Leading UK plant nursery, Johnsons of Whixley, has provided £130k worth of plants for two luxury holiday park developments by Darwin Escapes, including a new self-catering retreat due to open on the Blenheim Palace Estate this summer. The Yorkshire-based horticultural business has been chosen as the primary supplier of plants for the project, which will see a collection of one, two and three-bedroom lodges constructed in the grounds of the historic Blenheim Palace Estate. The retreat will be the first venue of its kind on the grounds of a historic British palace. With a supply worth £100,000, Johnsons of Whixley has provided a diverse range of plants to enhance the outdoor areas of the Lodge Retreat, which is a blend of contemporary and traditional design in keeping with the Palace and its grounds. From Lavender, Euonymus and Hebe shrubs to vibrant Perennial plants including Rudbeckia, Geraniums, Iris and Salvia, the selection encompasses a rich variety of species, each carefully chosen to create a harmonious and captivating ambience. In addition to the Blenheim Palace project, Johnsons of Whixley is proud to have received a further order to supply the grounds of Plas Isaf Lodge Retreat, in North Wales, another recent project by Darwin Escapes, which opened its doors earlier this year. To date, the nursery has delivered plants worth £30,000 to Plas Isaf Lodge Retreat, encompassing a diverse range of species. The supplied plants include an assortment of hedging varieties, such as Acer campestre, Crataegus monogyna, Ilex aquifolium, Ligustrum vulgare, Pyracantha ‘Red Column,’ Prunus rotundifolia, Sambucus nigra, and Viburnum opulus. Johnsons of Whixley has a long-standing relationship with Darwin Escapes and has previously supplied plants for several of its notable projects, including Sandymouth, Woodside Beach, Keswick Reach Lodge Retreat, Canterbury Fields, Stratford Armouries, Norfolk Woods, and The Springs. Johnsons of Whixley marketing manager, Eleanor Richardson, said: “We are thrilled to continue our partnership with Darwin Escapes and to have the opportunity to supply both Blenheim Palace Lodge Retreat and Plas Isaf Lodge Retreat.” “Our team is dedicated to sourcing and supplying the finest quality plants, tailored to the unique requirements of each project to enhance the natural beauty and appeal of the landscape.” Lindsey Esse, Managing Director of Darwin Escapes added: “Johnsons of Whixley have once again supplied us with a beautiful range of plants which perfectly enhance the landscape of our two newest luxury lodge retreats”.

The Top Up Shop is a community-based initiative that runs each Saturday Morning throughout the year at various Ipswich locations. For the small cost of £2, customers can go to the shop and fill up a recyclable bag with goods to supplement their weekly shop. There are no qualifying conditions and no referral is needed: they welcome everyone. The shop has been running successfully for 7 years and caters for as many as 70 shoppers per week covering many postcodes with in the Ipswich area. To keep running the shop relies on donations from local supermarkets, grants and donations… which is where we are delighted to be able to step in. Pat Lewis, Source One chairman, comments: “I grew up on the Chantry estate in Ipswich, my Mum still lives there, and so getting the chance to provide some support to those that need it in the community is special to me.” “The Ipswich Top Up Shops is a brilliant and, sadly, a much-needed initiative with so many struggling in the UK with food prices. We are delighted to be able to give some financial donations to this initiative, particularly to the St Francis with St Clare, Hawthorn Drive, location where I went to discos in my youth!” The Peace Café In addition to the Top Up Shop, The Peace Café is another brilliant project that was launched to provide a warm space for those who were in the fuel poverty bracket. The idea was that it provides a warm space with hot food and drink to our customers. The café provides a lounge type atmosphere with comfortable seating coffee tables and side tables. There are newspapers to read, a jigsaw to do, a craft table, music playing board games etc. They also help people get access the internet for looking for jobs, housing or filling in forms. Since its launch, a community has developed among these people and friendships have been formed that may never have happened… as a result the café continued beyond the cold winter months as loneliness plays a big part in a person’s well-being. GPs are connecting with us and social subscribing is part of the success… hopefully helping the users to feel good about themselves and being aware of others in these uncertain times.

