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

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

Family-owned businesses are the backbone of many economies, driving innovation and long-term growth. Yet, as these firms grow, the complexities of governance, management, and succession planning often require the expertise of professionals outside the family. Recruiting non-family directors and executives can be a strategic move for family businesses, ensuring that the enterprise remains competitive, sustainable, and adaptable. However, this decision brings its own set of challenges and opportunities. Why Consider Non-Family Executives? Professional Expertise Non-family executives bring valuable skills and experience that complement the strengths of the family leadership. Often, family members may lack the specialized knowledge required to navigate certain stages of business growth, such as international expansion, digital transformation, or regulatory complexities. By hiring professionals with specific expertise, family firms can enhance operational efficiency, strategic direction, and innovation. Objectivity and Fresh Perspectives Family firms can sometimes be insular, with decision-making influenced by long-standing family dynamics and emotions. Non-family directors and executives offer a level of objectivity that can be difficult for family members to maintain. Their independence can help challenge entrenched thinking and introduce new ideas that drive the business forward. This outside perspective can be crucial in avoiding groupthink and making tough, data-driven decisions. Succession Planning and Continuity One of the biggest challenges for family firms is managing succession. Family members may not always be interested in, or prepared for, leadership roles. Bringing in non-family leaders can ensure that the business has strong management in place even when there is a gap in family leadership. These executives can serve as stewards of the business during transitional periods, helping to train and mentor the next generation of family leaders. Investor Confidence For family businesses looking to attract external investors or partners, having non-family executives on board can signal stability and professionalism. Investors often appreciate the presence of independent leadership, as it demonstrates a commitment to sound governance and mitigates risks associated with family conflicts or nepotism. This can also lead to better relationships with banks, customers, and suppliers, who may view the business as being more transparent and well-managed. Challenges of Recruiting Non-Family Leaders Despite the advantages, bringing in non-family directors and executives is not without challenges. Family businesses must carefully manage the integration of non-family professionals into the company culture. Cultural Fit Family firms often have unique cultures built around shared values, traditions, and a long-term vision. It can be challenging for non-family executives to navigate these dynamics, especially if the culture is tightly controlled by the family. Ensuring a good cultural fit is crucial to the success of any non-family hire. It’s important to find individuals who respect the company’s history and values, while still bringing in fresh perspectives. Balancing Family Interests and Business Needs In many family businesses, the interests of the family and the business are closely intertwined. Non-family executives may face difficulties in balancing these sometimes conflicting priorities. For example, decisions that are in the best interest of the business, such as reducing dividends or restructuring the organization, may not align with family members' personal goals. It’s essential to establish clear governance structures that outline the roles and responsibilities of both family and non-family executives to avoid potential conflicts. Resistance to Change Family firms can be resistant to change, especially if the company has been run by the family for generations. Introducing non-family executives may be seen as a challenge to the family’s authority or a threat to tradition. Overcoming this resistance requires open communication, trust-building, and demonstrating the value that external professionals bring to the table. Having a clear vision for why non-family leaders are being brought in—and how they will complement, not replace, the family’s role—can ease this transition. Compensation and Retention Attracting top-tier non-family executives often requires competitive compensation packages, which may differ from the traditional salary structures in family firms. Family businesses must be willing to offer market-rate compensation, including performance incentives, bonuses, and equity options, to retain high-calibre professionals. However, this must be balanced with internal equity and the expectations of family members, who may not always understand the need for higher compensation for non-family leaders. Best Practices for Recruiting Non-Family Directors and Executives Define Clear Roles and Responsibilities Before bringing in non-family executives, it’s critical to define clear roles and responsibilities, both for family members and non-family leaders. This includes establishing clear reporting structures, decision-making processes, and governance frameworks. A well-defined structure helps avoid confusion and ensures that everyone is aligned toward the same goals. Conduct a Thorough Search Process Recruiting non-family executives requires a rigorous search process. Family firms should consider using professional executive search firms that specialize in family business dynamics. These firms can help identify candidates who not only have the necessary skills and experience but also understand the unique challenges of working in a family business. Onboarding and Integration The onboarding process is crucial for the success of non-family executives. This involves not only familiarizing them with the business but also helping them understand the family’s values, history, and culture. A mentorship program, where family members work closely with non-family executives, can help foster relationships and ensure smooth integration. Establish Open Communication Open and transparent communication is essential in family businesses. Regular family meetings, where non-family executives can participate, are important for ensuring alignment between the family’s vision and the business’s strategic direction. Additionally, non-family executives should feel comfortable providing feedback and raising concerns without fear of reprisal. Embrace Governance Structures Many successful family businesses establish formal governance structures, such as a family council or advisory board, to provide a platform for both family and non-family members to discuss business matters. Independent directors can also play a key role on the board, providing guidance and oversight that balances family interests with the long-term success of the business. Recruiting non-family directors and executives is a crucial step for family-owned businesses looking to scale, professionalise, and secure their future. While the decision comes with its own set of challenges, the benefits of bringing in external expertise far outweigh the risks. By embracing professionalism, fostering open communication, and maintaining a clear vision, family firms can create a leadership team that not only preserves the family legacy but also drives the business toward sustained success and growth.

Retailers reported marginal growth in sales volumes in the year to September, following a three-month-long downturn. That’s according to the latest CBI Distributive Trades Survey. Firms in the retail sector anticipate annual sales to continue growing next month, at a broadly similar pace. Key Findings: Retail sales volumes grew marginally in the year to September, following a three-month-long downturn (weighted balance of +4% from -27% in August). Retailers expect sales to grow in October at a broadly similar pace (+5%). Internet sales volumes bounced back in the year to September at the fastest rate since June 2023 (+18% from -15% in August). Online sales are expected to grow at an even quicker pace in October (+35%). Nonetheless, retailers reported disappointing sales for the time of year (-11% from -21% in August). Sales are expected to remain similarly weak by seasonal standards next month (-10%). Retail orders placed upon suppliers declined at a moderate rate in the year to September, following a rapid fall last month (-14% from -42% in August). Retailers expect to cut back on orders at a slightly slower pace next month (-10%). The total distribution sector (includes retail, wholesale, and motor trades) recorded a mild contraction in year-on-year sales volumes this month (-8% from -20% in August), with a similar decline expected in October (-7%). Martin Sartorius, Principal Economist, CBI, said: "After a challenging summer, retailers will welcome the modest growth in annual sales volumes this month. While some firms within the retail sector are beginning to see tailwinds from rising household incomes, others report that consumer spending habits are still being affected by the increase in prices over the last few years." "In contrast to the recovery seen in the retail sector, wholesalers and motor traders continue to see a decline in sales volumes, with businesses reporting concerns about a slow and uncertain market." "Retailers, alongside a host of other important sectors, are keen to see the government take long overdue action to address an antiquated business rates system that has become too complex, too unpredictable and is, ultimately, unfair on many firms." In addition, data from the survey showed: Retailers reported that stock volumes were “too high” in relation to expected demand in the year to September (+19% from +14% in August). Stock positions are set to remain similarly elevated next month (+20%). Wholesale sales volumes in the year to September fell at a similarly modest pace to last month (-8% from -7% in August) and are expected to decline at a broadly unchanged rate in October (-6%). Motor trades sales volumes reported a fast decline in annual sales, though at a somewhat slower pace compared to the sharp drop in August (-43% from -57% in August). Sales are expected to fall at a broadly similar rate next month (-42%).

