The future of family business

Family-run businesses are a crucial and vibrant part of British and Irish economies. Their success is testament to the grit, passion and entrepreneurialism of their founding families and successive generations.

Today’s world presents an exciting opportunity to develop and nurture the next generation of ‘Successors’ to families in business. Their talents and skills as leaders will be invaluable as family firms navigate the opportunities and challenges that tomorrow brings.

Effective succession planning is essential if continuity of the family business is a key objective and concern. Continuity of family ownership is by no means certain; as well as planning for the transition of share ownership, owners need to consider at some point, who will lead and manage the business and provide example and direction for the family as owners.

Families need leadership by members of their own family. As the structure and scale of family enterprise grows so too the leadership roles ‘open’ to effective and qualified members of your family.

The Successor Knowledge Centre is intended to get you and your family thinking on the merits of timely preparation and development of successors. We place successor development as a priority alongside that for non-family managers.