Marketing is a matter of storytelling and what’s better than using a story that your customers already know and love? With the new release of Spongebob bath bombs and soaps from Lush Cosmetics, the concept of nostalgia marketing is being brought back into the limelight. Nostalgia marketing is one of the great tools big companies are using to keep hold of their loyal customers and to grab the attention of others. But how can you use nostalgia marketing to your benefit? In this article, we will delve into the fascinating world of nostalgia marketing and explore how family businesses can effectively implement emotion into their marketing campaigns to boost brand loyalty and drive sales. Why Nostalgia Works Nostalgia works as a marketing technique that appeals to your customer’s emotions. It gives your customers a feeling of longing and a reminder of fond memories, making your product stick in their minds as something comparable to that happiness. Familiar faces, such as characters from childhood, can be one way of encouraging this longing, reminding your customer of happy times. Alice Cass, Digital and Social Marketer at UK Greetings , says: “Investing in the characters known and loved by your customer demographic is the perfect way to incorporate nostalgia into your marketing and business strategy. Nostalgia marketing is an excellent tool, bridging the gap between the past and present evoking a sense of familiarity and trust between a business and its customers.” According to the Harvard Business Review, studies conducted on nostalgia show that customers desire money less after a nostalgic event – meaning they are more likely to spend more when reminded of happy times. Nostalgic characters can include Groovy Chic from the 1990s, Boofle from the mid-late 2000s who has become recognisable during birthdays and special celebrations and special celebrations, and classic cartoon characters such as Scooby Doo, the Rugrats, and other recognisable faces. Even big brands like Coco Cola, Nintendo, and McDonalds have been known to jump on the nostalgia marketing hype – seeing results through bringing their history and their customers’ childhoods into their brands. What Counts As Nostalgic? Well, this depends on your target customer, recent nostalgia marketing has focused on the late ‘90s, with Generation Z being the front runners in commanding the trend, despite them not being born during this time period. The icons of this time persist as a brilliant way to market your business, having a profound impact on your customer. In short, nostalgia is something that reminds someone of the past – and while it usually is of their past, it doesn’t have to be. Stories from parent’s past, for example, can be just as effective. Popular shows like Stranger Things are helping to boost this desire for nostalgia, even during a time period many of the watchers might not remember, the ‘80s. How To bring Nostalgia Into Your Business Marketing Harnessing the nostalgic power of these characters and time periods can be done by developing them into your marketing strategy. However, it is important to note that characters likely have a trademark and copyright against them, so gaining appropriate licensing is a must. Whether posting online content or hosting in-house events for children, your characters can come to life and help promote your business. Perhaps, your bar has Groovy Chick Thursdays as Groovy Chick herself hands out cocktail discounts nearby, for example. Products Your products can even have a classic character or nostalgic twist to them. Whether this is a greeting card featuring your favourite childhood characters, such as Elliot & Buttons or Bubblegum, or you commemorate a time in history with your products. Companies such as Adidas have used the nostalgia marketing technique in their own trainers. As part of the 45th anniversary of Billie Jean King’s iconic tennis win, Adidas launched their own trainers with her face and initials on. This campaign saw a 20% boost in shoe sales during the time – showing the customer desire to be connected to history. Company History Another way to bring nostalgia into your business is by bringing the past into the present. Customers love a good throwback, so why not embrace this trend by highlighting the amazing history that your own company has. Whether it is a long family history that started the business off right or a collection of previous partnerships which bring back a friendly reminder – your business could have a lot of inspiration to draw from. Nostalgia has been proven to make customers want to spend more, but implementing this into your marketing strategy isn’t so easy. Some companies go down the route of paying for copyright licensing for characters, while others bring their own history into the mix to promote a community feeling within their customers. Whichever route you choose, investing in some nostalgia not only appeals to your customers’ emotions but also to their wallets.

World Photography Day takes place on Saturday 19th of August. The photography industry is constantly changing and developing, witnessing some remarkable development since Joseph Niépce captured the first-known photographic image in the early 19th century. World Photography Day presents an opportunity to look how far photography has come and celebrate some of the most influential figures in the industry. “It’s amazing to think just how much photography has developed over a relatively short period of time” says James Whitten, Marketing Manager at photoGuard. How Has Photography Changed Over Time? Just like any technological progress, much has changed since the initial pioneers of photography experimented with capturing still images. Less than 200 years ago eight hours of exposure time was needed to get one grainy image and now we carry around an instant video in our pockets. The 19th century witnessed significant progress, as enthusiasts worldwide experimented with various techniques to get the very best images. Innovations emerged from the camera obscura, giving rise to techniques like the calotype and collodion, which shortened exposure times to just few seconds. The last 100 years has seen several landmark achievements, as the barriers to what was possible in the world of photography were broken. Equipment such as drones, DSLR’s and GoPro’s, previously used only by professional photographers, soon became commonplace in the kit bags of amateurs. Now, many high-end cameras are built with jaw-dropping 50MP (megapixels) resolution or more. Who Are The Most Influential Photographers Of All Time? The 20th century has seen photographers break new ground and produce iconic images that will last a lifetime. Some of the biggest and most influential photographers include: Ansel Adams Ansel Adams was a landscape photographer and conservationist whose work elevated the North American photography. He rose to fame building up a portfolio of breathtaking images from National Parks across the west coast, most notably Yosemite. Adams was most well-known for his black-and-white landscapes, which he believed were much more expressive than colour shots. Richard Avedon Fashion and portrait photographer Richard Avedon was as big a name within the industry. Avedon worked with some of the biggest cultural icons of the 20th century, including The Beatles, Marilyn Monroe, and Martin Luther King. With daring and ground-breaking portraits, Avedon’s work gained such widespread recognition that his life served as the inspiration for the main character in the Fred Astaire film "Funny Face." David Bailey East-ender David Bailey worked for British Vogue during the height of the swinging 60’s shooting some of the biggest stars in fashion and music. Bailey’s working-class upbringing was a marked contrast to other British photographers of the time and allowed him to empathise with his subjects and portray them in a different light. “There are many influential photographers whose work is extraordinary. It is great to see new photographers taking inspiration from those influential figures” adds Whitten. Photography And The Impact On Family Business Many family firms have been around for generations and the role of photographs in capturing precious moments helps to retain the heritage and activities of the past. As Paul Andrews, Founder and CEO of Family Business United adds, "Photos have always had their place in capturing special moments in a journey of any family business and if you fast forward to the 21st century the way that we take and share pictures may have changed, but they have become an integral and essential part of the family business narrative." "A good image tells a myriad of stories and helps to captivate, intrigue and build a brand and those family firms that embrace the opportunity and make good use of imagery in their branding and social media posts are well placed to continue to make their presence felt." "Authenticity however remains more important than ever," concludes Paul. Make the most of the opportunities this #WorldPhotographyDay by sharing images of your family business, past and present.