The latest KPMG survey of 50 ESG specialists in 10 countries and territories reveals sustainability increasingly embedded in wider corporate strategies. Key Findings: Despite increasing maturity and focus on purpose-driven approaches, companies are having to adapt and flex to increasing ESG reporting requirements and an evolving regulatory landscape, and this has effects on their governance and organization Findings highlight that company structures have adapted to ESG, from the board level to the whole organization. The findings also suggest a growing need for group sustainability units to adapt to ESG’s increasing importance by taking a more strategic approach, working with other departments, and no longer trying to do everything connected with sustainability themselves. ESG and broader sustainability strategy have made their way to the top of board agendas in 2024, despite business leaders facing a bulging inbox of issues and challenges, according to new research from KPMG International. Chief Sustainability Officers from some of the world’s largest companies were interviewed for KPMG’s global survey on ESG governance and organization, to gain a deeper understanding of how companies are structuring their set-up and teams for sustainability and responding to a wave of new regulation and increased stakeholder and investor pressure for transparency on ESG. Almost all respondents reported high ambitions for ESG in their organizations, with half now viewing sustainability as a strategic issue that is embedded in core business operations. With ESG covering a wide area of societal and governance issues, the challenge for many businesses can be deciding what to prioritize. For many respondents, decarbonization and the race to net zero was the topic most-often included in their corporate ESG strategy, with diversity, equality and inclusion and human rights in the value chain the next most-mentioned theme. Nadine-Lan Hönighaus, Global ESG Governance Lead, KPMG International explains that "Sustainability is growing in strategic importance for companies, with increasing reporting requirements on environmental, social and governance (ESG) as well as other demands on the organization regarding sustainability. This creates challenges for the group sustainability units within organizations charged with ESG work. On one hand, such units must produce more material than they did 10 years ago while strategically developing and implementing work on a wide range of topics from climate to human rights." "On the other hand, the framework conditions for this work have become much more complex and the standards for implementation, reporting, mandatory auditing and governance requirements increasingly require a robust approach. KPMG’s research highlights that companies should (RC) start developing a clear analysis of the characteristics, strengths and weaknesses of their existing sustainability-focused organization and how effectively it supports their (A) ESG strategy, performance and reporting." Who leads on ESG? With ESG recognized by boards as a key issue, there is evidence of companies finding their feet on who makes the decisions on future strategy and the structures needed to measure, implement, and report effectively. About one-quarter of the organizations covered by KPMG’s research said they have a board level sustainability committee. A further fifth discuss it through committees that cover other topics, most commonly the audit committee. There was also evidence that ESG is a topic making its way into committees typically focused on management, innovation, remuneration and safety and culture. The question now facing many business leaders is who should make the ultimate decision on ESG as it increasingly becomes embedded in the fabric and purpose of a company. The chief executive officer is responsible for sustainability in almost half of organizations surveyed, with a dedicated chief sustainability officer as the second most-popular option. The remaining respondents revealed a wide variety of roles taking charge of ESG – from head of supply chain and manufacturing to the chief risk officer. Responding to rising regulation with better resources and a focus on remuneration Reporting on ESG has generally been a voluntary exercise, but some jurisdictions are in the process of making it compulsory, most significantly the European Union through its Corporate Sustainability Reporting Directive (CSRD). Nearly half of the organizations in this research plan to report in accordance with CSRD for their 2024 financial year, with nearly a fifth more planning to do so a year later. Nearly three-quarters of organizations in this research have six or fewer full time equivalent staff working on non-financial reporting, and more than half have three or fewer. Just over half said they expect to see an increase in this number, with most of the rest expecting numbers to stay about the same. Group sustainability units take sole responsibility for ESG reporting at more than half of the organizations in this research. It is shared between several department at a further quarter with written responses suggesting that most involve both sustainability and finance with some also including communications. Most of the rest make finance and accounting solely responsible, except for one where a communications and government affairs department runs reporting with an ESG unit in the finance group responsible for data quality. Just under half of the organizations in this research have ESG topics in their core corporate key performance indicators (KPIs), with more than a quarter more including them in management level performance reviews. Some respondents say that their organizations plan to increase such work, with one mentioning that they currently have a single indicator on carbon dioxide emissions intensity but plan to add more. Almost half of organizations interviewed produce internal indicators on a quarterly basis and several use monthly reporting for some measures. Annual is the most common frequency for external reporting used by more than three-quarters of organizations, with the remaining respondents doing so quarterly. ESG key performance indicators are used in calculating executive pay in a majority of the organizations in this research, with just over half using these for short-term incentives and two-fifths for long-term incentives. Just under half have between 16 and 25 percent of variable executive pay linked to ESG indicators. Looking to the future of ESG Sustainability professionals see their task becoming more and more a part of everyone’s job in the future. Some see the central function becoming smaller as individual business units take up work, while others believe that finance is likely to take over reporting on sustainability given its increasing importance. The result of these two trends is that group sustainability units need to become more strategic in outlook so they can provide oversight and guidance across the business and to the board. John McCalla-Leacy, Global Head of ESG adds; "Businesses have the opportunity to embed robust ESG and suitability governance by ensuring effective connectivity between functions - from finance to internal operations and supply chains - which can both help to (RC) enable compliance with reporting requirements and the identification of sustainable value creation opportunities through enhanced operational transparency and data driven insights." "As one respondent put it in this survey- ‘if we want to exist as a company in 10 or 20 years from now, we need to transform." The full report can be accessed here

Running a family business can be deeply rewarding, offering the opportunity to build and nurture a legacy across generations. However, it also brings unique challenges, as the blending of personal relationships and business operations can give rise to conflicts and disagreements. Unlike in non-family businesses, where disputes can often be left in the office, tensions in family businesses have the potential to spill over into personal lives, making it crucial to maintain harmony for both business success and family well-being. Effectively managing disagreement and maintaining harmony requires a combination of clear communication, proper governance, and emotional intelligence. Here, we explore the best ways to manage conflict in family businesses and ensure smooth relationships that foster both personal and business growth. 