The UK Innovation Corridor (UKIC), an economic region of global significance joining two of the country’s most productive cities, London and Cambridge, has announced that Willmott Dixon has agreed a three year commitment to become a strategic partner. Willmott Dixon will now take their place on the Board of UKIC alongside the 15 local authorities and six universities currently represented, creating a powerful collaboration of the public and private sector driving innovation, growth and cohesion across the region. The announcement of Willmott Dixon’s partnership with the UKIC coincided with the publication of the UKIC Growth Plan which demonstrates that the region is on course to almost double the size of its economy, growing from £189 billion to £350 billion by 2050. Commenting on the new relationship with Willmott Dixon, Jackie Sadek, chair, UKIC, explained that UKIC’s ambition had long been to establish a “ground up” partnership with the private sector. She added: “As one of the region’s largest privately-owned companies, we are delighted to welcome Willmott Dixon as a strategic partner of UKIC and our first private sector partner. Their commercial acumen and particular expertise in development will prove invaluable as this region looks towards a period of rapid growth.” Hitchin based Willmott Dixon, established in 1852, has its roots in Cambridgeshire and Hertfordshire, local to the UKIC region. A recent King’s Awards for Enterprise winner for sustainable development, the company has completed numerous projects in the region, including educational projects such as the Department of Materials Science & Metallurgy for the University of Cambridge and the European Bioinformatics Institute, Cambridge. Current projects include building a new head office for Hertfordshire Constabulary in Welwyn Garden City as well as a number of mixed-use regeneration developments in London. Speaking at UKREiif in Leeds, Stewart Brundell, Managing Director at Willmott Dixon for North London and the Northern Home Counties, explained that the company’s new relationship with the UKIC underscored the company’s commitment to connectivity, partnerships and seeing the region grow and prosper. Stewart stressed the need for businesses to leverage their collective strengths and learn from one another. “In this complex, fast moving and volatile world, no individual business can resolve the challenges that we have alone”, he commented. Stewart explained that Willmott Dixon viewed themselves as enablers, bridging the gap between public and private sectors, a role which he saw becoming increasingly important. Their aim was to foster an environment where “collaboration can thrive and innovation can flourish.” Stewart added that Willmott Dixon was looking forward to helping the UKIC drive forward a future of shared success and innovation.

With the General Election a matter of weeks away, the focus is firmly on the UK economy. The latest CBI economic forecast points to encouraging signs that it is on track to gradually pick up steam over 2024 and 2025. After a strong start to the year, momentum will continue with GDP growth in 2025 anticipated to reach 1.9%. The economy has struggled in recent years under the pressures of economic shocks such as the COVID-19 pandemic and Ukraine war. GDP growth came in at only 0.1% over 2023, with the dual headwinds of high inflation and increased interest rates weighing on economic activity. The CBI's latest UK Economic Forecast shows that: UK GDP growth is projected to rise to 1.0% in 2024. Momentum should continue in 2025, with GDP growth anticipated to reach 1.9% - broadly in line with the average pre-COVID growth rate (of 2.0% between 2010-19). Consumer spending is the main driver of growth, reflecting an improvement in households' real incomes as inflation falls. Business investment is set to be weak in 2024 but will recover as GDP growth strengthens. However, productivity remains below its pre-COVID trend, signalling further action is needed to spur longer-term, sustainable growth. Louise Hellem, CBI Chief Economist, said: "It's encouraging to see that the outlook for the UK economy is improving after a difficult 2023. However, we cannot afford to be complacent about our progress going forward. To ensure longer-term, sustainable growth, we must tackle our ongoing productivity problem." "Our Business Manifesto sets out several policies to improve productivity and deliver prosperity through a positive vision for the UK economy. These include a cutting-edge trade and investment strategy, a Net Zero Investment Plan, and more support for firms to invest in AI - particularly where it can help in automation and super-charging productivity." "Now in the midst of a General Election, political parties have an opportunity to prioritise the economy and unlock long-term, sustainable growth by using their manifestos to set out measures that will support business investment and propel growth for the next decade and beyond." The Economic Forecast in detail shows: Consumer spending is set to drive UK growth Consumer spending is projected to be the main driver of the acceleration in GDP growth over our forecast, rising by 0.8% in 2024 and 2.5% in 2025. This mostly reflects improvements in households' real incomes, due to falling inflation and firm wage growth. Nevertheless, households will feel the pinch this year from the cumulative increase in the level of prices over the last three years, in addition to still-relatively higher lending rates. Business investment sees a recovery in 2025 Business investment is set to be weak in 2024, declining by 0.2% over the year. This reflects the lagged impact of