With the right strategy, PR can be a powerful catalyst that supercharges your family business’ marketing efforts. After all, every family business has a unique story. Whether it's the founding story, generational transitions, or overcoming challenges, these stories create an emotional connection with your customers and your wider target market. What’s more, PR is a versatile tool that can be tailored to businesses of all sizes, enabling smaller firms to punch above their weight without breaking the bank. Isn’t PR Just Spin? Ironically, PR has had a bad press. Despite the misconception, PR is not a superficial affair of glitz and glamour or spin. While glitzy events and champagne receptions can be part of a broader strategy, PR is fundamentally about strategic communication, storytelling and reputation management. While all businesses have a story to tell, few make the most of it. What’s more, family firms have a huge advantage over their ‘faceless’ competitors in this respect. With the correct approach your family story can be the linchpin that connects your business with your target market to drive future growth. Selecting The Right PR Expert To get the most out of your PR efforts, you need to have clear business objectives and a marketing plan. A clearly articulated vision, captured in a plan, will help you to focus on your core business objectives, avoid distractions and costly mistakes. However, if this isn’t your skill-set don’t fret as an experienced marketing and PR professional can help guide you through the process, freeing you up to concentrate where your time is best spent. When selecting external PR support, look for qualities such as creativity, strategic thinking, and adaptability. Additionally, accreditations from reputable organisations, such as being an accredited member of the Chartered Institute of Public Relations (CIPR), signify a commitment to ethical practices and industry standards. These credentials ensure that your family business is in the hands of a qualified and reputable PR professional. Like most things in life it’s worth investing time in selecting the right expert and building a long-term relationship to extract maximum value. By working hand-in-glove you’ll ensures a more nuanced and effective PR strategy over time. Top PR Hints And Tips For Family-Owned Businesses Regularly issue press releases for significant events, milestones, or newsworthy activities within the business to relevant media outlets. Pitch feature stories to the media that highlight the unique aspects of your family business, such as its history, values, and traditions. Share personal profiles of family members and the wider team involved in the business to humanise the brand. Sponsor or participate in local events to increase visibility within the community. Attend and, if possible, speak at relevant industry events to position the business and leadership team as an authority. Share behind-the-scenes glimpses of daily operations and the company culture on social media platforms. Enter and publicise any industry or local business awards. About the Author - Matthew Rowe (MCIPR) is the Founder and Director of MJR Marketing and PR Consultancy Ltd. To find out more about making the most of marketing your family business and the role that PR could play, please feel free to get in touch by sending an email to matthew@mjrmarketingandpr.co.uk or visiting their website here

In the intricate tapestry of family businesses, the threads of tradition, resilience, and shared history are often interwoven through the art of storytelling. Beyond the balance sheets and profit margins, the narratives passed down from generation to generation serve as the lifeblood that sustains these enterprises, providing a unique value that extends far beyond mere financial gains. At the heart of family businesses, stories act as bridges between the past, present, and future. They serve as the invisible hand guiding the successors, imparting not just business acumen but a deep understanding of the values, ethos, and hard-earned lessons that have shaped the family enterprise over time. These tales offer a rich tapestry of wisdom, offering insights into the challenges overcome, innovative solutions devised, and the unyielding spirit that has weathered storms. In an era dominated by rapidly evolving markets and disruptive technologies, the significance of storytelling becomes even more pronounced. Family businesses, often deeply rooted in tradition, can leverage narratives as a means of adaptation and transformation. By recounting stories of adaptability and successful pivots, the elders of a family business inspire the younger generation to embrace change rather than fear it, fostering a culture of innovation. Storytelling is a fantastic way to capture the underlying essence of what a family business is all about, the good times and the bad, the war stories from a chest of long gone tales of challenge and in some cases survival, a catalogue of the evolution of the business, why it was founded and the historical milestones that it has weathered. Stories help to guide and shape family businesses of today and whilst nothing can detract from the need to remain a commercially viable and sustainable operation, they can add real value, authenticity and value to family firms, engendering loyalty and generating trust that non-family firms are unable to do, and at the same time lead to real competitive advantage in the marketplace. Beyond strategic advantages, the emotional impact of storytelling in family businesses cannot be overstated. These narratives forge a sense of identity, unity, and purpose among family members involved in the business. Shared stories create a collective memory, binding the family together and reinforcing a sense of belonging that extends beyond the boardroom. This emotional capital is a powerful force that can drive collaboration, loyalty, and resilience in the face of challenges. Furthermore, storytelling provides a unique platform for knowledge transfer. In an environment where skills, experiences, and insights are passed down organically, the next generation of family business leaders gains a holistic education that goes beyond formal training. Through anecdotes and firsthand accounts, family elders can communicate the nuances of decision-making, relationship management, and ethical considerations that may not be encapsulated in manuals or textbooks. In addition, the younger generations may start to pick up on the stories at a younger age and find that learning about the past and the way that the family business has evolved intrigues them and creates a desire to find out more and possibly become more engaged too. Ten Benefits Of Storytelling For Family Businesses Preservation of Tradition : Storytelling in family businesses helps preserve and pass down the traditions, values, and cultural identity that form the foundation of the enterprise. Knowledge Transfer : Through stories, practical experiences, insights, and business acumen are effectively transmitted from one generation to the next, ensuring the continuity of skills and expertise. Cultural Identity : Storytelling reinforces the family business's unique identity, creating a shared narrative that unites family members, employees, and stakeholders around a common purpose. Adaptability : Stories of past challenges, successes, and adaptations foster a culture of adaptability, encouraging family businesses to navigate changing markets and technologies with confidence and resilience. Innovation : Inspiring tales of innovation and creativity within the family business history encourage the younger generation to think outside the box and contribute fresh ideas to drive the enterprise forward. Emotional Connection : Stories evoke emotions, fostering a deep emotional connection among family members involved in the business, which, in turn, strengthens bonds, communication, and collaboration. Values Reinforcement : Storytelling serves as a powerful tool to reinforce ethical values and principles, helping instill a strong moral compass within the family business that guides decision-making. Leadership Development : Narratives of leadership challenges, triumphs, and failures provide valuable lessons for leadership development, offering insights into effective decision-making and team management. Family Legacy : Through storytelling, family businesses create a legacy that extends beyond financial success, emphasising the importance of contribution to the community, sustainability, and social responsibility. Employee Engagement : Shared stories create a sense of belonging and purpose, not only among family members but also among employees, enhancing overall job satisfaction, commitment, and a positive organisational culture. In essence, the value of storytelling in family businesses lies not just in the tales themselves but in the cultural, emotional, and educational capital they generate. These stories can become a strategic asset, shaping the family business into a resilient, adaptive, and purpose-driven entity that transcends generations. As family businesses continue to navigate the dynamic landscapes of doing business in an ever changing world, the enduring power of storytelling remains a beacon, illuminating the path forward with the wisdom of the past and is a fantastic way to celebrate the journey as it continues, looking forward with a nod to the past and the endeavours of previous generations who have helped shaped the business that remains today.