1. Establish Clear Roles and Responsibilities One of the most common sources of conflict in family businesses is the blurring of roles and responsibilities. Family members may feel entitled to certain roles based on their position in the family, rather than on their skills or qualifications. This can lead to power struggles, unclear expectations, and frustrations over who is responsible for what. Solution: Define Roles Clearly and Early To avoid confusion and resentment, it is essential to clearly define roles and responsibilities from the outset. Each family member involved in the business should have a specific job description, detailing their duties and how their performance will be measured. These roles should be based on merit and expertise, not family hierarchy. Setting these boundaries early on ensures that everyone knows their place in the business, preventing overlaps and misunderstandings. For example, if one family member is better suited to operations while another excels in finance, their roles should reflect these strengths. Documenting roles in a family business agreement or constitution can formalize the arrangement, ensuring clarity and accountability for everyone. 2. Develop Open and Transparent Communication Channels Poor communication is a significant cause of conflict in any organisation, but in family businesses, the stakes are even higher. Personal relationships can cloud business conversations, and assumptions or unspoken expectations can lead to misunderstandings. Without clear communication, small disagreements can quickly escalate into larger issues that affect both business performance and family harmony. Solution: Foster Open Communication and Regular Meetings To maintain harmony, family businesses should prioritise open and transparent communication. Regular family meetings can provide a platform to discuss business updates, raise concerns, and address any grievances before they escalate. These meetings should be structured and professional, with a clear agenda, to ensure that business discussions don’t veer into personal matters. Encouraging family members to voice their concerns openly—and listening without judgment—can prevent misunderstandings from festering. Creating a culture of honesty and openness, where family members feel comfortable expressing their opinions, helps resolve conflicts early on and ensures that everyone feels heard. 3. Establish a Formal Governance Structure One major difference between family businesses and non-family businesses is the lack of formal governance in many family-run firms. In many cases, decisions are made informally, leading to inconsistent decision-making processes, unclear authority, and potential conflicts over who has the final say on important business matters. Solution: Implement a Formal Governance Structure Creating a formal governance structure is crucial for maintaining harmony in a family business. This may involve setting up a board of directors or advisory board that includes non-family members, bringing an objective, third-party perspective to decision-making. Having a formal governance structure can help ensure that decisions are made based on what is best for the business, rather than on family dynamics or emotions. Additionally, having a clear process for decision-making—such as majority votes or a consensus-based system—can reduce conflict and give all family members a voice in the business without resorting to informal, emotionally charged debates. 4. Separate Business from Family Life One of the most difficult aspects of running a family business is the intertwining of personal and professional relationships. Disagreements in the business can strain family relationships, and personal conflicts can spill over into business discussions. Maintaining a healthy separation between the two realms is key to preventing conflicts from escalating. Solution: Set Boundaries Between Business and Family To avoid the common pitfall of mixing personal and business matters, it’s important to establish boundaries between family life and work. For example, family gatherings, such as holidays or dinners, should be designated as "business-free" zones, where work-related discussions are off-limits. This helps preserve family bonds and ensures that personal relationships are not tainted by business conflicts. Additionally, during business hours, family members should be treated as colleagues, with the same professional standards applied to them as to non-family employees. This helps create a sense of fairness and professionalism in the workplace, reducing the potential for favouritism or resentment. 5. Create a Family Business Constitution A family business constitution is a formal document that outlines the values, vision, and operational principles of the family business. It also defines how decisions will be made, who is eligible to work in the business, and how disputes will be resolved. This document can serve as a guide for navigating conflicts and ensuring that the business is run according to agreed-upon principles, rather than based on personal emotions or whims. Solution: Draft a Family Business Constitution with Input from All To create a family business constitution, it’s important to involve all key stakeholders in the process. This ensures that the document reflects the views and aspirations of the entire family, not just one person or generation. The constitution should address issues such as: How leadership transitions will be handled Guidelines for family members working in the business Succession planning and the distribution of shares or ownership Processes for resolving disputes By having a family constitution in place, family businesses can prevent many conflicts before they arise, as there will be a clear, agreed-upon framework for handling disagreements and decision-making. 6. Plan for Succession Early Succession planning is one of the most contentious issues in family businesses. Disagreements over who will take over the leadership of the company can create rifts between family members, especially when multiple generations are involved. Without a clear succession plan, leadership transitions can become fraught with conflict and instability. Solution: Create a Transparent and Inclusive Succession Plan To avoid disputes over succession, it’s essential to create a clear and transparent plan well in advance. The plan should outline who will take over key leadership roles, the timeline for the transition, and the criteria for selecting the next leader. Involving the family in discussions about succession can help ensure that everyone is on the same page and reduce the potential for conflict. Moreover, the succession plan should focus on merit and business needs, rather than solely on family ties. If a family member is not ready or qualified to lead the business, alternative arrangements—such as bringing in an outside CEO—should be considered. The goal is to ensure the continued success of the business while managing family expectations. 7. Use Mediation or External Advisers When Necessary Despite best efforts, conflicts may still arise in a family business. When disagreements become intractable, and communication breaks down, it’s helpful to bring in a neutral third party, such as a mediator or family business consultant, to help resolve the conflict. Solution: Seek Outside Help for Conflict Resolution Mediators or external advisers can provide an objective perspective and facilitate productive conversations between family members. Their role is to help the family find common ground and develop solutions that benefit both the business and family relationships. Involving a neutral party can also help de-escalate emotionally charged situations, allowing for more rational and business-focused decision-making. Many family businesses also benefit from hiring external advisers, such as financial planners, legal experts, or business consultants, to help with succession planning, governance, and strategic decisions. These professionals can offer unbiased advice that helps prevent family conflicts from derailing the business. 8. Encourage Professional Development for Family Members Family members working in the business may face unique challenges, such as pressure to live up to expectations or uncertainty about their career paths. Without the right guidance and development opportunities, family members can become frustrated, leading to dissatisfaction and conflict. Solution: Invest in Training and Development for Family Members Encouraging family members to pursue professional development, both inside and outside the business, can help them build the skills and confidence they need to succeed in their roles. Offering mentorship programmes, leadership training, and opportunities for growth within the business can ensure that family members feel supported and valued. At the same time, setting clear expectations for performance and accountability—just as you would for non-family employees—can help prevent resentment or feelings of unfairness. By investing in the personal and professional development of family members, the business can ensure that they are equipped to contribute effectively and harmoniously. Maintaining harmony and managing disagreements in a family business requires a proactive approach. By implementing clear communication channels, establishing boundaries between family and business, and creating formal governance structures, family businesses can avoid many of the conflicts that typically arise from mixing personal and professional relationships.