stagnant GDP growth over the last year. Our surveys also suggest a drag from high interest rates. However, a recovery in business investment is on the horizon (1.8% growth in 2025), as activity strengthens. Inflation expected to settle at the Bank's 2% target next year Inflation is projected to decline to the Bank of England's 2% target in the second quarter of 2024 but will pick up slightly in the latter part of this year (due to base effects from price rises this time last year). In 2025, inflation is expected to return to 2% more sustainably, partly reflecting a moderation in domestic price pressures. Bank Rate projected to fall to a terminal rate of 3.5% in 2025 Signs of easing inflationary persistence mean that we expect the Bank of England to cut interest rates over our forecast, with the first reduction likely to occur in August. We then expect the Bank Rate to gradually fall to a terminal rate of 3.5% in the second quarter of 2025. Fiscal headroom limited Our forecast for stronger GDP growth means that the public finances outlook has improved, but the next government will still face a difficult fiscal inheritance. We expect the debt-to-GDP ratio to peak at 98.3% in the 2024/25 fiscal year, before declining somewhat to 94.8% in 2025/26. Productivity outlook remains challenging Despite the pick-up in GDP growth, productivity (measured as output per worker) remains around 1.5% below its pre-COVID trend at the end of our forecast period. This highlights that there clearly is more to be done to boost the UK's potential for growth over the long-term.

In the bustling landscape of the UK's business sector, family-owned enterprises stand out as pillars of strength, not just economically but also socially. These businesses, often passed down through generations, play a significant role in shaping the local communities they operate in throughout the nation. Preserving Tradition & Heritage Family businesses are often deeply rooted in tradition and heritage, carrying forward legacies that span decades. In a rapidly changing world, these businesses serve as guardians of cultural values and practices, preserving a sense of identity that resonates with the local community. By upholding time-honoured practices and values, family businesses contribute to the cultural richness of their surroundings, fostering a sense of continuity and belonging among residents. Fostering Personal Relationships One of the defining features of family businesses is the emphasis on personal relationships. Unlike larger corporations, family-run enterprises prioritise building close connections with their employees, customers, and suppliers. This personalised approach creates a sense of trust and loyalty within the community, strengthening social bonds and promoting a collaborative environment. In an era of digital transactions and faceless corporations, the human touch offered by family businesses is a refreshing and valuable asset. Supporting Local Economies Beyond their cultural and social contributions, family businesses play a crucial role in supporting local economies. By sourcing goods and services from nearby suppliers, employing local residents, and reinvesting profits back into the community, these businesses stimulate economic growth at a grassroots level. The ripple effect of this support extends beyond the business itself, benefiting other local businesses and creating a cycle of prosperity that uplifts the entire community. Commitment To Sustainability & Long-Term Growth Family businesses are often characterised by a strong sense of stewardship and a focus on sustainability. With a view towards long-term growth rather than short-term gains, these businesses prioritise responsible practices that benefit both the environment and the community. By investing in sustainable initiatives, such as reducing waste, energy conservation, and community engagement, family businesses demonstrate their commitment to creating a positive impact that extends far beyond their immediate operations. Building Resilient Communities In times of crisis or uncertainty, family businesses often serve as anchors of stability within their communities, something that very much came to the fore during the pandemic. Their ability to adapt quickly, make nimble decisions, and prioritise the well-being of their employees and customers can make a significant difference during challenging times. Whether it's providing support to local charities, sponsoring local sports teams, volunteering, offering employment opportunities during economic downturns, or simply being a reliable presence in the neighbourhood, family businesses contribute to building resilient and thriving communities. Undeniably, the impact of family businesses in the UK goes far beyond profit margins and market share. These businesses are integral to the social, cultural, and economic well-being of the communities they call home. By preserving tradition, fostering relationships, supporting local economies, prioritising sustainability, and building resilience, family businesses play a vital role in shaping a prosperous and harmonious society. Next time you encounter a family business in your community, take a moment to appreciate the rich tapestry of benefits they bring to the fabric of our society. In the diverse landscape of the UK's business ecosystem, family businesses emerge as community builders, contributing not just economically but also socially and culturally. Their commitment to tradition, personal relationships, local economies, sustainability, and resilience makes them invaluable assets to the communities they serve, enriching the lives of residents and stakeholders alike.