Despite widespread claims of ‘email fatigue’ amongst many marketers, effective email marketing continues to deliver results. Researchers at Emarsys have found that 81% of small and medium-sized businesses use email marketing as their main customer acquisition channel, with 80% of these same businesses also using email as their main customer retention channel. So, rather than seeing email as something which is ‘old school’, and overlooked in favour of newer channels, see it as a key channel in your armour that can drive results cost effectively. If You Want The Detail…. The rise of social media has for some businesses meant an overlooking of more ‘traditional channels’ but the rules haven’t changed. It’s not an either or, it’s about an omnichannel approach to achieve your targets. The point is why overlook a channel which is cost effective, and we know customers will respond to it. Statista’s email marketing research has found that 49% of customers would like to receive promotional emails from their favourite brands on a weekly basis. What It’s Good For It’s a powerful tool to build relationships, connect with audiences and drive sales. Email marketing enables you to identify and sharply define demographics, behaviour, and interests with remarkable accuracy. With the advent of a cookie less future and the importance of first party data it’s a way of nurturing your data to make marketing more effective. Email subscription is the most important type of relationship you can have with a customer. The Fundamentals… 1. Make It Personal It’s a word often overused but given you are entering a personal inbox, you need to think about who it’s going to and what they are interested in. 71% of consumers expect companies to deliver personalised experiences, according to McKinsey. By giving you their contact details, someone has a stronger relationship with you than if they followed you on Facebook so personalising your email can have a bigger effect. And it’s not about putting someone’s first name on everything, it’s about understanding engagement and buying behaviour and responding with content that’s relevant. 2. Automate The Hell Out Of It 70% of your email activity should be automated, leaving 30% for campaign activity. By automating such a significant proportion, you can fine tune the activity and save time and resource in marketing. 3. Get Your Data In Order Most email marketing falls at the first hurdle – the data. So, it’s important you get your house in order first to make your email marketing more effective. There are also hidden gems to uncover to inform your strategy. For example, we identified that 75% of a client’s base were only purchasing once from their beauty platform, and by getting 10% to convert to second purchase through email we could drive a six-figure benefit. We’ve seen some great results from following these 4 simple rules: Define goals and target audience. Create engaging content that’s relevant and contextual. Optimise for deliverability – don’t spam and be targeted. Test and analyse results – regularly review the data and don’t be distracted by open rates focus on engagement and revenue. In Practice – Reigniting Sales For A Web Development Agency Challenge With a large but underused database of 12,000 – large but underused. Significant opportunity in the existing base to promote underexposed services and remind clients of available offerings such as hosting and email marketing. Approach We revived CRM activity with three timely, contextual emails: A response to the M&S cyber incident, highlighting their secure hosting services. A message showcasing their email marketing capabilities, focusing on ROI. A briefing on recent Shopify upgrades and how they impact existing clients. Results Immediate enquiry for hosting services New client won for email marketing Further meeting booked to discuss platform strategy Final Word Keep it simple. Keep it relevant. Email is one of your most powerful marketing assets – and it’s being underutilised by too many businesses. About the Author - Tim Gambrill is the Co-Founder of Mighty Atoms and if you’re not sure where to start, or how to unlock the full potential of email, by being ‘channel agnostic’ and data focused a Fractional CMO or Fractional Marketing Director can help you turn it into a sales machine. Find out more by visiting their website here

With 80% of UK SMEs classified as family-owned and SMEs contributing 60% of UK employment and 48% of business turnover, it has never been more important to develop and maintain a strong market position. Niki Sterling , a multi-channel growth specialist who excels in identifying hidden pockets of growth and defining distinctive strengths within businesses, shares her insights on why crafting your competitive advantage is essential for long-term success. For family businesses, winning is not just about outperforming rivals—it’s about standing out, building on unique strengths, and securing a lasting legacy for future generations. Unlike large corporations that rely on scale and resources, family businesses have a unique edge: their ability to build strong customer relationships, produce high-quality products, create a trusted brand, and—most importantly—leverage their values and culture in ways that cannot be replicated. This differentiation can be a game-changer in driving additional sales and profitability. But in an increasingly competitive world, how can your family business not only survive but thrive? The answer lies in setting yourself apart, leveraging what makes you unique while staying ahead of industry shifts. What Is Competitive Advantage? Competitive advantage is what makes your business the first choice for customers. It means offering better value—either by being more cost-effective or by providing superior quality, service, or innovation. There are two main ways businesses gain a competitive edge: • Cost Leadership : Becoming the most cost-efficient provider in your market. • Differentiation : Standing out through quality, innovation, service, or a unique brand identity. While big corporations often win on cost, family businesses excel at differentiation—providing personalised service, deep community ties, and an authentic brand that larger competitors simply cannot replicate. How To Build & Sustain A Strong Market Position In A Family Business Understanding Your Competitors One of the biggest mistakes small businesses make is assuming their competitors are only those offering similar products or services. In reality, competition comes from anywhere customers can spend their money instead of with you. For example, a family-run optometry practice might think its main competition only comes from the multi-nationals or online retailers offering cheaper prices when often the cheapest prices visible are linked to volume. But what about other family run opticians who are offering value added services? To stand out, you must: Understand who your real competitors are, learn their strengths and weaknesses and identify the gaps in the market where you can excel. Example: A family-owned bakery in Yorkshire faced tough competition from supermarket chains. Instead of trying to match their pricing, they focused on differentiation—offering artisan, handmade bread, personalised celebration cakes, and in-store baking classes. Their commitment to quality, heritage, and customer experience turned them into a local favourite, allowing them to charge premium prices while still thriving against larger competitors. The Power Of Differentiation For most family businesses, success isn’t about being the cheapest—it’s about being the best at what you do. To differentiate successfully, focus on: Exceptional Customer Service – Your ability to build long-term relationships is a superpower. Quality & Craftsmanship – Customers will pay more for products with a personal touch. A Strong Brand Story – People love businesses with authenticity and history. Community Engagement – Customers support businesses they feel connected to. Example: A family-run coffee roastery in London struggled against global coffee chains. Instead of competing on price, they focused on sourcing ethical, single-origin beans, offering coffee subscriptions, and hosting barista workshops. By positioning themselves as specialists rather than just sellers, they built a loyal customer base and carved out a profitable niche in a crowded market. Balancing Costs Without Losing Quality While differentiation is key, keeping costs under control is equally important. Unlike large corporations, family businesses don’t have endless financial backing, every penny counts, so think about the following: Streamline operations – Improve efficiency without cutting corners. Negotiate with suppliers – Leverage long-term relationships for better pricing. Invest in what makes you unique – Reduce costs in areas that don’t affect customer experience. Instead of lowering prices to compete, focus on increasing perceived value. Customers will pay more for an experience, product, or service they feel is worth it. Adapting To Change & Future-Proofing Your Business One major advantage family business has over corporate giants is agility. Without layers of management and red tape, you can quickly adapt to industry trends and customer needs. To stay ahead: Keep up with industry trends – Technology, customer habits, and expectations evolve. Find new ways and channels to reach customers – Consider eCommerce, digital marketing, or subscription models. Don’t let tradition hold you back – Heritage is valuable, but innovation keeps you relevant. The most successful family businesses balance tradition with innovation, ensuring they remain competitive without losing their identity. Time To Take Action To increase profits, build a strong brand, and stay ahead of competitors, now is the time to take action. Understand your market and competitors Define what makes your business unique Lean into differentiation and own your niche Reduce costs strategically without sacrificing quality Stay ahead by adapting and innovating Family businesses aren’t just about today’s success—they’re about creating a lasting legacy. Build your market advantage the right way, and your business will thrive for generations to come. Your competitive edge lies in what makes you different, not just in what makes you better. Large corporations may have size on their side, but family businesses have heart, heritage, and flexibility—qualities that customers value more than ever.