In the space of one year, social awareness has escalated and brought the world together in dealing with the health, financial and commercial impact of COVID-19. The way businesses work has changed. How they engage with other people has changed. Their expectations of the companies with whom they choose to do business have grown and intensified. This has energized businesses of many types to reflect on their purpose and values, their capability to deliver what really matters and to do so in a financially, environmentally and socially responsible way. The rise of purpose-driven leadership The importance of a company’s purpose and its role in making the world a better place for today and for future generations have come into stark relief throughout the pandemic. The result is that more companies are taking a deeper look at their businesses to understand the impact of their actions across a spectrum of their stakeholders. While the acceleration of digital transformation during COVID-19 has garnered a great deal of media attention of late, I believe the transformation of many companies’ entire business operations are being accelerated through the ESG lens. A long-term mindset, sense of purpose and the importance of creating and sustaining a legacy are already central to how family businesses define success. It is built into the DNA of every generation and has guided how they have conducted business and addressed the needs of their stakeholders for decades. For this reason, I believe that family businesses are in a prime position to influence how companies go about reshaping their business operations through purpose-driven leadership. As one family business leader summed it up, “ESG is not a series of special projects. This is a reflection of who we are and how we choose to do business.” The evolution of ESG in family businesses I am beginning to see a new ESG perspective among family businesses themselves. They already have a well-established, purpose-driven mindset. Social concerns have historically been very important to family businesses as a reflection of the family’s values, and in response to COVID-19, their philanthropic activities and stakeholder commitments were heightened even further and that is unlikely to change. Similarly, governance has always been high on the agenda for family businesses in balancing the needs and actions of both the business and the family. Family businesses with the strongest governance practices generally performed better throughout the pandemic because they already had thorough procedures and mechanisms in place to identify and manage unexpected risks. Even so, those practices were put to the test in many family businesses and found to be inadequate for anticipating the risks on the scale of a global pandemic. As a result, COVID-19 has helped to accelerate the evolution of the ESG agenda in family businesses. The revolution in digital technologies combined with the pressing need to adopt more robust environmental, social and governance practices has motivated more business families to begin reimagining the future. I believe this self-examination is due, in part, to the increasing influence of next-generation family members who are embracing ESG because it fits so well with their values. They see the vital role that it can play in transforming their businesses and making their success more sustainable. They also understand the value that technology brings to their business operations by introducing advanced solutions for collecting and analysing essential data for anticipating risks, gauging the success of their company’s business strategy and measuring the impact of ESG initiatives. With these advanced analytical capabilities, I expect to see changes ahead in the priorities and actions of family businesses and an increased focus on the environmental impact of their operations in the fight against climate change. Not only are these some of the right things to do, but business families have also recognized the commercial imperative of ESG. Concrete strategies and actions around environmental, social and business oversight concerns are fast becoming competitive factors that are affecting many companies’ ability to win new business. This new competitive reality was reinforced to me recently by the executive of a family-owned construction firm who described how his firm had lost a tender bid to a key competitor specifically because their company had a more embedded ESG strategy. Advancing the ESG agenda The urgent need to achieve greater sustainability in the world and in many businesses is putting ESG at the centre of the impetus for change. It is also helping to create the imperative for a new kind of leadership that focuses on the sustainability of the strategies that businesses adopt and the impact of their collective actions. Before embarking on this important ESG journey, I believe there are two important questions that family businesses should consider: 1. What is the most important goal they want to achieve? Creating an ethical supply chain Satisfying customer choice Decarbonization to reverse climate change Accessing sustainable finance 2. Where might they need to invest to support their ESG strategy? Advanced technology and data People and pay Corporate reporting Local community relationships and partnerships There is no question in my mind that the pandemic has been transformational on many different levels. It has also increased an appreciation for the fact that family businesses are in it together to address the impact they are having on the world and what they are leaving behind for future generations. I believe it is imperative that they get the answers right by leading with purpose and the actions they choose to take.