Ringway has hailed the impact of its first fully electric highways maintenance vehicle, six months after reaching UK’s first agreement with leading UK manufacturer Econ Engineering. The E-QCB (Electric Quick Change Body) was purchased at the start of this year following a successful trial and evaluation period, and has been put to work across the different Districts in the County of Hertfordshire. Responsible for managing over 43,300kms of the UKs highways network, Ringway is the first within its sector to pilot and then put into fleet fully electric vehicles, where viable, and has praised both the performance and reliability of its new Econ acquisition. Mitesh Solanki, Managing Director at Ringway, comments: “Given the growing importance of the Environment in our sector, we are keen to promote the adoption of electric vehicles within our business where we can." "After evaluating available options, we determined that the E-QCB solution on a Volvo 19.0t chassis, would provide the greatest flexibility and emerged as an ideal platform, allowing us to pioneer a unique vehicle in the UK, further advance our learning in zero tail pipe emission commercial vehicles and transition away from diesel fuel.” The first completely electric vehicle of its kind on the market, the E-QCB utilises the very latest in sustainable technology without diminishing performance, and with no exhaust gases produced, can be utilised in zero emission zones and where there is appropriate depot HGV EV charging. Its QCB technology enables the bodywork to be switched between gritter, tipper or caged body modes, with easy transformation taking no longer than 15 minutes by a single operative, delivering flexibility as well as sustainability to any highways fleet. The vehicle comes with alternative battery configurations to allow optimisation of range and payload, it can be fully charged in less than two hours (subject to infrastructure), runs near-silent with a range of up to 170 miles (depending on load and road conditions). Delivering more than 85% of the UKs winter maintenance and highways vehicles, Yorkshire-based Econ Engineering supplies gritters, hot boxes and tippers to hundreds of local councils and contractors, spanning the length and breadth of the UK. Managing Director, Jonathan Lupton comments: “Econ has enjoyed a long-term strategic fleet partnership with Ringway and we were delighted when they took the bold decision to go electric with delivery of the very first E-QCB." “Having been thoroughly tested and trialled over the last 18 months, we were confident that it would stand up to the every-day rigours of being put to use out on the UKs highways, but to receive such a ringing endorsement from Ringway is testament to the hard work and skill that our team has put into this project.” Ringway also announced last week how its Hounslow Highways team had taken delivery of the UK’s first 26-tonne Volvo FE Electric 6x2 rigid, featuring a tipper grab body and low entry cab developed by The Thompsons Group. The Ringway Volvo FE Electric directly replaces a similarly sized diesel vehicle in the Hounslow fleet, ensuring an immediate sustainability benefit, and will be deployed on various highway and street service works across the urban London Borough.