Family businesses are the lifeblood of many economies around the world. From local stores and small enterprises to global corporations like Walmart or Tata Group, these businesses not only drive innovation and growth but also reflect a unique blend of personal and professional values. At the heart of family businesses are the foundational family values that define their culture, guide decision-making, and influence their longevity. Family Values As The Bedrock In family businesses, core values such as trust, loyalty, integrity, and long-term thinking take centre stage. These principles shape everything from day-to-day operations to major strategic decisions, creating a framework that prioritises relationships and sustainability over short-term profits. This intrinsic value system fosters a sense of unity, stability, and purpose among family members, employees, and even customers. Trust and Loyalty : In any business, trust is crucial. However, in family businesses, trust runs deeper due to the personal connections shared by family members. A shared history creates a level of mutual reliance that enables honest communication and cohesive decision-making. Trust within the family unit extends to employees and customers, fostering a transparent work environment that prioritises loyalty over purely transactional relationships. In a corporate world driven by competition and rapid change, family businesses often stand apart by emphasising long-term relationships with clients, suppliers, and employees. The loyalty inherent in family businesses promotes continuity, which in turn nurtures the company’s reputation for reliability. Long-Term Thinking and Stability : One of the key differences between family-run businesses and non-family businesses is the emphasis on legacy. Non-family businesses often focus on quarterly results and short-term gains, while family enterprises think in terms of generations. This focus on long-term success influences strategic decisions that prioritise sustainability, innovation, and the health of the business over decades, not just years. For example, many family-owned businesses are less likely to take excessive risks or engage in practices that might harm their reputation, as they see the business as a legacy to be passed down. This future-focused approach ensures stability, and it’s why many family businesses have survived multiple economic downturns when other companies have folded. Nurturing a Strong Work Ethic and Responsibility Another key value in family businesses is the cultivation of a strong work ethic. Children who grow up in family businesses often experience the business firsthand, from small responsibilities as teenagers to eventually taking on leadership roles as adults. This early immersion instills a deep sense of responsibility and commitment to the family’s entrepreneurial vision. As a result, younger generations often bring fresh energy and ideas to the business, while respecting the company’s history and values. This multigenerational perspective creates a cycle of innovation and tradition. Younger family members may modernise operations with technology or new management practices, but their changes are often tempered by an understanding of the legacy they’re building on. This dynamic of respecting tradition while encouraging innovation has been key to the survival of many long-standing family businesses. Preserving Identity and Culture Family businesses are deeply rooted in their culture and identity, which can often be traced back to the founders. This connection to the past gives the business a unique story and identity, which serves as a competitive advantage. Customers are often drawn to family businesses because of their authenticity and heritage. Whether it’s a local restaurant known for generations of home-cooked meals or a luxury brand with a history of craftsmanship, the story behind the family business creates a strong emotional connection with consumers. This emotional connection isn’t just about branding, it’s about the consistency and passion that the family brings to the table. Family members often see their business as more than just a job—it’s part of their identity. This personal investment in the company’s success often means that they are more involved in the finer details, providing a level of care and commitment that is harder to find in non-family businesses. Challenges of Balancing Family Dynamics and Business Needs Despite the many advantages of family values in business, there are challenges as well. Personal relationships can sometimes complicate professional ones, especially when family members have different visions for the future of the business. Succession planning is one of the biggest challenges family businesses face, as transitioning leadership from one generation to the next can be fraught with tensions over control, vision, and fairness. Clear communication and a shared vision are essential to overcoming these challenges. Many successful family businesses have formalised their decision-making processes, separating family governance from business governance, to ensure that business decisions are made based on merit rather than family hierarchy. Additionally, businesses that successfully navigate the generational transition often do so by balancing respect for the founding generation’s values with openness to the ideas and leadership of the next generation. Those that fail to strike this balance risk family conflicts spilling into the business or younger family members becoming disengaged. Values that Matter According to our own research here at Family Business United where we asked the UK family business community what they considered to be the most important values to them, the key values in family businesses today are: 1 – Integrity 2 – Quality 3 – Trust 4 – Passion 5 – Fairness 6 – Respect 7 – Social Responsibility 8 – Excellence 9 – Authenticity 10 – Innovation 11 – Long Term Perspective 12 – Forward Thinking 13 – Pride 14 – Entrepreneurship 15 – Community Involvement Values as a Legacy Ultimately, family values in family businesses are a legacy in themselves. As a family business grows and evolves, it is the underlying values passed down through generations that keep the business rooted and resilient. These values serve as a compass, guiding the family through tough times and ensuring that their success is more than just financial. The longevity of many family-run businesses—some lasting centuries—can often be traced back to a strong value system that outlives any one individual. Whether it's through preserving a family’s commitment to quality, fostering relationships with employees, or planning for future generations, family businesses offer a unique model of success grounded in values that transcend profit. In a world increasingly driven by short-term results and quick returns, the family business stands as a testament to the power of enduring relationships, responsible stewardship, and the value of legacy over time. As the economy and business world continue to evolve, the family business remains a cornerstone of continuity, proving that when values are woven into the fabric of an organisation, they can indeed create something that lasts.