Purpose has been taking a bashing. Terry Smith, the renowned fund manager, recently rebuked Unilever for their focus on purpose: “A company which feels it has to define the purpose of Hellmann’s mayonnaise has in our view clearly lost the plot. The Hellmann’s brand has existed since 1913 so we would guess that by now consumers have figured out its purpose (spoiler alert – salads and sandwiches)”. Ouch. Looking at the purpose statements Unilever has created for its brands, it’s easy to feel that perhaps Smith is right to call the emperor out over his new clothes. Unilever says the purpose of Hellmann’s is: “To inspire and enable 100 million consumers every year to be more resourceful with their food and waste less.” Knorr stock cubes exist to “reinvent food for humanity.” Research suggests that Smith is in tune with the mood of the nation. Chief executives are 50% more likely to use social media to raise social and political issues than to talk about their customers or employees according to a study by Hanbury Strategy and Stack Data Strategy, the advisory firms. Yet the same study found that 56% of people believe that businesses do not understand and reflect their priorities. Is it time to dispense with purpose? Or is the issue with the way it’s used and the grandstanding purpose statements that companies so often create? After all, Hellmann’s recorded 10% year-on-year sales growth in its most recent reported quarter. The origins of purpose can be traced back to 1968 and a book by Chester Barnard in which he states that one of the essential functions of the executive is “to formulate and design purpose”. This idea goes to the heart of what a business is. The definition of a company is a number of persons united or incorporated for joint action, especially for business. The joint action is the company’s purpose. Being united by a common cause is crucial to a successful business. Jim Collins, in his study of companies, Good to Great, observed: “That extra dimension [of great companies] is a guiding philosophy or a ‘core ideology’.” Doshi & McGregor in Primed to Perform find that: “[A strong brand identity] unites your team with a common objective, behavioural code, heritage and traditions. It feeds a total motivation culture.” The problem is that purpose has become equated with social purpose. The phrase “purpose beyond profit” has become commonplace, as though purpose and profit are separable. In fact, the purpose of the business – it’s raison d’être that unites employees and attracts customers – is the thing that generates the profit. For some companies their purpose is a social one. Patagonia’s purpose is “to build the best product, cause no unnecessary harm and use business to inspire and implement solutions to the environmental crisis”. This mission has been baked into the business from the start, born of Yvon Chouinard’s founding vision. It has a transparent supply chain, promotes social justice for its workers and creates durable products that, wherever possible, are made from recycled, fair-trade or organic materials. Not every company will have a purpose that’s social. When businesses try to bolt on a social or environmental cause, that’s when problems occur. Last year Innocent created a television advert showing people of the world sailing a boat towards the edge of a waterfall while singing: “We’re messing up the planet, we’re messing up real good”. Last time I checked, Innocent sell convenience-based fruit juices in single-serve, single-use plastic bottles. Their advert feels a touch hypocritical. This isn’t to say that they shouldn’t – like everyone – be doing everything possible to address social and environmental issues. But it’s not their purpose. They’d be far better reconnecting with their original vision, which was around healthy, nutritious drinks. Family businesses are well placed to know their purpose and keep it alive within their companies. The purpose of a business often stems from the founder. When this person leaves the business, the purpose can get lost or diluted. Family businesses have a bloodline between the founder and subsequent generations. They are well place to carry the torch and keep the flame alive. Doing so is powerful because it is what unites the interests of the family with the people they employ. It is everyone’s common cause. And the purpose should set the direction for developing values that foster the right behaviours in the business. While purpose has taken a beating, if understood and used correctly then it’s still a powerful force within a business. About the Author - Rob Gray is the Managing/Strategy Partner at Squad - a brand building firm from Manchester. He is well versed in the world of family business having worked with many family firms over the years including the likes of JW Lees Brewery, Vestey Group Holdings, Martin Moore and Tebay and Gloucester Services. www.squad.co/position-project.

Family businesses are the lifeblood of many economies worldwide, representing a staggering 85% of all global businesses, employing significant numbers of people, generating wealth and providing incomes. These businesses, which blend personal relationships with professional aspirations, offer unique advantages but also face distinct challenges. At the heart of their long-term success lies the critical need to effectively manage family dynamics and to create a framework that enables family members to perform whilst providing every opportunity for them to do so to preserve their relationship too. The dual nature of family businesses often contributes to their initial success. At their outset, family firms are often created with a shared vision where trust, and commitment among family members can drive rapid growth and foster innovation. However, as these businesses expand and evolve, the intertwining of family and business affairs becomes increasingly complex. This complexity necessitates a delicate balancing act between familial expectations and business imperatives. One of the most significant challenges facing family businesses is succession planning which includes the difficulty of transferring leadership and ownership across generations. Many families struggle to identify and prepare suitable successors, often leading to conflicts or a lack of direction when the founding generation steps down. Power conflicts represent another major hurdle that those involved in a family business may encounter too. As family businesses grow, so too does the potential for internal feuds among siblings, cousins, and other relatives. These disputes can arise from differing visions for the company's future, unequal levels of involvement, or perceived favoritism. Left unaddressed, such conflicts can escalate, potentially leading to business failure or painful family rifts. The concept of emotional ownership can also be seen as a double-edged sword in family businesses. On one hand, it can foster a deep sense of commitment, driving family members to go above and beyond for the company's success. This emotional investment often translates into a long-term perspective and a willingness to weather short-term challenges. On the other hand, it can cloud judgement, making it difficult to make objective decisions, especially when they might negatively impact family members. To build a lasting family business that can thrive across generations, owners must focus on several key areas. First and foremost is the establishment of a robust governance structure is essential. This typically involves implementing formal processes and potentially bringing in non-family directors or advisers to provide objective perspectives. A well-designed governance framework can help separate family and business issues, ensuring that decisions are made in the best interest of the company and put measures in place to protect the long term relationship of the family with the business too. As previously mentioned, succession planning is another critical element. Developing a transparent, well-structured plan for leadership transition can help ensure business continuity and minimise conflicts. Clear communication and honest, authentic conversations between the generations and everyone engaged in the process is essential to minimise the risk of the process derailing but it is really important that this process starts early, allowing ample time for potential successors to gain the necessary experience and skills. In many cases, as soon as a successor has been appointed to lead the business, the next succession process should be in the minds of everyone looking at the longer term plan for both the family and the business too! Effective leadership is paramount in any business, but it takes on added importance in family enterprises. Investing in leadership development for family members who are involved in the business can help ensure they have the skills and knowledge needed to guide the company successfully. This may involve formal education, mentorship programmes, or gaining experience in other companies. Open communication is vital in managing family dynamics within a business context. Creating forums for honest dialogue can help address emotional issues before they escalate into conflicts. Regular family meetings, separate from business meetings, can provide a platform for discussing concerns, aligning expectations, and reinforcing shared values. Separating Family And Business One of the most challenging aspects of running a family business is maintaining a clear distinction between family matters and business operations. It's crucial to establish and enforce boundaries that prevent personal issues from spilling over into professional decision-making. This separation helps maintain objectivity in business dealings and reduces the risk of emotional conflicts impacting the company's performance. Families should strive to create a culture where business discussions are confined to appropriate forums, such as board meetings or scheduled strategy sessions, rather than dominating family gatherings or Sunday lunches. Nurturing Family Relationships Outside The Business While the business often serves as a unifying force for the family, it's equally important to nurture relationships outside of the professional sphere. Encouraging family members to pursue individual interests and fostering connections that aren't solely based on business can lead to a healthier family dynamic. This approach helps prevent the business from becoming the sole focus of family interactions and reduces the risk of burnout or resentment. Regular family retreats, shared hobbies, or philanthropic activities unrelated to the business can strengthen bonds and provide a much-needed balance between personal and professional lives. By investing in these non-business relationships, families can build a stronger foundation of trust and understanding that ultimately contributes to the long-term sustainability of both the family unit and the business. Finally, a thoughtful human resources strategy is crucial for creating the right environment for both family and non-family employees. This includes clear policies on hiring, promotion, and remuneration to ensure that all employees are treated fairly, regardless of their family status. While family businesses face unique challenges, they also possess inherent strengths that can set them apart in the marketplace. By proactively addressing family dynamics through robust governance, succession planning, leadership development, open communication, and fair HR practices, these businesses can harness their unique advantages while mitigating potential pitfalls. In doing so, they can set the stage for multi-generational success, creating legacies that extend far beyond the founding family members. The key lies in recognising that managing a family business is not just about running a company—it's about nurturing a complex ecosystem where family and business interests must be carefully balanced for long-term prosperity.

