Perdue Farms is supporting Boys & Girls Clubs of Skagit County in Mount Vernon, Wash., with a $10,000 grant funded through the Franklin P. and Arthur W. Perdue Foundation to promote healthy lifestyles. The donation from Perdue’s charitable giving arm is part of the company’s Delivering Hope to Our Neighbors® initiative focused on improving quality of life and building strong communities. Mount Vernon is home to Draper Valley Farms and its portfolio of local chicken brands ROXY®, RANGER®, and DRAPER VALLEY FARMS®. Perdue Farms is the parent company of Draper Valley Farms. The mission of the Boys & Girls Clubs is to help young people, “especially those who need us most, reach their full potential as productive, caring, responsible citizens,” said Ian Faley, chief development officer and executive vice president, noting the organization operates nine clubs that serve more than 5,000 youths in Skagit County. “We’re grateful to Perdue Farms for their continued support of our programming.” Boys & Girls Clubs will use the Perdue Foundation grant for its Healthy Lifestyles & Healthy Habits program, which “engages our youth in constructive activities that stress the importance of healthy eating, maintaining a balanced diet and practicing self-control when making choices and decisions,” Faley said. Healthy Lifestyles focuses on practical cooking skills and understanding the role of agriculture locally and nationally, he said. The program will outline the benefits of exercise and practicing good eating habits. Kim Nechay, executive director of the Perdue Foundation, applauded the work of Boys & Girls Clubs of Skagit County. “Boys & Girls Clubs does a fabulous job mentoring young people in Skagit County,” she said. “Our foundation is happy to provide this grant for its Healthy Habits & Healthy Lifestyles program.”

Chavalit Frederick Tsao, chairman of IMC Pan Asia Alliance Group, outlines his plans for the family business since taking over the helm 20 years ago.

Easa Al Gurg, group CEO of the UAE's Easa Saleh Al Gurg Group, which was founded by his late grandfather, speaks to CNBC's Dan Murphy about taking leadership of the conglomerate and the inner workings of one of the Middle East's most prominent family businesses.

Rising fuel and energy prices puts over half of UK small businesses at risk of collapse according to the latest report from Simply Business. KEY FINDINGS: Over half (54%) of SME owners say rising fuel and energy costs are one of their greatest threats to survival A third (36%) say that tax and national insurance hikes are the greatest concern As a result, three in five (59%) small business owners are calling on the government to review or reduce the energy price cap and a fifth (21%) state the VAT cut needs to be reviewed or extended. A survey of over 1,000 UK small businesses has revealed that rising fuel and energy costs is now believed to be one of the greatest threats to SME survival in 2022. The SME Insights Report, published by small business insurance provider Simply Business, also found that one third (36%) stated tax and national insurance hikes are their greatest concern. The report found that 70% of SME owners say that rising costs across the board are their biggest challenge this year. Half (49%) said that they are set to increase their prices in an attempt to offset increased expenditure. One in five (21%) intend to raise prices by 6-10%, and for almost one in 10 owners (7%), these increases could be as much as 20%. As a result, three in five (59%) small business owners are calling on the government to review or reduce the energy price cap. One fifth (21%) state that the VAT cut needs to be reviewed or extended, and over one in 10 (12%) feel that the government should review or reduce national insurance. While the energy price caps do not apply to businesses directly, millions of small business owners are still experiencing increased energy bills at a time when costs are rising in most operational areas. At the same time, with a substantial number of households affected by rising energy bills, consumer purchasing power is going down as people cut back on non-essential spending. SMEs in food and drink, hospitality and retail are most at risk, decreasing revenue and income for small business owners still in the vital post-pandemic recovery period. Wider Threats To SME Survival Looking at wider challenges, the report also found that a fifth (22%) of SMEs state a lack of funds or access to credit could lead to closure this year. Greatest threats to SME survival: Rising fuel and energy costs – 54% Tax and national insurance hikes – 36% Lack of funds or access to credit – 22% Marketing and the ability to find customers – 26% Recovering from pandemic related losses – 18% 87% of small business owners lost an average of £20,981 each over the last two years, with many still suffering financially. The total cost of Covid-19 now sits at £109.6 billion – with one in six (16%) believing they will never recover financially from the pandemic. Green Shoots Of Confidence Three in five (62%) owners believe that the economy is set to worsen over the next six months. Despite this, many SME owners remain confident in their business’ ability to weather the storm. This level of confidence is a stark contrast to levels reported during the pandemic, when in