Beyond Encryption, the industry standard for secure digital communications, is now a Certified B Corporation. They join a growing group of companies that are reinventing business, by pursuing purpose as well as profit. Beyond Encryption is a secure software company, protecting and connecting businesses throughout the financial services industry and other aligning sectors. Beyond Encryption’s flagship product, Mailock, is a secure email solution that utilises encryption and ID authentication, giving organisations the tools they need to protect sensitive data when communicating with customers. Beyond Encryption has been certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit. The B Corp certification addresses the entirety of a business’s operations and covers the five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to reach a benchmark score of over 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity, and corporate transparency. Beyond Encryption is now part of a community of 6,279 businesses globally that have been certified as B Corps. The B Corp community in the UK, representing a broad cross-section of industries and sizes, comprises over 1,300 companies and includes well-known brands such as The Guardian, innocent, Patagonia, The Body Shop and Coursera. A recent focus on sustainability within financial services makes Beyond Encryption’s new B Corp certification a notable asset, as financial businesses consider the best way to digitise their services and meet their ESG propositions. Paul Holland, CEO and Founder of Beyond Encryption, says “In order to gain our B Corp certification, we had to meet a series of high-performance standards, demonstrating that we are acting mindfully and using our business as a force for good. Passing the assessment process has allowed us to join a community of extraordinary organisations that are all geared towards remaining forward-thinking and compassionate while creating a positive impact on the environment. Conducting ourselves authentically and committing to making a positive impact has always been a core value of Beyond Encryption, and the B Corp milestone just illustrates this further.” Chris Turner, Executive Director of B Lab UK, says “We are delighted to welcome Beyond Encryption to the B Corp community. This is a movement of companies who are committed to changing how business operates and believe business really can be a force for good. We know that Beyond Encryption is going to be a fantastic addition to the community and will continue driving the conversation forward”.

Let’s open up a discussion about family businesses — and what the future holds for them — by digging into the fundamental marriage between our personal and professional worlds. This will create the framework through which succession planning can be viewed realistically. In particular, let’s focus on how the challenges of the 21st century affect the family and the business. Each face changes in the wake of globalisation, international multiculturalism, workforce displacement, and disruptive technology. Change is the new status quo, and it brings a lot of distractions along with it. We should celebrate some of this change. In many ways, it is easier to start a family business than ever before thanks to swollen capital markets and the ability to reach customers around the world. The daughters of family businesses have more room than ever to step into the business world as leaders and entrepreneurs. Businesses are learning to be environmentally conscious and socially tolerant. On the other hand, families are fragmenting in unique ways. Children can, and often do, move far away from their homes and traditions. Holding the family together and promoting a common, proud family legacy is now a great challenge. International business competition is an omnipresent threat as well, whether from direct imports or foreign investment funds. Why Are These Things Important? The new trends in family business succession planning are caused by, or are reactions to, these external pressures. Some succession planning principles haven’t changed — things like the importance of communication and early planning or the need for a formal process. The old rules are still important bedrocks of good succession plans. The new trends, however, tend to speak to the challenges of our modern age. Trends That Matter To Succession Planning From a sociological and management point of view, there are a few dominant trends that matter to succession planning in family businesses: Ageing of family business executives; Rise in attrition among staff and future leaders; and Loss of family continuity. Family continuity is so crucial for multi-generational success in family business, and there is no quick fix for a family that’s lost its sense of shared history and pride. Harvard Professor John Davis summed the problem up well: “I do see this increasing sense of freedom in families that is good to some extent but also leads to a sense of fragmentation in the family’s purpose, and energy, and discipline… When you think about it, you know, parents even thirty years ago, certainly forty or fifty, had more influence in their children’s lives… and that is not the case today.” The families that best handle these challenges will be those that implement succession planning processes that adhere to best practices. Some of these are timeless. Others are specific to the modern era. Modern Best Practices — What Can You Do? We can’t cover every concept or procedure that you need in a well-developed succession plan, but these are some basics that will help you navigate the needs of the future. 1. Remember To Communicate Early And Often Healthy, honest, open communication should be at the core of virtually every healthy relationship, whether personal or professional. Family members and business partners need space to air grievances or share ideas. If you are a top-level business leader, it is imperative that you foster an environment where individuals can safely express emotions and discuss important topics. Create regular meetings around the board room and the kitchen table, share your visions, and ask for feedback. One more communication tip: include multiple generations. Let each generation feel heard. Use time together to build stronger family bonds. 2. Target Processes And Well-Defined Goals Succession plans should be in writing, and they should be created through a proven, shared process. We firmly believe in the value of a written family constitution, within which the process of cultivating talent and executing smooth transitions should be identified. These processes should clearly define what the goals of the business are, what the goals of the family are, and they should acknowledge that succession planning is a long evolution. This can’t be solved in a single meeting. Processes should be led by senior management and should emphasize non-traditional family structures. Modern family businesses are very diverse and often include separated couples, second spouses, step-children, and even close non-family members who are integral to the business’ success. 3. Establish a talent development programme You have to get out in front of attrition and the potential for disinterest among younger family members. Even if you already know that you want your son or daughter to take over someday, you still need to integrate them into the business effectively — and even prepare for the eventuality that they may not want the job. Look to outside talent. Make hiring and promoting decisions based on merit and experience. Make an effort to detect gaps in organisational talent and address them systematically.

