are more than just cogs in the machine—they are essential to the company’s identity and success. Employees are not just there to serve the brand’s bottom line, but are considered integral to its ongoing narrative of craftsmanship, quality, and dignity in work. These practices are echoed in family firms across industries. Employees often find their voices are heard and valued in ways that might not be possible in larger, more impersonal organisations. This inclusion leads to a strong internal culture, where trust and mutual respect are the bedrock. The more family businesses treat their employees as extended family, the more committed these workers become to the company’s long-term vision. Strength in Adversity The close bonds formed within family businesses are also what help them survive in times of adversity. Whether it’s an economic downturn, a sudden change in the marketplace, or even the recent challenges brought by the global pandemic, the resilience of family firms often comes down to the dedication of their employees. People step up in extraordinary ways, knowing that they’re not just protecting their job, but the future of a legacy. During the 2008 financial crisis, countless family businesses around the world faced the harsh reality of shrinking revenues and looming closures. But what set many of these firms apart was the willingness of employees to tighten belts and share the burden. In some cases, workers even volunteered for temporary pay cuts or reduced hours to help the business stay afloat. This level of commitment is a testament to the relationships built within these organisations. A Unique Company Culture The company culture of a family-owned firm is another key differentiator. These firms often foster a unique, more personal atmosphere where employees experience the same sense of community and purpose that the family feels. There’s a shared goal beyond profit: maintaining the family’s name and ensuring the business continues for future generations. Family businesses tend to place a higher value on long-term stability than short-term gains, and employees understand this. In many cases, this means the company’s ethos is centred on people, not just shareholders. Decisions are made with the well-being of workers in mind, knowing that a loyal, satisfied workforce is essential for maintaining the company’s reputation and longevity. The Human Element in the Digital Age In an increasingly digital world, family businesses are finding new ways to stay relevant, and the human element is still their most powerful asset. While corporations turn to automation and AI, family firms are leaning into their human capital to offer something that technology cannot—personal relationships and trust. Family businesses know that in a world where everything is becoming more impersonal, it is the people behind the company who can make the difference between a fleeting transaction and a lasting partnership. At the heart of every family business are the people—both family and non-family—who are bound by more than just contracts. They are united by a shared commitment to the company's success, a belief in its values, and often, a multi-generational attachment that makes them care deeply about the future of the business. These relationships make family firms more than just businesses—they are legacies sustained by the human spirit. In the end, it is the people—dedicated employees who see themselves as part of the extended family—that make family businesses truly special. It is their stories, their loyalty, and their hard work that ensure that family firms remain resilient, thriving for generations to come.

In response to historic flooding in the aftermath of Hurricane Helene, Perdue Farms is sending three truckloads of frozen chicken and pet treats to western North Carolina and northwest South Carolina to help our neighbors in the communities impacted by the disaster. Todd Tillemans, Chief Commercial Officer for Perdue Farms said: “The unimaginable losses endured by thousands of Carolinians, in states where we operate and our associates and their families call home, is heart breaking. Our thoughts go out to all those affected by this tragedy. We hope our contributions will help speed the long recovery process for our neighbors in the region.” Perdue is working with Feeding America® partner food banks in the region to deliver 80,000 pounds of chicken — the equivalent of more than 66,000 meals — and a truckload of Full Moon® and Spot Farms® brand dog treats. Linda Nageotte, president and chief operating officer at Feeding America said: “As families in the Carolinas work to reclaim their communities, Feeding America is appreciative of partners like Perdue Farms that respond quickly to support people in need with valuable food and grocery items. Perdue’s donation of protein will help food banks provide nourishment to people recovering from the damage. The company’s donation of pet food recognizes the importance of feeding the whole family.” The donation will support relief efforts in partnership with Second Harvest Food Bank of Metrolina in Charlotte, Manna FoodBank in Asheville, which lost all its food in the flooding, and Second Harvest Food Bank of Northwest North Carolina. “As we work to assist our neighbors affected by Hurricane Helene, we are deeply grateful to companies like Perdue,” said Kay Carter, CEO of Second Harvest Food Bank of Metrolina. “Thank you for making it possible to replace protein losses for so many in our region who lost food due to widespread power outages. This gift will help so many of our neighbors and their four-legged friends.” Perdue’s donations are part of the company’s Delivering Hope To Our Neighbors® outreach to improve quality of life and build strong communities.