September 2020, one in five (17%) predicted that their business wouldn’t survive another lockdown. Almost two years on, a third (34%) now say they’re more confident about their business’ prospects than 6-12 months ago, with 71% very confident about their business prospects in 2022. Analysing the report, Jonathan Portes, Professor of Economics and Public Policy at King’s College London, said: “Apart from raising prices, the main response to these adverse pressures from businesses is likely to be to simply hunker down, reduce costs where possible, and get on with it: that is, to pause expansion plans and, for those with employees, to cut back on hiring, hoping that conditions will improve over the coming year. The crucial factor here is likely to be consumer confidence and consumer demand. This has clearly taken a severe hit in recent months, but may recover if inflation reduces and real incomes return to growth.” “What can the government do to help? Fuel and energy prices are by far the largest concern, and here the key drivers are global. However, UK conditions have been aggravated by both Brexit and the recent fall in the pound, which further pushes up energy prices, as well as by the operation of the energy market and the price cap. Nor does the disconnect between the Prime Minister’s call for a ‘high wage, high productivity’ economy and the insistence that workers have to accept large cuts in real wages help to improve consumer and business confidence. While UK businesses remain resilient in the face of further economic turmoil, they need and deserve a more coherent longer-term strategy for the UK economy.” Alan Thomas, UK CEO at Simply Business, said: “Many small business owners are at breaking point – feeling the crippling pressure of rising costs, energy and fuel prices, alongside their ongoing recovery from the economic impact of the pandemic.” “Our SME Insights Report is a clear indication that small business owners want and need government support, with three in five calling for a review or reduction of the energy price cap.” “In the meantime, whilst the energy price caps do not apply to businesses, owners are seeing their energy bills increase overall. The surging cost of fuel and energy, alongside the overall rising cost of living, will understandably see households cut back on non-essential spending. There is a domino effect in place. The impact to consumer purchasing behaviour will trickle through to the books of small business owners, at a time when SMEs need our support the most.” “The latest rate rise also came with a clear recession warning, and poses a serious risk to many small businesses. Sole traders and microbusinesses will feel the pressure more than most. This all comes at a time when many are still in recovery mode. One in six believe they will never financially recover from the pandemic. As a result, two in five owners are calling for long-lasting financial support from the government to help them get back on their feet after Covid-19.” “Accounting for over 99% of all UK businesses and contributing trillions of pounds in turnover every year, small businesses sit at the heart of our communities and are vital to our economy. And while it’s encouraging that the majority remain optimistic about their businesses chances, it’s clear that owners need support to weather the pressure of rising costs.”

Over the last two years, Perrywood Tiptree and Perrywood Sudbury have raised a grand total of £45,000 for local charities, schools and community projects. Every two years, Perrywood choose local charities or community groups to support. In 2021/2, £35,000 was raised for Abberton Rural Training, Together We Grow, Colchester Hospital, ActivLives and Greenfingers. Fundraising activities by the Perrywood team and customers included an afternoon tea party, charity quizzes, prize draws and team Christmas jumper days, and tours and talks to gardening and community groups. The Tiptree Coffee Shop & Restaurant team donated their tips to the Colchester & Ipswich Hospitals Charity. Thanks to the generous tips from customers, they raised £9,720, which went towards equipment at Colchester Hospital. An additional £10,000 was gifted in plant donations, gardening equipment and raffle prizes to other local charities, schools and community projects during 2022. Hannah Powell, Communications and HR Director at Perrywood, comments: “The last couple of years have been challenging for charities, so to raise this much money for them whilst households have been understandably tightening their belts has been amazing. We would like to say a huge thank you to all our customers and our team for their ongoing support. It’s only with their help and enthusiasm that this terrific amount has been possible.” “In 2023/24, we will continue to support Abberton Rural Training to deliver land-based courses to different groups, including those who are disadvantaged, vulnerable and isolated and Greenfingers who build beautiful gardens for children’s hospices.” “We also look forward to working with two new charities. Hope for Tomorrow provides mobile cancer care clinics across Essex and Suffolk. The Red Rose Community Farm at Sudbury deliver befriending schemes and support for adults with learning disabilities and need help as they transition to their new site in Lindsey near Sudbury.”