The HE Simm Group is one of the UK’s leading engineering and services businesses and has doubled the size of its offsite manufacturing facility – ‘Pinnacle Offsite’ – after it opened just over 12 months ago to cope with an ever-expanding order book for MEP prefabricated solutions. The move has seen the company double the size of the facility in Walsall, in the West Midlands, to over 40,000 sq ft – following further demand. Pinnacle Offsite, which is led by Ernie Price, a prefabrication specialist with over 20 years’ experience, was launched off the back of continued and sustained need for prefabricated solutions from its UK-wide customers. Since it opened it has provided solutions for main contractor customers the length and breadth of the country, including packaged plant rooms, plant skid modules, MEP lateral and riser modules and prefabricated utility cupboards. Commenting on the news, Gareth Simm, HE Simm Group’s Chief Executive Officer, says: “The success we have seen over the last 12 months has been amazing. We have seen a distinct rise in demand from our customer base for prefabricated solutions.” “Our further investment in the facility and in the Pinnacle Offsite business overall proves our commitment to this offering for our customers, which will enhance what we provide as a leading MEP player.” Greg Simm, the Executive member of the Group responsible for Pinnacle Offsite, adds: “This really is very exciting. We’re delighted we’ve seen such a demand for this offering, so much so we’ve invested more money in it.” “Currently our offering is servicing our existing customer base, but now we have more space and over time, a bigger team, we might well sell our solutions directly to the market in the future.” “Well done to Ernie and all the team at Pinnacle for making the business such a success, we wouldn’t have got it to where it is without their dedication and commitment.”

Following the recent good news of a 100% renewable electricity supply across their UK-managed pub estate, Wells & Co. has taken another critical step on their sustainability journey via their partnership with energy solution specialists Technik2. Drawing on over 50 years of industry experience, Technik2 specialise in helping pubs, restaurants and other hospitality businesses to reduce their energy consumption and carbon emissions. Wells & Co. embarked on a trial of Technik2’s beer cellar automation technology in eight of their sites last autumn and were impressed by the results, so much so that a project to install the same equipment across the rest of their UK-managed pub estate is already underway. Exact figures will of course vary from one cellar to the next, but data from last year’s trail showed projected savings in the order of 6000-9000KwH per pub per year; roughly the same amount of energy that would be required to drive a car to the moon, and a significant decrease in consumption at a time when utility bills are at the top of every pub’s agenda. Nick Wells, Head of Estates for Wells & Co., elaborates: “Last year’s successful trial gave us the confidence that Technik2’s equipment could drive a real reduction in energy consumption in our beer cellars – and crucially, that it could do so without affecting the quality of a freshly-poured pint from our Brewpoint beer range. In a world of spiralling energy costs, there are currently few investments that promise such a strong financial return; combined with a win for the environment, it’s an opportunity that we at Wells & Co. are excited to grab with both hands.” Marc Harries, Sales Associate at Technik2, adds: “It has been excellent to partner with Wells & Co.; we have been delighted to assist with their sustainability journey, especially at a challenging time in the energy supply market. As Nick has said, this is both a genuine and rare opportunity to make a significant difference and we look forward to strengthening our partnership to further assist Wells & Co. in reducing their carbon footprint.” Nick concludes: “The next step for us will be to roll out Technik2 technology within our tenanted estate; we’re keen for our Pub Partners to benefit from these energy and financial savings just as our managed pubs have.”