To protect dry foods from the environment, they are often packaged in multiple layers. An outer layer, a barrier layer, and an inner layer are standard for many types of packaging. Depending on the specific requirements for barrier properties and shelf life of the product, two to five layers may be used, resulting in an enormous amount of waste. Together with Panverta CPP, Henkel Adhesive Technologies has developed films with an improved oxygen barrier layer that make it possible to reduce the number of packaging layers – a major step forward in terms of sustainability. From October 23 to 25, packaging manufacturers and brand owners can see the results of this collaboration for themselves at Henkel's booth 1C17 at Tokyo Pack 2024. Flour, rice or pasta can quickly spoil or lose flavour when exposed to air, light or moisture. Packaging for dry foods must therefore be airtight, light-proof and moisture-proof. High-quality packaging solutions that meet all these requirements usually consist of several layers of different materials. These composite materials are often difficult to recycle because they cannot be easily separated. Henkel’s cooperation with PT. Panverta Cakrakencana, one of the leading film manufacturers in Indonesia, has successfully provided a solution to improve the oxygen barrier performance of metallized cast polypropylene (CPP) to less than 0.5 cc/m².day and CPP with aluminum oxide coating (AIOx) films to less than 8 cc/m².day. The jointly developed innovations ensure that these vital oxygen barrier properties for dry food packaging can be achieved when switching from multi-material designs to mono-material polypropylene (PP). Marcus Hengky, Sales Manager at Panverta said: “Henkel has supported us throughout the entire process, from initial trials to ongoing production. Thanks to the collaboration with Henkel, we have been able to increase the added value of our product portfolio and now also appeal to brand owners who want to replace traditional multi-layer packaging with thinner and more efficient solutions made from a single material. In this way, we are making a valuable contribution to the circular economy in terms of a sustainable packaging industry.” New market opportunities with Loctite Liofol BC Range Henkel's contribution to the collaboration is the recyclable Loctite Liofol oxygen barrier coating. The Liofol product range offers significant benefits to film and packaging manufacturers, with both offline and inline coating options. Due to its excellent oxygen barrier properties, the coating enables a new packaging design using only one material. This reduces the amount of material used in food packaging without compromising quality and integrity. It is also certified recyclable by cyclos-HTP and recognized by the Association of Plastic Recyclers (APR) as meeting the Critical Guidance Protocol for PE films and flexible packaging. As mono-material packaging does not need to be separated into different components, the recycling quality is increased while the effort and cost of recycling is reduced. The oxygen barrier layer can be applied to OPP (oriented polypropylene) and PE (polyethylene) films at high machine speeds in excess of 150 to 200 meters per minute and a weight of less than 1 g/m² in both flexo and gravure printing processes, and is also characterized by excellent transparency. At Tokyo Pack 2024, the collaboration will be showcased at Henkel's stand 1C17 in the form of standing pouches and laminated reels, where packaging converters and brand owners can see, explore and evaluate the oxygen barrier performance.