Riaz Currimjee is the Founder and Managing Partner of Surya Capital, the family office backed Africa focused private investment firm he set-up in 2016, and also a Non-Executive Director of his family’s company, Currimjee Jeewanjee & Co Ltd, one of the largest family-owned multi-sector conglomerates in Mauritius. He is both an intrapreneur: a driver for change within his family’s company, and an entrepreneur outside it. As a result, he offers a tremendous insight into how to keep the entrepreneurial spirit alive through multiple generations, as well as how to avoid falling into the ‘clogs to clogs in three generations’ trap. The Currimjee Jeewanjee & Co story begins back in 1884 when an adventurous twenty-two-year old, Currimjee Jeewanjee, Riaz’s great-grandfather, set foot on the shores of Port Louis, Mauritius, from Gujarat, India. He started a small business in 1890 at Louis Pasteur Street, trading in commodities, which grew over 130 years into a conglomerate with significant interests in telecommunications (as controlling shareholder of Emtel, the first mobile telecommunication company in the Southern Hemisphere and the first to launch 3G in Africa) and founding shareholder of Bharti in India. Its other business interests include: satellite television, real estate, hospitality, tourism, energy and FMCG, including partnerships with Airtel, Canal+, Total, Minor, Singapore Airlines and PepsiCo International. “We are the fourth generation of a Mauritian-based family business which was set-up by my great-grandfather,” recounts Riaz. “He set-up a commodities trading business: exporting sugar from Mauritius to India; importing spices from East Africa; importing rice from India, and investing the proceeds in real estate.” At that point, Mauritius was an English colony, Riaz explains: “The economy was effectively dominated by a handful of Franco-Mauritian families: descended from the French who established Mauritius and who owned most of the land and big sugar plantations,” he says. Riaz’s great-grandfather had two sons: “Although my grandfather was the younger brother, he very much led the business which he expanded into industry in Mauritius and the Indian Ocean region: he bought a cement factory in Madagascar and took the business into a variety of what used to be called ‘export substitution industries’.” Riaz explains that because Mauritius was an island which depended on imports for everything, the Government encouraged some of the more established business groups to start manufacturing. “We got into manufacturing, initially making soap and laundry products, set-up a Pepsi bottling plant and a (then) joint-venture making fats; butter and spreads, as well as still importing and distributing rice,” he says. In the 1970s, the company was among the first pioneers to launch a textile manufacturing business in Mauritius. “In the late 70s/early 80s, Mauritius became a hub for manufacturing textiles, starting with knitwear,” explains Riaz. “Mauritius benefitted from having no quotas into Europe or the USA and the Mauritian Government set-up, what was then very forward-thinking, Export Processing Zone (“EPZ”) – in the UK you would call them “free ports” – where you could set up a manufacturing business exempt from taxes and other duties for ten years. It became the family’s biggest business by turnover for a number of years until we launched the first mobile company in the Southern Hemisphere, which became operational in 1987,” says Riaz. After that the family business expanded and diversified into many different sectors, but up until the launch of the mobile business, the company was always family run. The importance of good governance “The mobile company was a joint-venture with an international company, so professional management was hired,” says Riaz. “We then set-up a joint-venture with Canal+, the French broadcaster, to set-up a satellite television business which was also professionally managed. Previous to that we had a joint-venture with Elf, which became Total, in downstream oil and gas, which was also professionally run. By accident more than by design, these businesses became the biggest businesses and they were all professionally run whereas the historical businesses, the industrial, FMCG businesses, were still managed by family members.” he explains. According to Riaz, there were a couple of major pain points in the family. “The textile company was set-up by my uncle who was a great visionary, strategic thinker, but he brought in his two sons straight from university, neither of whom really wanted to be involved in the business, and who didn’t have any real work experience. He gave them responsibility beyond their competence and experience and whilst they worked hard, it was very challenging. Because of this, and a variety of other reasons, the textile company alongside other textile companies in Mauritius, started to have financial difficulties,” Riaz reveals. “My uncle believed the company could be turned around, while it was pretty clear that it was beyond saving. It was a big business employing 3,000+ people and he convinced the family to give him another chance." “At the same time, we had invested, as founding shareholders, into what became one of the first mobile operator in India, called Bharti Airtel,” Riaz continues. “We sold most of our shares in what became the largest mobile company in India to fund that attempt, but the textile company went “bankrupt,” he adds. “It was a real tragedy.” Avoiding conflict “A few years after that happened, I wrote a letter triggered by those events: that we sold out of what became a massive company to fund a company that then went bankrupt, all because we wanted to avoid conflict,” recounts Riaz. “I emailed that letter to every single member of the family and it said things that had never been said, or written down in the 100 year history of the company. I used words like nepotism and destruction of shareholder value – not very diplomatic or tactful!” Riaz exclaims. “My father told me not to do it, my cousin, who is now the CEO, told me not to do it and some of my relatives didn’t speak to me for a few years! It was very badly received by most, particularly those that worked in the family business, but well received by the minority shareholders, especially the women who didn’t work in the family business and didn’t have a voice,” he says. “Avoidance of conflict has been a theme throughout the family: it’s probably the reason we’re still united after four generations, but it has also meant that a lot of tough decisions are avoided,” Riaz reveals. “I actually don’t mind conflict at all, sometimes I relish it, so I’m very different from most of my family in that respect!” he adds. “Without being immodest, I do believe that letter started discussions, first within the individual families and then eventually within the wider family, about issues such as governance, accountability and dividend payments.” Riaz says. Towards better governance About twenty years ago the company appointed two brothers who were family business advisers from Kenya. “We started what has now become a tradition, of yearly family meetings. We meet once a year in a hotel with the first day as effectively a shareholder meeting, and then there are family events and bonding etc, explains Riaz. “The relationship with the Kenyan advisors didn’t last and after a few years we started working with Professor Randel Carlock, Emeritus Senior Affiliate Professor of Entrepreneurship and Family Enterprise, and Christine Blondel, Adjunct Professor of Family Business, from INSEAD, who ran a series of workshops,” Riaz explains. “As a result we decided to put in place a shareholders agreement, which we didn’t have because the business was set-up in 1888! It took a while because we had to retro-actively agree a number of important issues; and we set-up a family council with a family constitution,” he adds. “So things have moved-on a lot.” The family now has two holding companies, one covering the historical FMCG companies which is family run, and one which is effectively the main investment holding company and which generates 95 per cent of the profit. Choosing your own path “I’ve been the defender and the voice of the minority shareholders,” says Riaz. “I have no problem picking a fight and saying things that nobody else dares, or is comfortable, saying. Had I joined the family business, who knows where I would be today in terms of role and responsibility but I would have asked to be interviewed and independently assessed for any roles I sought or was chosen for,” he explains. "My father was a great contrarian. He didn’t join the family business. He was an architect and set-up a practice with his cousin. They remained equal shareholders