A £3,500 donation from a Lake District hotel group has helped a local school complete the installation of a composting toilet and outbuilding alongside its sports field. English Lakes Hotels Resorts & Venues has been working with Beetham C of E Primary School on the project to build the composting toilet, with the donation adding to fundraising efforts to cover the installation costs. The addition of the outdoor composting toilet means that the school’s teachers can deliver a greater variety of lessons using the recreational field and for longer periods with minimal disruption when pupils need to go back into the main building to use the facilities. The project has also involved environmental and educational themes with the school working with English Lakes Hotels to certify the composting toilet under the Toilet Twinning partnership between development charities Cord and Tearfund. The facility will be paired with a purpose-built latrine in a third world country to give an overseas community access to clean water and sanitation. Beetham C of E Primary School head teacher Abi Johnson says: “As a small school on the edge of Arnside and Silverdale Area of Outstanding National Beauty, we nurture a friendly and caring environment and we’re constantly looking for ways to improve our grounds and facilities for our students.” “We’re very grateful to English Lakes Hotels for getting involved in the project and making such a significant donation. The Toilet Twinning idea has also provided a strong, caring educational theme on overseas development and sanitation for the students to consider.” The donation from the hotel group was made via its Sam’s Club Charity which supports local charities and good causes. Adam Bujok from English Lakes Hotels Resorts & Venues adds: “We were invited to tour the school and were really impressed with their plans to improve their facilities. The composting toilet and outbuilding was an ideal project to help fund as it dovetails with our commitment to the Toilet Twinning initiative which provides clean water to poor communities and helps reduce spread of disease and premature deaths.”

A 240-year-old heritage textile mill based in Stanningley, West Yorkshire, has introduced menopause training for employees in managerial roles across the business. The training is part of AW Hainsworth’s commitment to wellbeing in the workplace, with the business setting out a significant investment strategy for employee wellbeing, over the next five years. The Company partnered with its Law Firm, Pannone Corporate of Manchester, which has established a training framework for managers and supervisors. This aims to raise awareness of the symptoms of menopause, assess and improve HR Policies and Procedures to ensure consistent support is offered and equip Managers with the knowledge and tools they need to support employees with menopause-related problems. AW Hainsworth was established in 1783 and manufactures exquisite woollen cloth, high-performing textiles, and iconic fabrics for customers worldwide. The Royal Warrant Holder and textile manufacturer is the parent company of Hainsworth Fabric of a Nation, Hainsworth Protective Fabrics, Hainsworth Toptable, Natural Legacy by Hainsworth, John Atkinson, Hainsworth Technical Felt, Northern Rubber by Hainsworth, and Replin by Hainsworth. Phil Pickard, a team leader at AW Hainsworth, found the training invaluable and explains: “I was at work one day and noticed that a colleague who I’ve known for a long time wasn’t her usual self and seemed quite upset. I asked her what was wrong, and it all came out – she was going through menopause and having a rough time at work because of it.” “Having had the Menopause Training the week before, I asked how her job could be changed to suit her needs and put a plan together to help her going forward. The training really opened my eyes and helped me to understand how if someone going through menopause doesn’t have support, it could be critical to their well-being. It also gave me guidance as to how I, as a man, can speak to my female colleagues about this and offer support as best I can.” In addition to menopause training, the business has also invested over £20,000 in mental health support, forming a partnership with Unmasked Mental Health of Halifax. Monthly sessions are held in the Mill, whereby members of the workforce can participate in insightful presentations and talks on mental health and well-being. The training has seen more than 10% of AW Hainsworth employees qualify as Mental Health First Aiders in the last year alone. The Business also provides free of charge private counselling within the Mill, to those who need this the most. Amanda McLaren, Managing Director at AW Hainsworth, said: “By removing the stigma around mental illness and putting strategies and signposting in place, alongside the qualified support offered to us by our partners, I am hoping we can make a positive difference to many of our colleagues’ lives.” To further support employee wellbeing and continue to make AW Hainsworth a desirable workplace, the business has also invested in improving and creating new shared spaces, enhancing internal communications channels, introducing awards for long service and ensuring the availability of free period products at its headquarters in Leeds.