As part of Perdue Farms’ Delivering Hope to Our Neighbors® outreach, The Salvation Army of Salisbury has been awarded a $30,000 grant funded through the Franklin P. and Arthur W. Perdue Foundation to help fund its kitchen renovation project. “This generous donation from Perdue will allow us to purchase new commercial kitchen appliances for our kitchen,” said Capt. Matthew Trantham, commanding officer of The Salvation Army of Salisbury. “The renovations will help with food preparation while we help individuals and families through our food programs. The kitchen has not been used in full capacity since before 2010. Financially, it has impacted our operations and programs.” The kitchen appliances that will be purchased include a commercial refrigerator/freezer, an industrial oven, an industrial utility sink, a commercial prep station, and a grease trap. “The community and our events will benefit greatly from the funding,” Capt. Trantham said. “Our youth and senior programs will now be able to have concessions during public events and we will be able to prepare food for our church, clubs and programs.” The Salvation Army of Salisbury offers human services through its programs, including food and utility assistance to those in need in Somerset, Wicomico, and Worcester counties. Other programs include worship services, Bible study, senior citizen Pickle Ball and social clubs, and after-school youth clubs and sports activities. Kim Nechay, executive director of the Perdue Foundation, praised the work of the Salvation Army of Salisbury. “Perdue is happy to support The Salvation Army of Salisbury,” she said. “The kitchen renovation will allow this worthy organization to help more people in our community and we’re proud to be part of that.”

Latest UK survey reveals over three-quarters (78%) of business leaders in the UK have suffered from impostor syndrome. Key Findings: 78% of UK business leaders have experienced impostor syndrome. 47% are currently suffering from impostor syndrome symptoms. 59% of business leaders have left or are thinking about leaving their job due to impostor syndrome. 64% of professional relationships amongst business leaders were disrupted by impostor syndrome. Impostor syndrome has become increasingly prevalent in recent years, as pressures to perform well at work have caused higher levels of doubt in one’s ability to do their job. Recent data from research conducted by financial comparison site NerdWallet has identified the impact this self-doubt can have on work performance, relationships, and more. The survey of 500 UK business leaders found that over three-quarters (78%) had experienced impostor syndrome, with 47% reporting that they were currently experiencing impostor syndrome symptoms at work. Only 22% said that they hadn’t experienced it at all, highlighting how common it is. Thankfully, those that were experiencing impostor syndrome were most likely to confide in friends (69%) and family (65%). Just over half (51%) of the business leaders surveyed said they felt comfortable discussing this with their co-workers or employees. Unfortunately, however, it seems that there is still a stigma surrounding the discussion of impostor syndrome within some sectors, with just 21% of respondents reporting that they had discussed these feelings with their peers or other business leaders. In terms of the factors that were responsible for triggering feelings of self-doubt, starting out in a new role was the most reported (57%) – followed closely by receiving praise in front of colleagues (55%). Some other common triggers were: Carrying out meetings with team members (49%) Carrying out performance reviews (47%) Giving presentations in front of team members (44%) Being asked questions in front of the wider team (31%) Whilst impostor syndrome may appear to be a personal issue, it can have severe consequences on work performance and even various aspects of workers’ personal lives. The survey found that over half (59%) of respondents had either thought about leaving or had left their job due to impostor syndrome, with an additional 31% considering doing so but not yet following through. The areas that were most affected by impostor syndrome included: Professional relationships (64%) Physical health (53%) Personal finances (51%) Personal relationships (46%) Speaking on the results of the survey, NerdWallet’s business finance expert, Connor Campbell, commented: “Imposter syndrome has proved to be prominent amongst business leaders and it shows that the pressures of a job can come with both professional and personal consequences.” “The results show that although business leaders are confiding in others about how they feel, there is an opportunity for companies to support their employees with feelings of doubt to ensure they are happy in their roles going forward.” “Dealing with imposter syndrome early may help businesses retain their talent – and keep employees in a job – as the UK economy faces economic uncertainty in 2023 and people think more about their personal circumstances.”