In today's digital age, social media is an indispensable tool for businesses of all sizes. For family-owned businesses, leveraging these platforms can be particularly beneficial. They provide a cost-effective way to connect with customers, build brand loyalty, and expand your reach. Here’s how you can make the most of social media for your family business, along with essential tips for success. 1. Choose The Right Platforms Not all social media platforms are created equal, and each one serves different purposes. Focus on the platforms where your target audience spends most of their time. For instance: Facebook: Great for community engagement and sharing detailed updates. Instagram: Ideal for visually-driven businesses, such as those in retail, food, or lifestyle sectors. LinkedIn: Perfect for B2B businesses or those looking to connect with other professionals. X (formerly known as Twitter): Useful for real-time updates and customer service. 2. Create A Consistent Brand Voice Your brand voice should reflect your family business’s values and personality. Whether it’s warm and friendly, professional, or quirky, maintaining consistency across all platforms is key. This helps in creating a recognisable and trustworthy brand. 3. Share Your Story People love stories, and your family business likely has a rich history or unique founding tale. Share your story to connect with your audience on a personal level and build the narrative into your social media messages as this will help to build trust and differentiate your business from the non-family owned business community. Ways that you can do this could include: Sharing details of the history and the origins of your business. Recognise and celebrate milestones and achievements. Behind-the-scenes glimpses of what you do and the team engaged in doing it. 4. Engage With Your Audience Social media is not just a broadcasting tool but a platform for two-way communication and it is at its most powerful when you fully engage in dialogue. Engage with your followers by: Responding to comments and messages promptly. Asking for feedback and suggestions. Creating interactive content like polls, Q&A sessions, and contests. Follow your customers and like, share and comment on their posts. 5. Post Regularly But Strategically Consistency is crucial, but so is quality over quantity. Develop a content calendar to plan your posts and ensure you’re posting regularly. Use analytics tools provided by the platforms to determine the best times to post and the types of content that resonate most with your audience and then post accordingly. 6. Utilise Visual Content Visual content tends to perform better on social media. Use high-quality images and videos to showcase your products, services, and family moments. There are plenty of tools available that can help you create visually appealing posts even if you don’t have a graphic design background. 7. Leverage User-Generated Content Encourage your customers to share their experiences with your products or services on social media. Reposting user-generated content not only provides social proof but also fosters a sense of community. Create branded hashtags to make it easier for customers to share and for you to find these posts. 8. Run Social Media Campaigns And Promotions Special promotions and social media-exclusive deals can drive engagement and sales. Consider running: Holiday or seasonal promotions. Giveaways and contests. Collaborations with influencers or other local businesses. 9. Monitor And Adapt Regularly monitor your social media performance using analytics tools. Track metrics such as engagement rates, follower growth, and click-through rates. Use these insights to adapt your strategy and improve your content and therefore allow you to invest time and effort into developing content on the right platforms that provide the biggest impact. 10. Stay Authentic Authenticity is crucial on social media. Be genuine in your interactions and transparent in your communications. Show the human side of your business, and don’t be afraid to share challenges and how you overcome them. Authenticity builds trust and strengthens your relationship with your audience. "Social media offers a powerful way to grow and promote your family business. By choosing the right platforms, maintaining a consistent brand voice, engaging with your audience, and staying authentic, you can create a strong social media presence that drives both engagement and sales." "Remember, the key to success is not just in broadcasting your message, but in building meaningful connections with your audience."

Should you join the growing number of family businesses that proudly promote the fact that they are (and have been) family owned – for decades, some even for centuries? Or do you prioritize your family’s privacy over leveraging your family’s involvement in the business for the benefit of a distinct family business brand? Drawing on evidence from research and practice, this article provides some insights as to the circumstances under which it makes sense to brand a company as family-owned.  Nearly everybody in Germany immediately recognizes Claus Hipp, a 3rd generation owner and a manufacturer of organic baby foods in Germany. Since the early 2000s he’s been the face of the company’s advertising. He’s since appeared in thousands of TV spots on national TV, talking about HIPP being a pioneer in organic production. Each spot closes with his signature line: “For this, I vouch with my name” [Dafür stehe ich mit meinem Namen]. And HIPP is in good company: A growing number of family business owners are promoting the fact that they are (and have been) family-owned, for decades and some even for centuries. These family firms are banking on the possibility that their stakeholders appreciate the fact they are family-owned, and that the notion of family gives them a competitive edge over their competitors without any family involvement. They do so for good reason: Prior research substantiates the intuitively appealing assumption that family firms have a superior reputation ( e.g., Craig, Dibrell, and Davis, 2008; edelman.com ). Several studies indicate that key stakeholders hold distinct associations with family-owned companies, viewing them as relatively more trustworthy, reliable, authentic, quality and customer-oriented than their non-family counterparts ( e.g., Binz, Hair, Pieper, & Baldauf, 2012). However: Family business branding is hardly a magic bullet for family-owned companies. Evidence shows that context matters – a distinct family business brand may work well for some family firms, but not for others. If the notion of family adds no value to your stakeholders, or if your family shies away from the heightened scrutiny that comes with a family-based brand identity, branding yourself as family-owned can come at a cost. Signalling Family Involvement: Sender's And Receiver's Perspective What is a family business brand, or a family-based brand identity? Through a family business brand a company actively communicates the family’s involvement in the business. Prior research has largely focused on the receiver side of the family business brand, investigating the distinct associations and expectations it creates in the minds of relevant stakeholders, such as customers or employees. These perceptions are shaped by the individual’s general attitude towards the notion of “family” and the associations they hold with the idea of “family business.” One customer might view family-owned companies as trustworthy and responsible, while another views them as outdated and resistant to change; one job-seeker might perceive them as loyal and long-term oriented, while another might be skeptical about a possible lack of transparency, or nepotistic tendencies. Just like with any other messaging, however, we must consider not only the receiver, but also the sender's perspective on the family business brand. Here, we must think about whether (and how) the notion of family fits with our offering and existing messaging – in other words, how does the family add value to our brand? What is more, we have to be sure that the family is willing to tolerate the heightened scrutiny that comes with becoming a representative of the business, and part of the brand identity (Binz Astrachan & Astrachan, 2015). In sum, we must understand how our key stakeholders perceive family involvement, in both positive and negative ways. Various stakeholders might value the family business’s strong customer or quality orientation, or they might see family involvement as a sign of nepotism and resistance to change. Only then can the family design a brand identity that leverages the positive, while mitigating some of the potentially negative perceptions. At the same time, family members must be ready to become ambassadors for that brand, and to embrace messaging that conveys how the family adds value to the company and to the stakeholders. How To Design A Compelling Family-Based Brand Identity Companies such as US conglomerate SC Johnson (“A family company”), Italian wine-maker dynasty Marchesi Antinori (“26 Generations”), or Warburtons (“Family Bakers”), a family-owned bakery in the UK, all put family at the heart of their corporate brand. While they all highlight the owning family’s involvement as a key element of their business success, they do so very differently. Antinori’s narrative focuses on the expertise that the family has built, and passed down over 26 generations, while the Johnson family states that because they are family-owned, they can “do what’s right for people and the planet” ( scjohnson.com , May 2021). Warburtons state their dedication to quality and highlight that “they care because their name’s on it ." Family firms differ “in the extent to which the focal element of the branding strategy was the family, the [offering], or the organization” (Micelotta & Raynard, 2011). While smaller and older family firms with less geographical reach have been found to be more likely to brand themselves as family-owned than larger, younger, and globally operating companies, the examples provided above show that a family-based brand identity can work for companies of any size. What matters is that the value the ownership group adds to the business is ultimately meaningful to the stakeholders -- that is, to the individuals who purchase their products and services, who apply for their job openings, or who agree to do business with them. What’s also interesting is that depending on the audience, different aspects of family involvement might resonate with them. William Grant & Sons did extensive research before launching a family business brand for their Glenfiddich Whisky in 2013. Results from Asia showed