In his role as the Prime Minister’s trade envoy to Australia, iconic former cricketer Lord Botham OBE visited Sound Leisure in Leeds. The manufacturer of classic jukeboxes, which has exported to Australia for over 20 years, has sold 15 of its jukeboxes to Australia in the last 12 months. Employing more than 40 people at its Leeds head office and manufacturing centre, the £5m revenue family-owned Sound Leisure has again been named as an Export Champion for 2023 and sells 80% of its products overseas to customers in over 40 countries worldwide, including Australia, the US and Japan. Celebrities, royalty and famous athletes are among the buyers of its retro-design state of the art vinyl and digital jukeboxes. “Sound Leisure is a mainly export business, and anytime we can move forward our knowledge of overseas markets, and share our experiences and insights with other exporters and businesses, we grab the opportunity,” said Sound Leisure director Mike Black. Mr Black escorted Lord Botham on a tour of the firm’s state-of-the-art, 80,000 sq ft manufacturing facility, where he was shown how Sound Leisure classic jukeboxes are meticulously hand built by a team of skilled craftsmen. Mike Black said: “It was great to welcome Lord Botham to our factory today and he was really impressed to see the levels of skill and craftsmanship that go into building these intricate and innovative machines which we have been producing here in Leeds for 45 years.” “We’re a family-run British manufacturing business and exports, including to Australia, make up a huge amount of our business. We’re proud to have been named an Export Champion for the Northern Powerhouse once again this year by the Department of Business and Trade.” Lord Botham’s role as trade envoy is an unpaid and voluntary one, aimed at boosting British business in Australia. The factory tour was followed by an Export Champions round table, organised by the Department of Business and Trade and held at the Sound Leisure manufacturing facility.

Outdoor shading manufacturer, Caribbean Blinds, has partnered with a number of new installers following their successful debut at this year’s FIT Show – the UK’s only dedicated event for the window, door, hardware and flat glass industry. As the country’s number one fabricator and installer trade exhibition, the FIT Show celebrated its ten year anniversary at the NEC Birmingham from the 23rd to 25th May. Acting as the perfect platform to showcase their entire award-winning range of luxury external shading systems including patio awnings, louvered roofs and external blinds, Caribbean Blinds’ stand allowed installers to see and feel the superior quality and finishing touches of their products first-hand. The Sudbury based firm also introduced their latest awning and pergola sales aids, including sample kits that enable installers to effortlessly sell their products. Caribbean Blinds’ louvered roof pergolas attracted the most interest from installers over the course of the three-day event, with a total of 239 installers registering as partners at the show, and 10% investing in sampling there and then. Managing Director at Caribbean Blinds, Stuart Dantzic, commented: “Now is the ideal time for installers to be offering a complete glazing package – including shading – due to a number of factors including climate change, legislation and importantly, ongoing trends in consumer behaviour.” “Wherever glazing is installed, there is an opportunity and need for external shading. Our products are a natural addition to an installer’s product portfolio, increasing average sale values and boosting profits as a result. The two products go hand-in-hand, so the show was a natural fit for us to showcase our solutions to the sector.” “Our team thoroughly enjoyed meeting so many forward-thinking installers who were looking to grow their sales with the addition of external shading…so much so that we have signed up to the next FIT Show in 2025!” Caribbean Blinds is committed to helping installers maximise sales of external shading in conjunction with glazing and providing a profitable additional revenue stream as a result. The team strongly believes that the reason for the high registration rate was due to the ease of adding their products to any range, including their dedicated installer academy, the use of their own delivery vehicles and their two-week UK manufacture guarantee. Since completing on its 10,000sq/ft factory extension at the end of 2022, Caribbean Blinds has not only onboarded six new members of staff – with plans to recruit six more – but the company’s ability to hold much higher levels of stock has reduced both price volatility and lead times.

A river may not run through it, but new General Manager of The Boathouse in Yalding, Rachel Webb, is hoping the three rivers converging alongside her new workplace will bring a chance to go with the flow. Rachel, 40, who has worked in the hospitality industry since her teens, has swapped life at a large pub and restaurant in busy Bexleyheath for the more tranquil setting of the Shepherd Neame riverside pub near Maidstone. But she knows her time there won’t be quiet, as the venue is always fully booked and buzzing from spring through to autumn, as customers flock to enjoy al fresco drinks and dining with the spectacular views of the River Medway, River Beult and River Teise. And she is already planning to channel the benefits of the pub’s unique location for further success, starting with table service to the boats which moor alongside the site. Originally from Crawley, Rachel spent her career working for a number of pub chains, Mitchells & Butlers, Marston’s, and, most recently the Stonegate Group, running the Grade II Listed Danson Stables in Bexleyheath. She said: “I initially went into hospitality because I love people and thought I could pull a pint! I progressed quickly in the industry and am used to managing massive teams and juggling everything that goes with that. But the higher I went with some of my previous employers, which were large chains, the more I realised I wanted to get back to a more personal approach – I wanted to get back to what I loved when I started and get my passion back for the industry. “Here at The Boathouse, working for Shepherd Neame, which is an independent family business, I think I have found that. We are already incredibly busy in the summer months, so my focus is looking at what else we can offer our locals that will keep them coming back to us throughout the year.” She plans to start opening for breakfast and will be staging more live music and some small events and promotions during the week to encourage families, parents at home with young children and retired customers to visit. Parts of the pub date back to the 16th century and one area she is hoping to revive is the Edith Nesbit room, transforming it into a private function room. The pub, formerly The Anchor, includes a display dedicated to the author, best known for The Railway Children, and even featured in her romantic novel, Salome and the Head. A new menu, along with new chalkboards announcing the latest specials, has been introduced, offering classic pub food with a modern twist, using seasonal ingredients wherever possible, along with a range of classic and innovative brunch options. Rachel has been able to call on an extra pair of hands to help with the menu changes, as her partner, Dan Archer, an experienced Head Chef, has also joined The Boathouse team. He is now working alongside the pub’s Head Chef, Zine Abdi, as Sous Chef. Rachel said: “Dan is very happy to be the Sous Chef. Both of us made this move as we were striving for a little more work/life balance. While The Boathouse is busy, we hope that being in a quieter, rural location will help us do that, and we are really excited about embarking on this new challenge together.”