Vellayan Subbiah, Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd., was named the EY World Entrepreneur Of The Year™ 2024 at an award ceremony held in Monaco's Salle des Etoiles. Vellayan was selected from among nearly 5,000 program participants that included 51 winners across 47 countries and jurisdictions competing for the global title. He is the fourth winner from India in the award's 24-year history. Vellayan is a transformative business leader with an ambition to change the trajectory of his country, his companies and his people. His professional journey, which began as an engineer and then a strategic consultant, shifted towards entrepreneurship when he started taking over leadership roles in his family's business nearly 15 years ago. Vellayan first successfully navigated Chola through the fallout of a troubled partnership amid a global recession, ultimately becoming the company's Chairman and growing its market capitalization 60x over the course his tenure. Starting in 2018, he took on leadership of TII, a 70-year-old manufacturing company, and began to transform the entire business through investment reallocation and acquisitions. Since taking over he's helped TII's share price grow 13x. TII's subsidiary, CG Power has just commenced building India's first outsourced semiconductor and test facility. Beyond his great business success, Vellayan has been unwavering in his commitment to sustainability and community welfare, driving initiatives that have propelled his companies towards significant environmental and social milestones and set new standards for corporate responsibility. Carmine Di Sibio, EY Global Chairman and CEO, says: "Vellayan possesses all of the qualities one looks for in an entrepreneur. The impressive growth of the businesses he's led have been remarkable, but his story goes far beyond numbers." "His humble and personable approach to leadership and his philosophy of enabling others to 'enter a better life' are the embodiment of what it means to be EY World Entrepreneur Of The Year. He also has an exemplary track record on giving back through education scholarships, health innovations and environmental stewardship. Congratulations to Vellayan, a truly deserving world winner." Vellayan Subbiah, Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd., says: "I am deeply honored and grateful to be recognized as the EY World Entrepreneur Of The Year. As part of a fourth-generation family business, the spirit of entrepreneurship runs deep within me, and I continue to be equally inspired by those who came before and those who follow." "I'm steadfast in my belief that by approaching challenges as opportunities and committing ourselves to a path of self-improvement, there's no limit to what we can achieve. Thanks to my incredible colleagues who have made it all possible and I hope to further the legacy of past winners of this great award by continuing to elevate others along the way throughout my entrepreneurial journey." The EY organization hosts the annual World Entrepreneur of the Year event to celebrate the accomplishments of visionary leaders who are transforming industries, growing the economy and answering the call to address global challenges. The annual gathering brings together founders, CEOs and business leaders for a series of networking opportunities and workshops, culminating with the winning announcement. The EY World Entrepreneur of the Year 2024 was chosen by an independent panel of judges against four criteria: entrepreneurial spirit, purpose, growth and impact. This year's panel included a diverse and esteemed group of entrepreneurs from all over the world, chaired for the second consecutive year by Hernan Kazah, Co-founder and Managing Partner, Kaszek Ventures.

In many family businesses around the world, one fundamental element stands out as a driving force behind long-term success: empathy. In businesses where relationships, legacy, and tradition combine and relationships can be complex, the practice of empathy can be the cornerstone that sustains and propels these businesses forward. For many of these businesses empathy is not just a soft skill but a strategic tool necessary for the enduring prosperity of the family firm. Empathy in a family business context goes beyond just understanding the market or industry trends; it involves grasping the intricate human dynamics at play within the family unit and the business itself. By fostering empathy among family members, conflicts can be resolved more effectively, communication improved, and trust strengthened. This heightened emotional intelligence can lead to smoother decision-making processes and a more harmonious work environment. Furthermore, at the heart of every family business are the relationships that bind its members together. Empathy cultivates understanding, patience, and compassion, essential ingredients for nurturing these relationships. When family members feel heard, valued, and supported, trust flourishes, creating a solid foundation for collaboration and innovation within the business. This trust extends not only to family members but also to employees, clients, and stakeholders, fostering a culture of mutual respect and integrity. It is this that for many actually defines the very essence of what family business is all about. Empathy also plays a critical role in shaping the interactions between the family business and its customers. By putting themselves in the shoes of their clients, family businesses can better understand their needs, desires, and pain points. This empathetic approach enables them to tailor their products or services to meet customer expectations more effectively, leading to higher satisfaction levels and long-term loyalty. In a competitive market, the ability to empathise with customers can be a significant differentiator for family businesses seeking to stand out. Conflict is inevitable in any family business, given the nature of personal and professional relationships. However, empathy can serve as a powerful tool in resolving conflicts constructively. By approaching disagreements with understanding and empathy, family members can navigate challenging situations with empathy, finding mutually beneficial solutions and fostering an environment conducive to innovation and growth. The ability to adapt to change is paramount for long-term success. Family businesses that practice empathy are more attuned to the needs of their stakeholders and better equipped to anticipate shifts in the market. By embracing change with empathy, these businesses can pivot effectively, seize new opportunities, and stay ahead of the curve in an increasingly competitive environment. Ten reasons why empathy is crucial for the long-term success of family businesses: Strengthened Relationships : Empathy helps build strong, trusting relationships among family members, essential for a harmonious working environment. Conflict Resolution : Understanding each other's perspectives and emotions can lead to more effective and amicable resolution of conflicts, which are common in family businesses. Enhanced Communication : Empathy fosters open and honest communication, ensuring that all members feel heard and valued. Employee Satisfaction : Demonstrating empathy can lead to higher levels of employee satisfaction and loyalty, which is vital for retaining