Helping the next generation learn leadership skills is possible in a virtual world. But it’s harder and we need to work harder at it. In this article, Mark Essex from KPMG shares his thoughts Hybrid is going to be here for the foreseeable. It’s not a phase. Working virtually has enormous advantages when it comes to learning. ‘On demand’ content makes it easier to pick up knowledge and some skills in a way that fits around other commitments. But some skills are harder to pick up this way. Learning ‘meta skills’ via osmosis is harder via lens as these are the skills previous generations learnt by observing, shadowing. Watching how senior colleagues handled themselves in meetings, or by overhearing phone calls. Knowing when to sit back, when to propose. And what we didn’t get ‘by osmosis’ we were able to gain in those moments between meetings; gone in the digital world as we switch to the next Zoom call. For the older generation this was low effort, high impact ‘coaching’. By simply doing what came naturally, knowledge and wisdom was passed on. It will be harder for this generation. We need to think about the learning points we want to get from each opportunity. And then schedule time to reflect and debrief. And, hardest of all, we must reflect on whether all the skill and experience we have to pass down is even relevant to his generation. Leading teams in a virtual world is harder. It requires effort, concentration and planning. But for business leaders passing on their experience gained over a lifetime it’s an investment. And the return is higher for family businesses. Hybrid working is not a phase we’ll grow out of. It’s a new reality. Even the most ‘bricks and mortar’ businesses are engaging virtually with customers, suppliers and potential recruits. And as I have argued previously, we won’t settle down on new norms for some time yet. This brings enormous advantages to some parts of our work. I’m writing this piece in my conservatory in complete quiet. Bliss! I always struggled to concentrate on focussed work in an open plan office. Is that just me? Learning is easier too. So much of the training material I access now is virtual. Pop in your earphones and enjoy multimedia content. Whenever it suits. I would have struggled to find a trainer to go through which buttons to press at 6am or 10pm before. For procedural training or knowledge acquisition, there’s no going back. But some skills are harder to acquire this way. What some call ‘soft skills’. I was never keen on this phrase: not least because I found some of these skills hard to learn. I’m going to call them leadership skills. I put in the effort to acquire them, shadowing senior colleagues, observing their body language and subtle glances, peripheral signals. Now, I must pass this on through a 2mm wide piece of glass which is my webcam lens. It doesn’t have peripheral vision. I have colleagues whose partner, kids and pets I know by name but when I learnt today that one of them is 6 months pregnant you realise that there’s a lot of information that doesn’t make it through that lens! It’s not just about camera angles. It’s also those liminal moments we miss. The post-meeting debrief in the cab, or the drive home. “Why did you do that?” “What was it about their behaviour that prompted you to change your mind?” “I missed the buying signals.” Somehow, we never seem to schedule those debriefs into the diary and now those micro-learning opportunities disappear as our avatars move straight to the next back-to-back Zoom call. When do we consolidate, compare notes or plan the next session with our future leaders? How then should we approach leadership through the lens? First, we need to recognise its harder and put the effort in. We must spend some of the time we save in travel on planning. Be deliberate about explaining why we do what we do. Find time which we used to have ‘for free’ on the way back from a real-life meeting. It’s harder and it’s new and it’s clunky and we’ll have to work at it. But family business leaders have an advantage; they are sure of the return. Leaders in other businesses have a next generation which is committed potentially only as long as their notice period. You’d forgive them for being tempted to skip that hard work. But for family business leaders the investment in the next generation is just that – an investment. Of course, when we try to adapt our leadership style for the next generation, we discover new challenges. More and more of our staff have limited experience of the pre-pandemic way of working. Our newest recruits have known nothing but a digital childhood and have known only a virtual or hybrid workplace. Next year’s graduates are the students who had their A-levels disrupted. For the next ten years, entrants to the workplace will have had a school career disrupted by the pandemic. Their expectations will be totally different to new entrants from even five years ago. What motivates them is not what motivated us. They may challenge us to reflect on our own approach to leadership. For example, when we insist on people coming into the office is it possible that we are bringing people