that potential customers did not care much for family ownership, but that they really liked the notion of family management, and since William Grant & Sons was, indeed, a family-run business, they decided to changed their tagline from the original “Family Owned” to “Family Run Since 1887.” Interestingly, they only use the notion of family selectively in their corporate branding – they found that while some customers highly appreciate it, that it doesn’t work so well for some of their other brands. William Grant & Sons is an outstanding example of systematic family business branding: They took the time to identity how the notion of family resonated with different audiences and adopted a very differentiated branding strategy across their product portfolio. Once we have identified what matters to our key stakeholders, we need to make sure that the family is aligned behind the brand messaging, and supports the move to using the family as a key element of the corporate of product/service brand. Not all family members may appreciate the heightened scrutiny that sometimes comes with a distinct family business branding strategy, and hearing and acting upon individual family members’ concerns is crucial in establishing a firm foundation for your own family business brand. Three Keys To Successful Family Business Branding 1 - Know Your Audience A distinct family business brand can positively impact key constituencies such as customers or employees. However, it can also lend to negative associations such as smallness and resistance to change, or nepotism and lack of transparency that might disenfranchise others ( i.e., lenders, suppliers, buyers). Before anything, you must first therefore determine how your key constituencies feel about the notion of family. Once you know that family involvement is generally considered positive, identify which expressions of family involvement they feel favorable about ( e.g., family ownership, family involvement in management, experience built over generations, strong local/regional/national roots, financial or strategic independence), and which expressions might trigger negative associations. These perceptions might differ not just within, but across cultures and stakeholder groups. 2 - Identify How The Family Can Add Value Once you have identified the ways in which the notion of family can add value to your brand, identify which ones feel most authentic and natural to your family. For example, you may be particularly concerned about quality because your product is part of your identity; your strong customer orientation is rooted in the family’s understanding of customers being part of the extended family. Ideally, these expressions align closely with your family’s identity -- your core values and objectives. Figure 1 below visualizes the sequential process of designing a family business brand, starting with the identity of the ownership group: The family identity (how you see yourself) is the core, the family firm brand image (how you want others – your stakeholders – to see you) is the middle layer, and the family firm brand reputation (how others – your stakeholders – see you) represents the outermost layer. In a first step, you need not only clarity, but also alignment around your family and your business identity: Who are you as a family, as an organization? What are your central values and objectives, and are these widely shared in the family and the business? If we lack a strong identity foundation, it becomes much harder to develop – and implement, let alone live! – a strong family firm brand. Once we have agreement on our identity foundation, we can move on to our family firm brand image, which focuses on how we would like others to see us. Here, we must think about things such as our family promise – what does our family bring to the table that helps us differentiate our offering in the marketplace? Warburtons , the bakery mentioned earlier, is run by three cousins, and they take quality control very seriously – to the point where every month, one of the three cousins pays a quality control visit one of their plants. They live their core value of quality orientation by personally assuring that their operations remain up to their standards. Lastly, we must keep track of how our stakeholders actually perceive us – our reputation - which is largely driven by how consistent our actions are with the way in which we portray ourselves; in other words, it pertains to the question of “ do we live our values?”   Figure 1: Family Business Brand Identity, Image, and Reputation Matrix (Binz Astrachan et al., 2018) Rally The Family And Bring Your Values To Life Putting the family at the center of one’s brand identity is not for everyone. A distinct family business brand depends on the family’s willingness to have a public profile, as it increases the visibility of and scrutiny on the owning family. A family business brand requires family members to consistently embody the brand promise – a responsibility all family members need to be in agreement with. Any kind of misconduct on the part of family members inside as well as outside the business can threaten the reputation of both the family and the firm, which could lead to damage for the family business brand (particularly if the family and business reaction are not managed in an authentic manner consistent with the family’s values and brand message). The family therefore needs to ensure that mechanisms are in place that allow them to respond quickly and adequately to any situations caused by escalated family conflicts or wayward behavior on behalf of family members that may be publicized. Lastly, increased visibility can also come with heightened risk for family members. Many entrepreneurial families around the world, particularly in countries that have significant political instability and corruption in law enforcement, have experienced traumatic incidents involving blackmailing or even abduction. It's clear that a family business brand rises and falls with the brand representatives’ ability to live the values they promote. When family members exemplify these values through their own behavior and by the examples that they set, it breathes life into the values that define the company and the family. Making values visible and tangible ensures that employees and other stakeholders are reminded regularly of what the company stands for. Final Thoughts Family-owned companies are in a unique position to leverage their family and company history, the outstanding contributions of family members that shaped the family business over decades, or their dedication to the long-term and the well-being of their many constituencies by means of a distinct family business brand. Given how a family business brand can push family members into the spotlight, however, it is not a decision that should be taken lightly – and it is most certainly a process that requires the engagement of all family members who will be affected by it. On the other hand, a family-based brand identity can foster family members’ family identification with the business, which can be particularly meaningful for family firms with larger, geographically dispersed and growing ownership groups.   You can portray your family involvement, and the uniqueness of your family, in many ways. And if you do it well, you might become a Twitter sensation just like Mel’s Lone Star Lanes in Texas, a bowling alley whose sign reads: “Family Owned. Shut Up. No, You Shut Up!” References: Binz Astrachan, C., Botero, I., Astrachan, J. H., & Prügl, R. (2018). Branding the family firm: A review, integrative framework proposal, and research agenda. Journal of Family Business Strategy, 9(1), 3-15. Binz Astrachan, C., & Astrachan, J. H. (2015). Family business branding: Leveraging stakeholder trust. London: Institute for Family Business Retrieved from https://blog.hslu.ch/familienunternehmen/files/2016/09/IFBRF-Branding-Report-Final-Web-Version-1.pdf Binz, C., Hair Jr, J. F., Pieper, T. M., & Baldauf, A. (2013). Exploring the effect of distinct family firm reputation on consumers’ preferences. Journal of Family Business Strategy, 4(1), 3-11. Craig, J. B., Dibrell, C., & Davis, P. S. (2008). Leveraging family‐based brand identity to enhance firm competitiveness and performance in family businesses. Journal of Small Business Management, 46(3), 351-371. Micelotta, E. R., & Raynard, M. (2011). Concealing or revealing the family? Corporate brand identity strategies in family firms. Family Business Review, 24(3), 197-216. About the Author - Claudia is an advisor and head of governance at Generation6 . She witnessed first-hand the devastating consequences of troubled family dynamics in her own family. Following her grandparents’ death, the family’s relational fabric became undone, leading to the sale of the family enterprise. She has also seen family business from the other side, with her father being a successful non-family CEO of 25 years at bio-familia, a family enterprise in rural Switzerland. After completing her business administration studies at the University of Bern in Switzerland, Claudia earned a Marketing traineeship at the largest Swiss bank, UBS. Amidst the financial crisis of 2008, she left the banking industry to take on a research and teaching position at Lucerne School of Business in Switzerland, while pursuing a Ph.D. at the family business institute at Witten/Herdecke University in Germany. Claudia has been leading the Family and Business Program at Lucerne School of Business since 2014, and continues to provide research-based and peer-oriented learning opportunities for family-owned companies in Switzerland even after her move to the United States in 2013. In 2019, she joined Andrew Keyt as the Head of the Governance Practice at Keyt Consulting – a role that she continues to hold at Generation6. In this capacity, Claudia worked extensively with the boards of some of the largest private family companies in the United States. Claudia’s research and practice are informed and shaped by her understanding of the role of family cohesion, effective communication and conflict management, and family and business governance that align with the values, culture, and objectives of the owning family. She has received awards for her research from scholarly and business organizations alike. Claudia is a board member of the International Family Enterprise Research Academy and a former family business chair at the European Academy of Management. She is a visiting scholar at Witten/Herdecke University in Germany, and an affiliated researcher at Jönköping University (CeFEO) in Sweden. This article first appeared on FamilyBusiness.org  and has been reproduced with permission of the author.