talented non-family employees. People want to feel that their voices are being heard. Customer Relations : Empathetic leadership often translates into better customer service, as empathetic leaders are more likely to understand and meet customer needs effectively. Adaptability and Innovation : An empathetic environment encourages collaboration and innovation, as team members feel safe to share ideas and take risks. Succession Planning : Empathy is crucial in succession planning, ensuring that transitions are smooth and that successors are well-prepared and supported. Work-Life Balance : Understanding and respecting the personal needs and boundaries of family members and staff help maintain a healthy work-life balance, reducing burnout and increasing productivity. Cultural and Value Alignment : Empathy helps in aligning the business culture and values, which is vital for long-term cohesion and sustainability. Emotional Intelligence : Leaders with high emotional intelligence are better equipped to handle the complexities of family dynamics, making more informed and compassionate decisions. Empathy is not just a moral virtue; it is a strategic imperative for family businesses looking to thrive in the long run. By fostering empathy within the family unit, nurturing relationships, enhancing customer experience, resolving conflicts, and embracing change, family businesses can create a culture of empathy that fuels their success and sustains their legacy for generations to come. In a world where human connection is more important than ever, empathy reigns as the key to unlocking the full potential of family businesses worldwide. In family businesses, empathy emerges as a powerful force that drives sustainable success and harmonious relationships. By recognising the value of empathy and incorporating it into their business practices, family enterprises can create a cohesive environment that fosters innovation, collaboration, and long-term prosperity. For many family firms, the transformative power of empathy can be seen as a guiding principle for a brighter future.

Perdue Farms has awarded a $20,000 grant to Diakonia Inc. in Ocean City, Maryland, through the Franklin P. and Arthur W. Perdue Foundation as part of its commitment to improve the quality of life in its communities. The funding helps Diakonia purchase a new van to provide transportation for its residents, including veterans. Jim and Jan Perdue provided additional financial support. The donation from Perdue’s charitable giving arm is part of the company’s Delivering Hope to Our Neighbors® initiative to build strong communities. Ken Argot, Diakonia executive director said: “This gift from Perdue is extremely serendipitous in that our current minivan was just pronounced ‘no longer serviceable’ by our local mechanic and had to be removed from our fleet. Argot said Diakonia works with veterans to ensure they have access to healthcare, housing and employment. The van will be used to transport them to their appointments when necessary. “Perdue has been a great support to our community, and Diakonia is so grateful for their partnership in providing help for today and hope for tomorrow,” he said. Since 1972, Diakonia has been helping men, women, and families in Worcester County by providing emergency housing food assistance, and resources to help them get back on their feet. Over the past 10 years, Diakonia has expanded its services to include case management, housing assistance, homeless prevention, and veteran services. Kim Nechay, executive director of the Perdue Foundation, said Diakonia provides vital resources to the community, especially veterans. “This organization is giving people the ability to get back on their feet,” she said. “Perdue is happy to support Diakonia and its noble mission.”

Establishing boundaries is a cornerstone for the enduring success of family businesses, serving as a vital mechanism for navigating the complex interplay between personal relationships and professional responsibilities. These boundaries provide much-needed role clarity, ensuring that each family member understands their specific duties and can be held accountable. This clarity is essential in preventing overlaps and confusion, fostering a more structured and efficient operation, especially given the very nature of family dynamics and the various roles that family members have to play. Professionalism within a family business is often a delicate balance. Boundaries help maintain this professionalism by promoting decisions based on the business’s best interests rather than familial ties. This objectivity is crucial in preventing nepotism, which can otherwise breed resentment and inefficiency, thus allowing the business to operate on a fair and equitable basis. Conflict resolution is another critical area where boundaries prove invaluable. Family businesses are uniquely challenged by the intersection of personal and professional lives, often leading to conflicts that are difficult to navigate. Clear boundaries separate these spheres, enabling conflicts to be addressed through established business processes rather than being muddled by personal dynamics. This separation is key to preserving both family harmony and the integrity of the business. Sustainability and growth hinge significantly on a culture of meritocracy and competence, which well-defined boundaries help cultivate. By setting clear expectations and performance metrics, family businesses can ensure that promotions and opportunities are based on merit. This meritocratic approach not only drives growth but also ensures the business is led by the most capable individuals, preparing it for future challenges. Additionally, maintaining a healthy work-life balance is critical for the well-being of family members involved in the business. Without clear boundaries, work-related stress can easily permeate personal relationships, leading to burnout and strained dynamics. Boundaries ensure family members can contribute effectively to the business while enjoying quality time with loved ones, thus safeguarding personal well-being alongside professional success. Succession planning, a pivotal aspect of long-term success, also benefits from well-defined boundaries. Effective succession involves grooming the next generation based on skills and potential, not just familial connections. Clear boundaries ensure this process is transparent and fair, facilitating a smooth leadership transition and the ongoing success of the business. Governance and legal compliance are further areas bolstered by boundaries. They enable the establishment of governance structures like boards and advisory committees, providing essential oversight and strategic guidance. This structured approach helps navigate complex legal landscapes, mitigating risks associated with non-compliance and ensuring the business adheres to regulatory requirements. In essence, boundaries in a family business are about much more than preventing conflicts or ensuring operational smoothness; they lay the foundation for long-term success. By balancing personal and professional interests, fostering fairness and competence, and preparing for sustainable growth and leadership transitions, boundaries ensure that family businesses can thrive across generations while preserving both family unity and business excellence.