out of an environment which they navigate with ease into an environment we are more successful in? We should ask ourselves: are doing that for their benefit or for our convenience? We need to make judgments about which lessons they should learn from our experience and which they get from their peers. Who might be sharing that experience via a sixty second video from another continent. Maybe the next generation can manage just fine in their relationships without seeing the back of someone’s head. Feels weird to me. But tomorrow’s world is their world. Adapting our leadership styles to the people we lead is the mark of a great business leader. So, are we going to go one step further and unlearn some of our habits built up over decades to adapt to the new leadership challenges? My Top Tip: Next time you go to a virtual meeting with a junior colleague, manufacture a fake cab ride home so another zoom call doesn’t squeeze in. Make notes about what just happened. Think about the questions you’re going to ask your future leader. You aren’t done when you click off that virtual meeting.

UK small businesses are driving change with 8 in 10 small business leaders treat sustainability as a priority within their supply chain. New research from Novuna Business Finance shows that UK small businesses are driving ahead with a green agenda and many have already taken steps to be the catalyst for change in the broader supply chain. Applying Best Practice Into The Supply Chain The research revealed that more than 8 in 10 small business leaders (82%) now treat sustainability as a priority in the supply chain, driving change with those enterprises they deal with as suppliers or customers. 26% of small businesses were particularly interested in the sustainability of materials and said they were moving away from buying non-recyclable or single-use materials with climate negative production processes. 22% of respondents now expect businesses they deal with to follow similar standards on carbon neutrality. 17% of businesses now assess the green credentials of firms before they decide to business with them. In addition, 15% of respondents said they now insist that their suppliers improve their carbon standards in order to continue doing business with them. In addition to setting their own standards for their supply chain, a number of small businesses have had to react to the demands of others. Almost one in five enterprises (18%) acknowledged they had changed their own practices to meet the environmental demands of their customers and suppliers. Separately, the research found that more than a quarter of businesses (28%) felt frustrated that there were not clearer guidelines from the Government on how supply chains can be greener. This rose to 36% in the manufacturing sector, and 40% a transport and distribution. Small Businesses Driving Agenda Of Green Action Sustainability matters more to small businesses than it did a year ago – with 89% saying carbon reduction is important to them. This year, small businesses have been setting out to review energy usage, considering renewable alternatives (26%), looking to have a positive social impact on their immediate community (22%), and switching to greener forms of transport (20%). In addition, many enterprises have actively contributed to local green initiatives – such as litter picking and community green energy projects (18%). As a result of these activities, 13% of small businesses already claim to be Net Zero, 31% have a Net Zero plan and target they are working to – and 45% are taking positive steps even though they don’t yet have a formal carbon reduction plan in place. Broader Community’s Approach To Sustainability There are too many businesses that don’t seem to be taking carbon emissions seriously (24%) Businesses tend to do their own thing rather than work together (23%) There is not enough happening in my community to reduce carbon emissions (22%) It’s not clear whether there are initiatives within the community that all businesses can support (21%) It is not made a big enough priority by business clubs and networks (17%) I know of businesses in my community that are prospering because they have gone green (16%) Our business supports community projects that help the environment (16%) Our business supports educational and green matters at local schools (15%) Not applicable – Carbon emissions do not seem to be a priority in the community (13%) Joanna Morris, Head of Insight at Novuna Business Finance commented: “It is evident that small businesses are implementing change in their businesses and also insisting on change within their supply chain – whether it be assessing sustainability goals before agreeing to collaborate, or urging those who are current partners to improve their own practices.” “There is always a focus on the role big businesses can play in driving forward the climate change agenda – but our own data suggests the valiant efforts of smaller enterprises should not be overlooked. Many of them are acting as true change agents in the broader supply chain and their influence may well prove to be far greater than their relative size.”