Almost every family business owner I meet agrees that succession is important. They say it with conviction. The next breath is usually something like, “We will get to it when things are a bit quieter.” Or “We all know roughly what the plan is.” Or simply, “Not yet.” It is not that families do not care. They care deeply. It is that succession touches something far more personal than most other decisions a business has to make. It raises questions about identity, ageing, purpose, fairness, relationships and what happens when long-standing roles begin to change. No strategy document can remove that. Succession is emotional before it becomes practical. And unless that is acknowledged, even the most sensible plan can stall. What follows is a grounded look at the human realities that sit beneath every succession discussion in a mid-market family business. These are the patterns I see every week. 1. Stepping Back Is Harder Than It Sounds People often think of succession as a simple handover. In reality, stepping aside as a founder or long-serving leader is rarely straightforward. If the business has been part of your life for thirty or forty years, it is not just a job. It is the rhythm of your week. It is where your relationships sit. It is where your reputation was built. Stepping back means redefining who you are and where you put your energy. Leaders often say they are not worried about letting go of power. What they are really unsure about is what comes next. Purpose is hard to replace. A founder once said to me, “I am happy to step back, I just do not know how to have a good Monday without this place.” That is not resistance. It is honesty. And it is very common. 2. When Plans Are Unclear, People Fill The Silence If succession is delayed or talked about vaguely, uncertainty begins to seep into the organisation. It is rarely dramatic, but you can feel it. Senior staff start reading signals The rising generation wonder whether to wait, push or step back Non-family executives quietly ask themselves if they have a future Good people hesitate to commit to long-term plans All of this happens behind closed doors. No one wants to be the one to raise it. But silence becomes a story, and stories quickly become assumptions. A short, honest conversation can steady a business. Without it, energy drifts, confidence softens and people begin to guess instead of knowing. 3. The Rising Generation Carry A Weight They Rarely Show From the outside, it often looks as if the rising generation are eager to take over. On the inside, it is usually more complicated. We hear things like: “I want more responsibility, but I do not want to look like I am pushing Mum or Dad out.” “I want to modernise the business, but I do not want people to think I am criticising the past.” “I feel I have to prove myself twice, once to the team and once to the family.” “If I say I am not ready, will they think I am not committed?” Most of this is never said out loud, but it shapes confidence, behaviour and relationships. A healthy succession process recognises this pressure and gives the rising generation room to develop without fear of judgement. 4. Non-Family Executives Become The Quiet Casualties Of Unclear Plans Family businesses depend heavily on strong non-family leaders. Many have been with the business for years and are trusted deeply. But when succession is uncertain, these leaders often feel the most exposed. They wonder whether the next generation will trust them, whether their role will change and whether the balance of decisions will shift. They rarely say any of this. They simply start to consider other options. Often quietly. The irony is that these individuals are usually essential to a stable transition. Keeping them engaged requires clarity, respect and early communication. Not knowing is what unsettles them. 5. Choosing Between Family Members Is More Delicate Than Most Admit When more than one family member is involved, succession becomes even more emotionally charged. Parents want fairness. They want harmony. They want to avoid hurting anyone. They want the family to stay together long after the business passes to the next generation. So decisions are often softened, delayed or left open. Everyone remains “in the running” which feels polite but ultimately leaves no one prepared. The families who handle this well put time into understanding each person’s strengths, motivations and suitability long before a decision is needed. Clarity protects relationships better than avoidance ever can. 6. Shadow Leadership Can Quietly Derail The Successor Even after the handover, some leaders stay involved in ways that confuse the organisation. They do it out of care, not control. They want to protect the business. They want to make sure decisions are thought through. But if the outgoing leader continues to influence key decisions, people naturally defer to them. The successor’s authority softens. The organisation receives mixed messages. Confidence weakens. Stepping back does not mean disappearing. But it does require agreement about boundaries, roles and when involvement is helpful rather than unhelpful. The most successful transitions define this early and revisit it often. 7. Legacy Matters, But It Can Become Restrictive Leaders care deeply about what the business stands for after they leave. They want continuity, loyalty to the past and respect for what has been built. This is their legacy . This commitment is positive, but it can slip into overprotection. Some leaders delay succession because they fear their work will be undone Others choose a successor who thinks and acts exactly as they do Some hold onto day-to-day involvement longer than is helpful The strongest transitions separate the values that must endure from the habits that may no longer serve the future. Values stay. Ways of working evolve. That distinction matters. 8. Why Families Avoid Succession Even When They Know It Is Time These are the five most common reasons families hesitate to begin the real succession conversation: There is still plenty of time.” “I do not want to create tension in the family.” “We are too busy to think about this properly.” “We should wait until things settle.” “I do not want people to think I am stepping aside.” All understandable. All human. But all carry consequences. The longer succession is postponed, the more emotional the decision becomes. 9. The Families Who Manage Succession Well Share Three Traits Across the businesses I work with, the most effective transitions have three things in common. Trait 1 - They start the conversation early Succession is not an announcement. It is a journey. Beginning early removes pressure and creates space for development and clarity. Trait 2 - They communicate openly Even partial clarity is better than silence. When people know the direction of travel, they stop guessing. Trait 3 - They involve the right people Succession is not one person’s burden. Boards, non-family executives and advisers all play a role. Shared responsibility makes the transition steadier. A Final Thought Succession is not only about the next leader. It is about the future of the business and the future of the family. When handled early and openly, it strengthens both. The true measure of leadership is not how long someone stays at the top. It is what continues to thrive after they step back. And for many family business owners, that is the legacy that matters most. About the Author - David Twiddle, Managing Partner at TWYD & Co ., works closely with founders, family businesses and family offices on leadership appointments, succession and alignment. He has spent more than twenty years advising on people and leadership, with a particular focus on the moments where families face key decisions about the future.