A significant milestone was celebrated at Paddock School, an Ofsted-rated 'Outstanding' school in Wandsworth for children with severe learning difficulties. Work by contractor Willmott Dixon on its new expansion site to provide much-needed additional capacity has reaching the ‘topping out’ stage, which signifies completion of the building structure’s highest point. When complete in September 2025, it will provide more children in the borough and local area with access to education in a purpose-built environment, closer to their homes, friends, and families. The topping out was marked by pupils and teachers from the school, as well as representatives from Willmott Dixon. Executive Headteacher Sarah Santos said: “We are very grateful for the dedication and hard work of everyone involved in making this expansion possible. The enhanced facilities in the new school will give the pupils even more opportunities for an outstanding education. We are excited to welcome the students here in the 2025/26 academic year.” The expansion project has been eagerly anticipated and underscores the council's commitment to enhancing local education services. Councillor Kate Stock, Wandsworth Lead Cabinet Member for Children added: “As a Council, we are committed to ensuring that children with special educational needs have access to high quality local provision, keeping them close to their family and friends." “I am delighted that we have been able to relocate and expand Paddock secondary and sixth form school, enabling them to offer the high-quality education and care they already provide for their pupils, to many more children in Wandsworth who need this level of support. I am so pleased to see the project moving at pace and to be here today to mark the topping out of the site I, like the families it will support, look forward to the site's completion next year." Richard Poulter, Willmott Dixon’s managing director in the South, said: "We are proud to be part of this important project that will have a lasting positive impact on the lives of children with severe learning difficulties in Wandsworth. This topping out ceremony is a key milestone in our journey to build a facility that meets the highest standards of accessibility and quality. We look forward to continuing our close collaboration with Wandsworth Council as we bring this state-of-the-art learning environment to life." Updates on the project will be regularly provided through the Wandsworth Council website and other communication channels, keeping residents informed of the progress as the school prepares to open its doors.

Family Business United is delighted to have teamed up with multi-generational family business to offer a full travel management to family firms. Every business trip matters. That’s why we wanted a travel management partner who can meticulously plan each booking with specific needs in mind. The dedicated corporate travel team at Good Travel Management ensures a seamless door-to-door experience, reflecting their commitment to unparalleled, personalised service, appreciating the particular nature of each business they work with, working to individual budgets and specifications and always on hand to deal with any issues that may arise during the trip too. What The Travel Management Service Offers: Dedicated Support - All Your travel needs are handled by a team that understands the importance of personalised service. You’ll have a dedicated phone number, email address, and operations team for all your bookings. Comprehensive Travel Management - From planning to execution, they cover all aspects of your business travel and events. Their team of leading travel experts is dedicated to booking, managing, and optimising your business travel. Flexible and Cost-Effective Solutions - The team offer various, flexible payment methods to suit your business needs along with cost savings via a preferred supplier programme. Environmental Responsibility - As an operationally carbon-neutral company, they provide free CO2 reporting, helping you track and manage your carbon footprint with ease. Risk Management and Support - The team is available 24/7, 365 days a year, ensuring you’re always supported, no matter when or where. As Paul Andrews, Founder & CEO of Family Business United explains, "We are always looking at ways to add value to the members of our family business community and travel management services was an easy win for us to start with." "It is also important to us that we work with partners that understand the very nature of what being a family business is all about and hence the partnership with Good Travel Management who are not just another corporate Travel Management Company, they’re a sixth-generation family business that understands the unique needs of SMEs." "With over a century of experience in the travel industry, they bring the values of trust, integrity, and long-term vision to every journey they plan." Find out more about the partnership, book a meeting to learn more about how the service could help your family business or get a quote today here Find out more about the benefits of a travel management partner here:

Purpose has become a pivotal theme in today’s business discourse, particularly in the context of family firms. Family businesses, often characterised by their unique dynamics, long-term vision, and strong values, provide a rich backdrop for exploring how a clearly defined purpose can shape their identity, operations, and sustainability. Here we take a look at the meaning of purpose for family firms, its impact on various stakeholders, and its role in navigating challenges and seizing opportunities. Defining Purpose in Family Firms In the context of family businesses, purpose transcends mere profit generation. It encompasses a broader vision that aligns the family’s values with the firm’s operational objectives. This can manifest as a commitment to quality, community engagement, sustainability, or a dedication to employee well-being. A well-articulated purpose not only guides decision-making but also serves as a motivational force for family members and employees alike, fostering a shared sense of belonging and commitment. It is so important for those running a family business to know why they are there, want to be there and actually want to be in business with their fellow family members, and understand and appreciate the purpose of the business too. Building Legacy and Identity For many family firms, purpose is intertwined with legacy. Founders often establish businesses to fulfil a vision that reflects their values and aspirations, creating an identity that extends beyond the balance sheet. This sense of legacy can be a powerful motivator for subsequent generations, driving them to uphold and evolve the family’s mission. It reinforces the notion that the firm is not just a business, but a vital part of the family’s story, contributing to a collective identity that spans generations. Stakeholder Engagement A clearly defined purpose helps family firms engage with various stakeholders more effectively. Employees are often more motivated and productive when they understand how their work contributes to a larger mission. Customers, increasingly discerning in their choices, tend to gravitate toward businesses that demonstrate a commitment to values aligned with their own. Moreover, communities are more likely to support family firms that actively participate in social and environmental initiatives. Thus, purpose acts as a bridge, fostering meaningful relationships with stakeholders and enhancing the firm’s reputation. Navigating Challenges Family firms often face unique challenges, including succession planning, conflict resolution, and the balancing act of preserving family harmony while ensuring business growth. A strong purpose can serve as a guiding light during turbulent times. For instance, when navigating leadership transitions, a clearly defined purpose helps maintain continuity, guiding decision-making and minimising potential conflicts among family members. Moreover, in times of crisis, a strong commitment to purpose can inspire resilience and innovation, driving the firm to adapt and thrive. Innovation and Growth In a rapidly changing business landscape, family firms must remain agile and responsive to evolving market conditions. A well-defined purpose can fuel innovation by encouraging family members and employees to think creatively about how to fulfil their mission. This proactive approach can lead to the development of new products, services, or business models that resonate with customers and align with the firm’s core values, ultimately driving growth. The significance of purpose in family firms cannot be overstated. It is a foundational element that shapes identity, guides decision-making, and fosters stakeholder relationships. Family Business Examples Here are examples of purpose and mission statements from various family-owned businesses, showcasing how they articulate their values and aspirations: Cargill Mission Statement: "We nourish the world in a safe, responsible, and sustainable way." Purpose: As a family-owned enterprise for over 150 years, Cargill emphasizes food security and sustainability, showing a commitment to the global community and future generations. S.C. Johnson & Son Mission Statement: "We make life cleaner, healthier, and better for families." Purpose: This family-owned company emphasizes its commitment to creating household products that enhance quality of life, reflecting strong family values and community responsibility. The LEGO Group Mission Statement: "To inspire and develop the builders of tomorrow." Purpose: LEGO focuses on creativity and learning through play, reflecting a commitment to family and educational values that inspire future generations. Gallo Winery Mission Statement: "To deliver the highest quality wines while providing exceptional service and value to our customers." Purpose: Gallo Winery focuses on quality and customer satisfaction, demonstrating a commitment to family values and tradition while leading the industry. Wegmans Food Markets Mission Statement: "To help our customers live healthier, better lives through food." Purpose: Wegmans emphasizes customer well-being and community involvement, reflecting its commitment to quality, fresh ingredients, and exceptional service rooted in family values. These examples illustrate how family businesses craft purpose and mission statements that reflect their values, commitment to quality, and dedication to their customers and communities. Such statements not only guide their operations but also foster a strong sense of identity and connection with stakeholders. As family businesses navigate the complexities of modern markets, a clear and compelling purpose will not only enhance their resilience but also ensure that they remain relevant and impactful in an ever-changing world. Embracing and articulating this purpose is essential for family firms that aspire to thrive across generations, leaving a lasting legacy that reflects their values and aspirations.