Perdue truckers and associates joined community volunteers to renew a 37-year Operation Teddy Bear tradition to deliver a little holiday cheer to residents of the Holy Center, a State of Maryland residential facility for people with mental and physical disabilities. The event aligns with the company’s Delivering Hope To Our Neighbors® outreach focused on improving quality of life and building strong communities. Operation Teddy Bear enables Holly Center residents to take a ride in a big rig with one of Perdue’s professional truck drivers. The caravan of trucks, adorned with holiday decorations, navigates residents on an 11-mile loop in Wicomico County, beginning and ending at the Holy Center. “Operation Teddy Bear really serves to kick off the holiday season for Perdue and its drivers,” said Chairman Jim Perdue. “Events like this really showcase the heart and soul of our drivers, and illustrate a commitment to giving back, including those members of the community who volunteer their time each year to help make this event possible.” Operation Teddy Bear was inspired by the 1976 song “Teddy Bear” recorded by country music artist the late Red Sovine. The song tells the story of a CB radio conversation between a trucker and a housebound disabled boy who desperately wants a ride in a rig after his father, a trucker, has been killed. At the end of the song the trucker goes to pick up the boy to give him a ride and finds the boy’s street clogged with rigs and drivers who heard the conversation over the radio. After hearing Sovine’s song, two Perdue associates were inspired to launch the Operation Teddy Bear program at Perdue to help the residents of the Holly Center. Since the program’s inception, Perdue associates and truck drivers have been volunteering every year to provide rides residents. “There’s nothing better than seeing the smiling faces of the residents during their rides,” said Hal Belote, who looks forward to the event each year.

With demand for Stage V pumpsets outstripping the supply chains of all European pump manufacturers, GAP Group (GAP) and DXB Integrate Limited (DXBi) have agreed for GAP to purchase the existing fleet of high head and high flow DXBi 200mm sewage pumpsets to service the rapidly expanding hire demand from GAP’s customers. The pumpsets being bought from DXBi are identical to the 200mm pumpsets that GAP bought from DXBi in 2022, and will instantly add 40% more to the GAP fleet. This allows the hire company to support the demands for clean engine pumpsets on major projects stipulating Stage V. All the 200mm pumpsets have been designed and manufactured by DXB Pump & Power, the manufacturing division of the DXB Group that has supplied almost 150 Stage V pumpsets to GAP over the last 12 months, enabling them to make a huge impact in the UK’s water industry. Mark Anderson, GAP’s Managing Director for the North commented, “We have seen a good deal of trouble-free success with these 200mm pumpsets powered by Stage V engines, and by purchasing the existing DXBi 200mm fleet, it allows us to quickly fill the growing demand that may have been impacted by engine deliveries, which have always been challenging.” He continued “DXB have done well to supply us around 150 pumpsets this year whilst building their new factory at the same time, which we know was a major challenge in these economic conditions. This purchase enables us to keep driving forward aggressively whilst we wait for the next round of pumpsets which we should have in Q1 2023.” Simon Ruffles, Managing Director of DXB Integrate said “GAP Pump Services is now a major player in the UK pump industry, having only started in 2021, and this is great credit to Mark and his business for having the vision to see the environmental opportunity of Stage V, or electric dryprime pumpsets and committing to it so aggressively.” He continued, “GAP is now the leader in the market in terms of Stage V pumpsets by far and this investment works for both companies, allowing DXBi to focus on more niche market applications such as the high pressure quarrying or oil & gas applications, and the very challenging geotechnical markets where our most recent fleet investments have been made.”