to their brothers and non-executive directors, but they didn’t join the family business. I guess my dad inculcated that contrarian gene in me,” Riaz says. “I have been fascinated by business all my life, but I always wanted to do my own thing. Maybe I was driven by a slightly immature ambition to prove myself, to be my own man. I am utterly conscious of how lucky I am. I didn’t choose to be born into a family business that, in the context of the Mauritian Indian Ocean, is big and just happens to be on a paradise island,” Riaz quips. “I did four years at Arthur Andersen and qualified as a chartered accountant then I spent just over four years at Lazard in M&A. That was the point at which I wrote my letter to family members and effectively realised that my role was to be that voice of constructive criticism, keeping people accountable, and challenging the status quo,” he explains. “I’m adding value, but in a different way than operating a business.” Riaz hasn’t walked away from the business. “I’m on the Board and have been for years, and I’m active as a non-exec,” he says Can the entrepreneurial spirit be kept alive? “It’s very challenging, because we were entrepreneurial,” claims Riaz. “My uncle sat next to the CEO of one of the first emerging market telecommunications companies in a hotel lobby in Sri Lanka in the mid-80s and that led us to get into mobile phones; nobody else in the Southern Hemisphere had mobile phones. And I could mention example, after example, after example before that. There was a huge amount of entrepreneurship until the third generation. I feel that my generation, with a few exceptions such as my cousin who is the CEO, doesn’t have the same hunger, the same ambition, the same drive as previous generations; perhaps there’s a feeling of entitlement,” he muses. “If the people at the Board level and the owners of the business are no longer as entrepreneurial as they used to be, you can’t turn a switch and make them entrepreneurs. Those of us that are entrepreneurial are just going to have to be louder,” he adds. Clogs to clogs in three generations “I know that expression very well and we got very close to it!” exclaims Riaz. “But we were very lucky in that we entered into joint-ventures which encouraged professional management. We were able to compare the performance of the family-run businesses with the performance of the professionally-run companies and it was pretty clear that we were much better off having professionals run our businesses than family members,” he admits. “We are also united by a set of values and through the tough times, what united us was stronger than was separated us. I am very proud that we have stayed true to our values and never compromised on them”, Riaz adds. “Now we are unequivocally on the path to being a professionally run family-owned business,” Riaz says. “We’re not there yet. “We have a shareholders agreement, a family council, the main holding company has a proper Board in the sense that there is over 40 per cent strong NEDs, with an audit committee, a governance committee and remuneration committees that are independently chaired. We effectively mirror public company corporate governance,” Riaz claims. “It really is a very well governed company and the rest will follow. We are heading towards a situation where only in exceptional cases will family members work in the family business." Leveraging an unfair advantage “When I was an associate, a senior associate, a VP in investment banking at Lazards, my family’s business and reputation had no relevance in Europe,” explains Riaz. “When I was working in India, my family had very good, deep relationships with the Indian industrial class so I leant into the family a little bit then. Maybe it was ego; I so wanted to be independently successful, that I didn’t want to use something that was so obviously available to me,” he admits. “Then I started doing private equity in Africa. Mauritius is seen as an African success story, so saying that I come from Mauritius and from a 130 year old successful business was a major icebreaker in conversations with entrepreneurs or family businesses in Africa, so I absolutely used it. Now I have no problems using it,” Riaz says. “It is part of my DNA, my heritage and in many ways where I learnt about business.” Where Riaz still hasn’t managed to use it is in his investment fund business. “Until now I’ve been operating on a deal by deal basis and my family has never backed me in a single deal. As we don’t yet have a proper independent process to invest in businesses set up by family members, I am not sour about this as I would only expect an investment if it had gone through a strict process,” he explains. “But what we do need to figure out is how to back people who are entrepreneurs outside of the family as we could be missing out on excellent opportunities and on ways to keep the family entrepreneurship heritage alive,” he adds. “Those models work if there is real accountability, if people accept that there’s a process which is independent and that it’s fair. Some people will get a ‘yes’’ others will get ‘no’s’, and it won’t be because they are the brother or the cousin or the best friend of an executive. We do want to do that, but it might take a few years yet,” Riaz admits. “I prefer not being backed by my family than being backed by my family without due process”, Riaz adds. Opening the door to the next generation “My kids are eight and six, so it’s a bit early!” jokes Riaz, “but the family business has a process. There’s a written policy for employing family members and a path they need to take. There’s a two year internship revolving around different companies and reporting to non-family members, to determine whether family members are hireable full-time,” he explains. “Now there’s also a process to encourage the fifth generation to get to know the businesses more through internships and that’s being driven by Christine Blondel, a NED on the Board who has lots of experience,” Riaz says. “My partner and I in my investment company have decided not to be a family business,” he shares. “We’re going to hire people and eventually we’ll retire. We both agreed that if the venture succeeds and grows, it will be structured like other private equity businesses, and we will sell or relinquish our GP stakes to the new GPs who come in. My kids will have the option to go back to Mauritius if they want to where there will be a process and a path for them to follow, or they will do their own thing,” he concludes. What three things are important for an entrepreneur to succeed? “Number one is to spend six or seven years in a big company. If you want to work in finance, go and work in an accountancy firm, consultancy firm or an investment bank. Although the world’s changing so fast today that kids are finishing university are doing start-ups and being very successful at it, I’m talking more generally,” says Riaz. “Number two: even if you want to do your own thing and be independent, don’t shoot yourself in the foot by not taking advantage of what the family offers. It can offer capital, but more importantly it offers a network. If you come from a successful multi-generation family business, they know people and they know people who know people, and the reality in business is that networks matter the most. “The third thing is don’t be afraid to ask for advice. You want to be independent, but there might be people in the family business, either family members or executives in the family business, who are very capable at finance, operations, or marketing. They can be mentors, advisers, people you can bounce ideas off.” he concludes. What three things are important for an intrapreneur to succeed? “You need to be even more meritocratic and more accountable than in a non-family business, because there’s always going to be the perception in a family business that the family member has an unfair advantage over other colleagues,” says Riaz. “Important for my family, and in the context of Mauritius which is small, is our reputation for integrity which is probably the best of any family business in Mauritius. That took 130 years to build and it can be destroyed in one day, one hour, or one second.” “Working for a family business is a huge responsibility: you have a responsibility to be even more meritocratic and accountable or you won’t attract the best people, and you have to respect, defend and uphold the values of the company because those are your biggest assets." “Finally, take advantage of the non-financial assets, like networks, that some people overlook,” Riaz concludes. About the Article This interview was conducted by PKF Littlejohn and first appeared on their website and has been reproduced here with their permission.