Two projects completed by global engineering steel specialist, William Hare Group, have been recognised with prestigious Tekla BIM Awards. The London-based works at 40 Leadenhall Street and Maggie’s at The Royal Free Hospital were named among the winners of this year’s UK awards and will now go through to compete at the global finals later this autumn. As a leader in engineering software, Tekla’s awards recognise the very best projects to have utilised its Building Information Modelling technology to support the design process through state-of-the-art computer-generated models. William Hare Group, which continues to play a key role in the supply of steel solutions for major London construction projects, won the public vote for the 40 Leadenhall Street building, while Maggie’s at The Royal Free Hospital was named as the public projects winner. Described as resembling a skyscraper in the fantasy comic world of Batman’s Gotham City, 40 Leadenhall Street is one of the largest buildings to have ever received planning permission in the City of London. The £225m scheme, which saw William Hare collaborate with Mace, WSP, Make and Focchi, includes a stepped design cascading down towards the River Thames and is seen as a ‘destination office’ that can entice workers to switch back from home-working post-Covid. Judges’ comments included: “This project was impressive, because of its sheer scale. So much detail went into the design of this 34-storey steel frame superstructure, effectively using BIM for complex curved structural elements." “This elegant high-rise structure is a very striking design with a tonne of character, and has transformed the London Skyline." Maggie’s at The Royal Free Hospital was a smaller job in size, but was still highly regarded by the judges for its impressive use of technology to overcome complex design issues. Working with Sir Robert McAlpine, Expedition, Magma Architecture and Studio Libeskind, the £8m project was made possible through charitable donations of time and materials. Situated in the grounds of the Royal Free hospital in London, the newest Maggie’s cancer support centre showcases a custom raking curved facade, distinctive external fins, and a secluded rooftop garden and pavilion. Its complexity demanded a more integrated approach than usual, including an enhanced use of the 3D resources available within Tekla software.   William Hare Group Board Director, Matthew Nesbit, comments: “Tekla’s BIM technology was crucial to us in the design and delivery process. The Maggie’s project was a special one for William Hare as it was charitable in nature; having the opportunity to contribute so strongly to the support of anyone with cancer or their families has been an invaluable opportunity for the team involved.” William Hare Group was established in 1945 and provides value-engineered steel solutions to some of the world’s most innovative and sustainable construction projects. A family-owned and run business, it has a turnover of c£300 million and employs 2,000 people worldwide.