Owning a valuable art collection is a source of immense pride and personal satisfaction, but it comes with responsibilities that go far beyond curation and display. One of the most important—and often overlooked—tasks for collectors is ensuring their treasures are properly insured. In a market where works of art can be worth millions and provenance disputes are increasingly complex, having the right coverage is as essential as selecting the right piece for your gallery wall. Understanding the Risks Art collections face a range of risks, from physical damage to theft or natural disasters. Fire, flood, accidental impact, or even changes in humidity can irreparably damage delicate works, while high-profile thefts make headlines around the world every year. In addition, art is a uniquely illiquid asset: the time required to value, replace, or repair a damaged piece can be considerable, and in many cases, certain works are irreplaceable. Collectors must also be aware of less obvious risks. Loaning pieces to exhibitions, for example, increases exposure to damage or loss, while transporting art—even between private residences—presents its own hazards. Moreover, market fluctuations can dramatically alter the value of a collection, which makes periodic reassessment of insurance coverage vital. Types of Insurance Coverage When insuring an art collection, there are several types of coverage to consider: All-Risks Insurance: Often regarded as the gold standard, all-risks policies cover damage or loss from a wide range of perils unless specifically excluded. Policies can be tailored to cover individual items or entire collections. Agreed Value vs. Market Value: Agreed value means the insurer and owner agree on the artwork’s value at the time of underwriting, providing certainty in the event of a claim. Market value policies pay out according to the value of the piece at the time of loss, which can fluctuate significantly, especially for contemporary or emerging artists. Transit and Exhibition Coverage: Special policies are available to protect art while in transit or on loan to museums, galleries, or exhibitions. These policies often include coverage for packing, handling, and temporary storage. Legal and Provenance Protection: Some insurers provide coverage for legal disputes over ownership or provenance, an increasingly important consideration as the art market becomes more global and complex. Valuation: The Foundation of Good Insurance Accurate valuation is critical. Insurers typically require professional appraisals from recognised experts. It is not sufficient to rely on purchase price alone, as the market value can evolve quickly. Regular revaluation—every two to three years—is generally recommended to ensure that coverage keeps pace with changes in the market. Practical Considerations Insurance premiums are influenced by a range of factors: the type of art, total value, security measures, storage conditions, and even geographic location. Many insurers now offer guidance on risk mitigation, including climate-controlled storage, secure display cases, alarms, and CCTV. Such measures can reduce premiums and, more importantly, protect the collection. It is also wise to maintain meticulous records: photographs, invoices, provenance documents, and condition reports. In the event of a claim, thorough documentation can expedite settlement and strengthen legal standing. Working with Specialists Art insurance is a niche market. General household or commercial policies rarely provide adequate protection for high-value or rare items. Specialist art insurers, brokers, and independent valuers can provide bespoke advice, ensuring that coverage aligns with the collector’s objectives and the nature of the collection. A Balancing Act Insuring an art collection requires balancing protection with practicalities. Over-insurance can be expensive, while under-insurance exposes collectors to catastrophic loss. As with the curation of the collection itself, a considered, strategic approach is essential. In the end, insurance is about more than financial reimbursement; it is about safeguarding a legacy. Art connects us to culture, history, and creativity, and for collectors, the right insurance policy ensures that these treasures endure—secure, valued, and appreciated—for generations to come. Lee Boswell, Director of UK based insurers Alan Boswell Group shares five tips for consideration when insuring art: "An art collection is a prime example of why off-the-peg, one-size-fits-all insurance policies aren't always the most suitable. If nothing else, every art collection is different and the value of individual pieces can vary widely. An independent broker can offer a bespoke solution based on the items owned, the circumstances under which they are kept and so on." "Getting a personal one-to-one service with an insurance broker who knows something about the subject means that accurate valuations are more likely, and you can feel reassured that the value of your collection is appreciated and understood," adds Lee. Five considerations when thinking about insuring an art collection: 1. Choose the most suitable cover Some insurers might consider "an art collection" to be a homogenous thing covered by a standard policy, but art needn't always be paintings hanging on a wall. Your collection might include antiques, sculptures or even comic books. Finding someone who understands what you're talking about is the first step in arranging the right cover for your collection. 2. Re-value regularly It's important to have regular valuations of your collection and to be aware of what the most valuable pieces within it are. Ideally this should be done ahead of each year's policy renewal, to give the insurer and you plenty of time to agree on the levels of cover is required. 3. Automatically cover new acquisitions Some insurance policies will automatically cover you for up to 25% more when you buy new pieces, which is a good idea if you are actively buying. Of course, you should still keep your insurer informed of new additions and have them individually valued as soon as possible. 4. Increase on death Some insurers will apply an automatic increase to the sum insured of a piece, following the death of an artist. The amount of the increased cover can vary from insurer to insurer. You should arrange to have the piece independently re-valued in the wake of the death as well, to ensure the coverage is adequate. 5.Defective title cover As well as having your collection protected against theft or damage, you should also make sure you are insured against the risk of being sold a stolen piece of art, which is known as defective title cover. This will cover you if you are legally obliged to return this item to its rightful owner and will reimburse you up to the value of that item.

Entrepreneurs are more likely to consider property investment rather than a pension to build their wealth, according to research from Brown Shipley, a Quintet private bank. The survey among entrepreneurs and wealthy individuals in the UK found that entrepreneurs are more likely than wealthy individuals overall to have amassed wealth through investment in property, and less likely to have done so through a pension. Almost a third of entrepreneurs (30%) state that property investment is a main reason for their wealth, compared to 21% for wealthy Brits overall. While 44% of wealthy individuals in the UK highlight their pension as a main reason for their wealth, this falls to 28% for entrepreneurs. Property investment (30%) and inheritance (31%) are the second most cited reasons for wealth among entrepreneurs, preceded only by salary, for which around half of entrepreneurs (51%) say is a main reason for their wealth compared to 64% for wealthy Brits overall. Over a quarter (27%) of entrepreneurs say that entrepreneurialism and proceeds from a business are a key reason for wealth. More than one in six entrepreneurs (15%) say that a lottery win or gambling has had a material positive impact their levels of wealth, almost double the amount for wealthy individuals in the UK overall (8%), suggesting they may take a different approach to risks with their finances. Just over half of entrepreneurs (51%) plan to use their wealth to provide an income in retirement, versus 61% for wealthy individuals on the whole. Gordon Scott, Head of Client Solutions at Brown Shipley, said: “There is an obvious additional financial risk that comes with working for yourself, with capital tied up in the business and director salaries dependent on business performance, which may explain why many entrepreneurs look to bricks and mortar for broader wealth generation. For the same reason, some entrepreneurs might be less willing to put their money into other companies through a pension, which will tend to be primarily invested in stocks and bonds.” “Working for yourself can mean that some of the more traditional ways of saving for the future and amassing wealth – such as a pension – can be forgotten. Entrepreneurs, by their nature, will have a lot of their potential wealth tied up in their business endeavours. Business planning can often overtake personal wealth planning, but it is important to ensure the two align." "We encourage our entrepreneur clients to look at their wealth and plans holistically, and ensure they are managing risks and making the most of tax allowances, such as those offered through pensions.”