Frozen food distributor Central Foods has partnered with global food company Tyson Foods’ UK division to increase Tyson’s distribution to independent frozen food wholesalers in the UK. The industry giant will offer a selection of products via Central Foods such as Hot ‘N’ Kickin® crispy chicken wings, chicken breast kebabs and skewers, coated chicken fillets and crispy inner chicken fillets. Mainly chicken products, the items will complement Central Foods’ popular own-brand range of Golden Valley Foods poultry options. Gordon Lauder, MD of Central Foods said: “We are very pleased to be working with Tyson Foods to extend the company’s distribution network in the UK." “Tyson Foods has a reputation for supplying great-tasting, best-quality food for every occasion, as well as very positive environmental and sustainability credentials, and we are delighted to be increasing distribution for their brand in the UK.” Tyson Foods has grown from humble beginnings in Arkansas to one of America’s great companies and a leader in the food industry. The modern, multi-national and protein-focused food company produces approximately 20% of the beef, pork and chicken in the United States in addition to its large brand portfolio. Through expansion and acquisition, Tyson Foods is now also one of the world’s largest food companies. Phil Eccleston, commercial director at Tyson Foods Europe said: “The UK independent frozen foodservice wholesale sector is an important and growing market for Tyson Foods. Our partnership with Central Foods will allow us to further expand our business and geographical coverage in an innovative way.” Central Foods is one of the UK’s leading frozen food distributors to the food service sector and currently sells to over 200 independent wholesalers, as well as larger national and regional wholesalers. The company is proud to be a catering partner across the whole food service sector, supplying to hotels, restaurants, bars, universities, schools, pubs, care homes, garden centres, leisure outlets and more. For more information, visit here .

A Japanese artist has designed a range of animal characters for a country estate near Windermere, inspired by the Lake District’s wildlife and its famous writers such as Beatrix Potter and William Wordsworth. Hideyuki Sobue, who made his home in the Lake District twenty years ago, won the commission from Wild Boar Estate to provide the new artwork for the venue. Some of the rural Lake District's most distinctive native animals are being featured and personified in his work on the project. These include a Brewhouse newt for the estate’s microbrewery, a wild cat to celebrate its whisky offering, a pheasant for its private woodland and a queen bee for its hives and honey. Other characters include squirrels, foxes, owls, and of course the eponymous wild boar itself for the estate’s new logo. Having immersed himself whole heartedly into the culture and heritage of the Lake District, Hideyuki has brought his Japanese skillset to the project, with the works of Beatrix Potter as key influences in the new artwork. His style aims to bridge east and west by sampling the rich cultural, artistic and ideological heritage of both. Hideyuki Sobue explains: “This has been an exciting project to help give Wild Boar Estate a more distinctive style, character and personality. I developed an animal portrait series following my National Trust commissioned art project, ‘A Letter to the Earth from Beatrix.’ This draws inspiration from Beatrix Potter’s remarkable creativity, particularly her beloved ‘Little Books’ featuring charming animal characters." “For this commission, I aimed to blend traditional and historical Lake District themes with a contemporary take on storytelling using memorable characters across all areas of the estate.” Hideyuki’s artwork involves a brush hatching technique using Japanese sumi ink, which was originally adopted from ancient China. It is also underpinned by a linear structure and oriented lines for each drawing, inspired by the concept of ‘disegno’, the aesthetic approach based on drawing established at the Florentine school in the early Renaissance period. Group marketing manager of English Lakes Hotels Resorts & Venues Colin Fox explains: “Hideyuki Sobue is a wonderful artist who we have known for many years. I previously commissioned him to create a logo for the Lake District Japan Forum and have followed his body of work ever since." “We really loved his Allan Bank portfolio in particular, and I felt it would work fantastically well for the Wild Boar Estate to build on our company mantra of respect, creativity and fun." “His deep understanding of the artists, poets and romantics who have been drawn to this beautiful part of the world has allowed him to develop his own unique takes on their work to inspire his own creations." “We loved the idea of these character drawings of woodland animals, and using their individual home names like squirrel’s drey, fox’s den and owl’s nest for our new room categories, signage and overall rebranding for the estate.” Hideyuki’s prestigious project commissions include ‘A Letter to the Earth from Beatrix’ held at Allan Bank, Grasmere, a homage to Beatrix Potter's creativity and enduring legacy. This was supported by the Arts Council England and the National Trust. He also received critical acclaim for his portrait of William Wordsworth, which was displayed at Rydal Mount. Pic caption: Lake District artist Hideyuki Sobue and Colin Fox from English Lakes Hotels showcase examples of the animal characters.