The Allied Vehicles Charitable Trust is proud to announce the allocation of funding to three remarkable community projects: SENSORIAL, CREATE Paisley, and The DASH Club. These organisations serve individuals with unique and additional support needs in their communities. SENSORIAL has been awarded £1,500 to continue their ‘KIWI Sensory Art & Play Club’. This free after-school club caters to children with complex special needs in Sighthill, North Glasgow, an area facing significant socio-economic challenges. The club provides a safe, sensory-rich environment where children can explore and create with the support of their parents, carers, and art tutors. Normally operating during term time in the hours after school, this funding ensures the continuation of the service through the summer months, when schools are closed. Consuelo Servan, SENSORIAL Director, expressed her gratitude: "This award comes at a crucial moment for our project. The funding will allow us to continue our sensory after-school activities through the summer." "These activities are vital for the development and well-being of the young people we serve, providing them with engaging, hands-on experiences that stimulate their senses and foster their cognitive, social, and emotional growth. We are excited about the positive impact this will have on our community and are committed to making the most of this opportunity." CREATE Paisley has been granted £1,150 to support their summer holiday programme, Go CREATE. This initiative is an extension of their core programme, CREATE Opportunities, which focuses on enhancing the mental well-being of young people in Renfrewshire through creative engagement. The Go CREATE programme will provide a variety of holiday-themed activities and day trips, offering vital support during the school summer holidays to young people facing poverty, social isolation, and deprivation. Lisa Doherty, Development & Operations Manager at CREATE Paisley, shared her excitement: "We are absolutely delighted to have Allied Vehicles' support for our summer programme, Go CREATE. This generous contribution will make a significant difference in providing a creative and enriching experience for the young people we support." The DASH Club, based in the Possilpoint Community Centre, North Glasgow, received £5,000 to expand their Sunday outings programme for young people with complex disabilities. The club offers a safe and friendly environment where young people can engage in social and recreational activities, reducing isolation and improving health and well-being. The additional funding will allow the club to take teenagers with complex support needs out on weekends, providing them with opportunities to have fun and feel part of the wider community. Mary Cuttle, Project Manager at The DASH Club, expressed her gratitude: "This grant from Allied Vehicles will enable us to take teenagers with high support needs out on the weekends to have fun with their friends, and to feel part of the wider community." "Many thanks from the DASH Club, its service users, and their families for funding our Sunday outings programme - it will make a huge difference to our young people." Gerry Facenna, owner and founder of Allied Vehicles Group, commented on the awards: "At Allied Vehicles, we believe in giving back to the community and making a positive impact, and we are pleased to support these outstanding organisations. Each one plays a crucial role in their community, providing essential services and enriching the lives of many young people with additional and complex support requirements.”

Perdue Farms, a fourth-generation, family-owned U.S. food and agricultural company, is pleased to announce the appointment of Perry Aulie as President of Perdue AgriBusiness, effective July 1, 2024. Aulie succeeds Scott Fredericksen, who is retiring from the Maryland-based company. Aulie, currently the Senior Vice President of Value-Added Products, has been with Perdue AgriBusiness since 2019. Under his leadership, the Value-Added Business has seen sales triple over the past four years, driven by his innovative approach and commitment to addressing the dual challenges of climate and food production. He has expanded opportunities for farmers and launched partnerships to pay growers for their carbon sequestration practices helping reduce greenhouse gas emissions. Kevin McAdams, CEO of Perdue Farms said: “Perry's leadership and vision have been instrumental in driving the growth of our Value-Added Business. His dedication to our farmers and innovative spirit align perfectly with our vision, and we are confident that he will continue to lead Perdue AgriBusiness to new heights.” A respected leader in the agriculture and food industries, Aulie has decades of experience working end-to-end in the value chain. He holds a Bachelor of Science degree in Agriculture and a Master of Science degree in Agriculture Economics from the University of Saskatchewan in Canada. Aulie is also an active contributor to industry and community boards, including The Institute of Shortening and Edible Oils and the TidalHealth Foundation Board. “I am honored to take on this new role and continue the legacy of growth and innovation at Perdue AgriBusiness,” said Aulie. “I look forward to working closely with our dedicated team of associates, farmers, and partners to drive sustainable success and deliver value to our customers.” Scott Fredericksen has led Perdue AgriBusiness since 2019. “We extend our deepest gratitude to Scott for his leadership and numerous contributions,” McAdams added. “His vision and commitment have significantly shaped the success of Perdue AgriBusiness, and we are fortunate to have had him at the helm.”