Succession is arguably the most important decision you’ll face as a family business owner. Getting it right will help ensure your firm’s longevity; getting it wrong could put it all at risk. So come the time for transition, how do you go about handing over the keys to the kingdom? We spoke to Larry Phillips, Senior Partner at Goodman Jones who works with family business clients to gauge his thoughts. In An Ideal World… You’ve made a clear choice about which of your offspring are best placed to carry on the family business. Your transition plan has seen them work in the business for some time, experience every part of its operations, and take on senior positions when ready. You may even have started to step back, and let them begin to take control. This is the point at which you should be reviewing the operational and ownership structure of your company. How are your firm’s operations organized? Who will run which divisions? Who should own how much of the share capital – and how much will you retain? An external perspective is helpful when making these important – and tricky – judgements. Succession Derailers… The above scenario is, of course, the ideal one. And with a bit of considered advice along the way, plenty of family businesses manage their transition in this way. But given the unique challenges of running a family firm, there are many potential barriers to a smooth succession. Firstly, despite all your hopes and plans, your offspring may lack the ability, or the inclination, to take over the business. This can be dispiriting, but if it happens, there are other options open to you, which we’ll deal with in our next blog . Then there is the issue of control. It can be difficult for founder generations to hand over their ‘baby’ – especially if the next generation intends significant changes. As the owner, you need to be mentally prepared to let go. Finally, time can be the enemy. Putting succession planning on the backburner for too long can place the business at risk. You need to know who will take over the business some years ahead. This will give you time to put a development programme in place to fully equip your successor for the job. Fair Treatment… Another crucial consideration is what to do if not all your sons and daughters will be involved in the business. If not properly handled, this could lead to tensions and power struggles – we’ve even seen cases of sabotage. So How Do You Ensure A Fair Distribution Of The Family Wealth? Every family is different, of course, so there’s no one-size-fits-all solution to this situation. But in most cases, communication and compromise are the key. The family stakeholders of a business generally fall into three groups: those who work in the business; those who don’t; and at the centre of it all, the owners. It’s not uncommon for the needs and aspirations of these groups to conflict. But talking openly and honestly to each individual will help you to understand what they want, and to find a solution that’s acceptable to all. It will also help avoid some common pitfalls. Parents often give shares to their children, thinking that they’re doing the right thing, when a different approach is needed. Tax Planning Handing over a business obviously has major tax implications. And while it’s vital to have the right tax strategy in place before transition, don’t be tempted to let the tail wag the dog. Your business decisions should always be based on commercial merit, not on how much tax you can save. That said, there are some important fiscal issues to keep in mind. It can often be tax-efficient to gift a proportion of the company ownership to your successor(s). Of course, you may want to retain a proportion yourself, so that you can continue to receive an income from the firm you’ve spent so much time building. Many business owners assume that they’ll benefit from 100% inheritance and capital gains tax relief when relinquishing the business. But that’s not always the case. You need to check your tax position very carefully, and take advice on what to do. Think Forward When it comes to succession, the most important advice anyone can give a family business owner is: plan. Plan early, and plan ahead. Review your plans and keep them up to date. And seek expert advice where necessary. Remember – the unexpected could strike at any time. Transition is something you need to be ready for.