Running a family business offers a unique blend of professional and personal rewards, but it also comes with its own set of challenges that aren’t typically found in other ventures. The deep emotional connections and shared history between family members often add complexity to the operation. For many, it is not just a business—it’s a legacy, a dream shared by generations. This feature dives into the critical issues that make or break family businesses, offering insight into how they can not only survive but thrive. One of the primary challenges in any family-run enterprise is balancing family roles with business responsibilities. Family members are often working closely with people who occupy dual roles in their lives—be it as a sibling, a parent, or a spouse—leading to potential complications. This dual relationship can blur the lines between personal and professional life, creating tension that may spill over into the business. It's easy to let personal disputes seep into business decisions or to overlook professional shortcomings because of familial ties. To avoid this, it’s important to establish clear boundaries, both in and out of the office. Successful family businesses often define precise job descriptions and accountability structures, ensuring that each member understands their role from a professional standpoint, without letting personal dynamics interfere. Another significant aspect of family business management is succession planning, a process that many family enterprises fail to address until it’s too late. As older generations prepare for retirement, questions about who will take the reins can create tension if not openly discussed. Succession planning isn’t just about naming a successor—it involves preparing the next generation to lead, transferring knowledge, and ensuring that the transition is smooth. By starting these discussions early, families can prevent power struggles or miscommunication. The most successful family businesses typically set up formalised leadership development programmes for younger members, providing them with mentorship and even external training. This allows future leaders to be well-equipped for their roles when the time comes, ensuring the potential for continued success of the business across generations. Conflict is inevitable in any business setting, but in a family business, the stakes are higher because of the personal relationships involved. Disagreements may range from differing opinions on the direction of the company to unresolved family issues that resurface in the workplace. These conflicts can sometimes feel more personal and emotional than they would in a typical business environment. Managing these disputes constructively is essential to maintaining both a healthy business and family dynamic. Many family businesses establish regular meetings, separate from day-to-day business operations, where family members can air grievances or address concerns in a safe, structured environment. Some families also seek outside consultants or mediators, who can offer neutral perspectives and facilitate difficult conversations without the emotional baggage that may hinder objectivity. Deciding whether to hire family members exclusively or to bring in external talent is another critical consideration for family businesses. While there is often an inclination to keep things “in the family,” relying solely on internal talent can sometimes limit the company’s growth potential. Outsiders can bring new ideas, specialised skills, and a fresh perspective that may not exist within the family unit. On the other hand, involving non-family members can lead to concerns about loyalty or trust. Striking a balance is key—family members can retain key leadership roles while bringing in external experts for areas that require additional knowledge. Some family-run companies create clear hiring policies to avoid perceptions of nepotism, ensuring that both family and non-family employees are held to the same standards of performance and merit. The emotional connection that family members feel towards their business can be one of its greatest strengths but also one of its greatest liabilities. Family businesses often carry an emotional weight that goes beyond financial success. These businesses represent heritage, pride, and the dreams of previous generations. This emotional investment can drive members to work harder and stay committed through tough times. However, emotions can also cloud judgment, making it difficult to make hard, rational business decisions when needed. For example, a family may struggle with the idea of downsizing or selling off parts of the business, even if it’s the best course of action for the company’s survival. It is essential for family business leaders to balance their passion for the business with the practicalities of running a successful company, ensuring that emotional ties don’t lead to poor decision-making. Preserving the family legacy while staying competitive in a rapidly changing business landscape presents another challenge. Family businesses often take great pride in their history, traditions, and values, which can be a powerful marketing asset and a point of differentiation from their competitors. However, this attachment to the past can sometimes prevent the business from evolving. Companies that succeed in the long term are those that manage to strike a balance between honouring their heritage and embracing innovation. Allowing younger generations to introduce new ideas, technologies, and business models is vital for the continued relevance of the company, but this must be done while maintaining the core values that define the family brand. On the legal and financial front, family businesses face distinct issues, particularly in terms of ownership, equity distribution, and estate planning. Often, disputes arise over how shares are distributed among family members, especially if some members are more involved in the day-to-day operations than others. Without a well-defined governance structure, misunderstandings can lead to rifts that are difficult to heal. Many family businesses address this by drafting a family constitution, which sets out the rules for decision-making, ownership, and profit distribution. Involving experienced legal and financial advisors who specialise in family businesses can help navigate the complex landscape of tax laws, inheritance issues, and business continuity planning, ensuring the company remains stable. At the heart of any family business is trust, and fostering a culture of open communication is vital to maintaining that trust. A lack of communication can lead to misunderstandings, resentment, and conflict, which can tear both the family and the business apart. Many successful family businesses establish a regular rhythm of meetings where key family members gather to discuss not only business matters but also personal concerns. These gatherings provide a platform for feedback and allow the family to address potential issues before they become major problems. Trust is also built by allowing younger generations to take on responsibility and by being transparent about major decisions that affect the future of the business. In reality, family businesses are more than just economic ventures—they are deeply personal endeavours that intertwine the fate of both the family and the company. They require a delicate balance between maintaining family harmony and ensuring business success. By establishing clear roles, planning for succession, managing conflicts constructively, and embracing innovation while preserving tradition, family businesses can not only survive but prosper for generations to come. These unique enterprises have the potential to build legacies that last far beyond their founders if managed with care and foresight.