With almost 300,000 family businesses representing a staggering 83.9% of private businesses in Scotland, it is understandable that they are seen as the bedrock of the country’s growth. As major employers, families rely upon these entities for their living, and the income generated is ploughed directly back into our economy. Given the top 100 Scottish Family Firms generate circa £22.6 billion for the economy every year and employ over 874,000 people, Scottish family businesses can safely be described as a crucial source of growth and success for the Scottish economy across all sectors, including retail, food and drink, property and construction sectors. You may ask, what makes family businesses so unique? Although management dynamics play a role as they navigate relationships between the owners, family and business, the largest difference is the socio-emotional wealth that many of them have. These are the non-financial reasons for their existence. Family businesses are likely to place their priorities within the family. When asked about long-term goals in the PwC 10th Global Family Business Survey 2021 (PwC, 2021a), continuity for future generations appeared to be particularly important. Findings further indicated from the family firms that took part in the survey, that 82% of those said protecting the business as the most important family asset was a key aim. In addition, 65% reported that they wanted businesses to remain in the family, and 64% wanted to ensure a legacy was created. Other common reasons included the provision of employment for the local community, raising funds to support a charity or philanthropic activities. With continuity for future generations being one of the most prominent aims, it is important to think about how family businesses can plan for their future. The earlier you expose the next generation to the family business, the better, because it allows them to make an informed decision as to whether they want to get involved in that family business in the future. Quite often, the senior gen is surprised at the emotional attachment that the next gen has to the family business. They remember having family gatherings , pushing grandad round the factory in his wheelchair etc. Indeed, covid prompted many next gens to return to their family homes for lockdown, and as a result, got involved in the family business perhaps earlier than they may have done so. There tends to be a few triggers, that prompt family businesses to look for help and put formal governance in place. There are of course the usual prompts - death, divorce, the lack of a successor from the family to take over the family business. These are all important, and the most successful family businesses have formal governance in place before the family is put into a state of shock and emotion, which is always a tough environment in which to operate and make important decisions. Often a well organised family business may reach out for advice, when they have noticed that the family values instilled in their family, are not mirrored in the future partners of their kids. They see their children being influenced by these “outsiders”, to make decisions which would normally not be taken and so fail to align with their own family values. This circumstance is often the catalyst for family owners to start introducing governance that will protect the family business and its future from these outside influences. These may be shareholder agreements, who and when can become an owner of a family business, perhaps putting in place pre-nups or post-nups, or policies on employing family members. These are all used as means of protecting for the future and safeguarding against some of the more common triggers highlighted. Safeguarding – Generations – Prenups/Post nups. There is a general rise in those seeking advice about the protective measures which can be put in place to safeguard family business interests from a claim on separation or divorce, and death, particularly when a second marriage is involved. While Scots law provides a decree of protection to assets acquired before marriage, and inherited assets or those gifted to a party from a third party (gifts between spouses are matrimonial property) during the marriage, that is only the case if that gift or pre-marital asset remains in the same form. In other words, if assets are sold or realised, even for sound tax planning reasons, one could have inadvertently created matrimonial property where a claim can be made. The asset which could be considered matrimonial would be the value of that person’s shareholding at the date of separation, and possibly any directors loan account. With a partnership, it would be the value in their capital account and/or any retained profit. A significant point. Business interests by their very nature rarely remain static, they change over time. Shareholdings change hands. Business entities are restructured. It would be heart breaking for the family if one family member’s separation and divorce brought the business to its knees. A carefully worded pre or post nuptial Agreement can provide vital protection for any such transactions. With the right knowledge of a family business, an Agreement could be crafted to ensure it supports and protects the family business succession plans, so vital for a business’s successful continuance. Importantly, these agreements are binding, as long as the parties are consenting adults, and the provisions of the Agreement are lawful. It is recommended however that parties secure independent legal advice as far in advance of the wedding as possible before entering their pre-nuptial Agreement. It is also important to note that prenups have another important benefit by protecting a business from the untimely death of a family member. For so long as a couple are married, even separated, and until either a Minute of Agreement in full and final settlement is entered into or they divorce, it is possible for a surviving spouse to claim upon the moveable estate of the deceased. Depending on whether there are children, the claim would be to ½ or 1/3 of the net moveable estate. A pre or post nuptial Agreement, can include provision to discharge the right to make this kind of claim. If this inclusion is proven to create a difficulty and families truly view the protection of their business as the most important family asset, then careful succession planning measures are vital when safeguarding the family business for generations to come. About the Authors - This article was written by Kirsty Ross, a Director at Turcan Connell and her colleague, Lindsey Ogilvie who is a partner in the firm. Find out more about the work they do to support family businesses by visiting their website at www.turcanconnell.com