The scale of transformation and challenge since the pandemic is triggering sweeping changes to succession in family businesses, finds research by KPMG Private Enterprise. The commitment to family ownership is steadfast, with more than seven in 10 family business leaders (72%) intending that their children take on the business when they retire. But the succession plans at four in 10 have changed since the pandemic, resulting in more prominent roles for the next generation at nearly a third of family firms (31%). Family businesses look to next generation to drive change. Key Findings: Pandemic grew the role of the next generation in nearly a third of family firms Seven in 10 family business owners intend their offspring to run the business when they retire Four in 10 family businesses changed their succession plans as a result of the pandemic Biggest threat to family firms, cited by sixty percent, is impact of cost of living crisis on consumer demand The research shows a tale of two halves as some family businesses have accelerated succession plans while others have decelerated or even reversed them. At a third of those whose succession plans changed (30%) the impact is an earlier than previously planned step back from the business by leadership. At four in 10 the next generation have become more involved in the management, though not taking over the leadership. Nearly half, (46%) fear that managing succession on top of other risks is too much change at once and have delayed retirement or leaned back in to the business. Mark Essex, director in KPMG’s Family Business team, comments: “Succession in family firms has never been such a hot topic. Many plans have changed since the pandemic and in different directions. In many cases tech-based change has been the reason for the next gen to step up swiftly as their skills became critical to the success and survival of their businesses. Looking ahead a year or two, given the retirements that were postponed or reversed during the pandemic, we can expect to see another uptick in the next generation taking the reins, due to pent up demand for stepping back by the current generation of leadership.” The research, undertaken by OnePoll on behalf of KPMG, also finds six in ten family businesses (61%) consider a collapse in consumer demand as a result of the cost of living crisis to be their greatest threat, followed by a fifth (22%) citing concerns about input cost rises and other supply chain issues. The UK economy is critical to the sector, given the domestic market is the biggest opportunity for more than half (55%). The fact that a third of family firms (30%) anticipate their growth to be driven by products developed in the last 12 months is evidence of transformation, begun during the pandemic and uncovered by KPMG’s 2021 Mastering a Comeback report which found family businesses were 42% more likely to implement a transformation strategy than non family businesses. Further transformation is anticipated in the sector; nearly one in five current family business leaders (18%) expect their company to be a quite different enterprise in the longer term, focused on new products or markets. As family businesses respond to current economic challenges and their transformation programmes deliver a new normal, KPMG Private Enterprise launches The Family Business Leadership Academy , in partnership with the University of Leeds, to help the new-in-role now generation and the next generation to successfully run their family businesses. The 30 week course, of virtual and in-person teaching, begins early 2023 to equip new and aspiring family business owners and managers with leadership, stewardship and commercial skills. Mark adds: “The world the next generation of family business leaders inherit is fundamentally different from even three years ago, let alone the time their previous generation took over. We see a need to augment lessons passed on by previous leaders with insight from world class academics and peers. Nearly four in 10 family business leaders told us they turn to peers for advice and support. At the Family Business Leadership Academy, we hope learners will form bonds with fellow next generation leaders which may prove to be lifelong trusted relationships.” Julia Bennell, Dean of Leeds University Business School, says: “After years of educating business professionals this is the first time we have developed a syllabus specifically for future family business leaders. It blends academic rigour with business mentorship, designed to provide them with the tools needed in order to run resilient businesses.” Further Findings From KPMG’s Research: 90% of family businesses have a member of the ownership family in the management team Seven in 10 (69%) of family businesses have a succession plan The pandemic led 15% of family businesses to seek external talent as they needed skills that were not available in the family Six in ten family business leaders (61%) expect their company stay broadly the same in the longer term 13 percent are unsure about their company’s future, and can foresee the business closing due to economic challenges Only 7 percent expect to have to sell the business in the long term due to lack of appetite for running it from the next generation Four in 10 family business leaders (43%) use the other family members in the business as confidents with 37% turning to other family business leaders for support 1 in 5 family members have never worked outside family business though on average they work for four years outside before joining the family enterprise On average family members work in the business for five year before taking a leadership position but one in 10 become leaders after just one year in the firm