The leader of a Dorset business is to climb the highest peak in the country to raise money for charities his later father supported. Nick Douch is also taking wife Donna and daughters Lakeisha and Tamika to the summit of Scafell Pike in the Lake District. The family are raising money for the Rotary clubs of Wimborne, and St Lucia in the Caribbean – both of which were supported by Nick’s father Peter who died last year. Douch Family Funeral Directors has seven branches in Dorset offering comprehensive funeral services, thoughtfully designed ceremony rooms, flexible pre-paid funeral options, and compassionate bereavement support to care for families during difficult times. Peter, who met his wife in St Lucia and was chairman of the family business until shortly before he died, was active in both Rotary clubs and they are the business’s charity for the year. Scafell Pike is 3,209ft high (978m) and takes three-to-four hours to climb and on average two people die each year attempting it. Nick said: “Colleagues have done some wonderful fundraising to support the two Rotary clubs and I was keen to do something with my family. We have climbed several peaks before but we’ve never attempted the highest in the country, which will be quite a task. However, we’ll be motivated by the thought that we’ll be raising money for two good causes.” To make a donation to the family which are ascending to the peak on October 19 donate . Photo: Peter Douch, left, and son Nick

Leeds-based fifth-generation luxury bedmaker, Harrison Spinks, has been awarded ‘Bed Manufacturer of the Year’ at the 2024 National Bed Federation Awards. The family-owned bedmaker secured the prestigious award for its continued product-related initiatives and development, after previously winning the same accolade at the NBF Awards in 2022. The judges commended the business for its financial performance, its revised export strategy and the retelling of the Harrison Spinks story and brand ethos, as well as its commitment to sustainability, including the company’s focused environmental achievements, helping it earn a third King’s Award for Enterprise. Nick Booth, Managing Director at Harrison Spinks said: “We’re delighted to win this highly respected award once again, which couldn’t be done without a fantastic team effort and everything that goes on behind the scenes at Harrison Spinks." “It’s incredible to get this recognition for all our hard work, and winning this is a testament to what goes into making each and every bed that Harrison Spinks produces, from the expert craftsmanship that goes into hand-stitching our mattresses and sewing each piece of fabric, to the unwavering commitment to product innovation and development – and of course, manufacturing everything responsibly and sustainably. This is why we believe we are cut from a different cloth." “Achieving this win for Bed Manufacturer of the Year is an acknowledgement of our standing in the luxury sustainable sleep market, while still maintaining our ethos of using responsibly and ethically sourced natural materials, allowing each product to be recycled at end of life and ensuring exceptional quality for our customers.” At the stand, the company showcased 15 completely new handcrafted Harrison Spinks models, including a special Limited Edition Pearl mattress to celebrate 30 years of its iconic Bed Tailor collection, all featuring the brand’s homegrown hemp and 100% recyclable Cortec™ spring systems. "Alongside these, three new luxury Somnus mattresses were on display, as well as a brand-new collaboration of headboard styles in a range of exclusive fabrics designed by Patrick Grant, designer and judge of BBC’s The Great British Sewing Bee." The luxury bedmaker also served drinks from its ‘Ha Ha Baah’ pop-up bar relocated from the Harrison Spinks farm, and gave out its own tote bags, woven in-house from its homegrown hemp. Harrison Spinks was also recently awarded a King’s Award for Sustainable Development, adding to its two current King’s Awards for Innovation and International Trade, and previously held Queen’s Awards, bringing the total number achieved by the company to eight.