The family business sector in 2020

Episode notes

The biggest challenges for family businesses - 6m 16 Looking at the current environment and crisis management aside, Natalie, Paul and Mairi discuss the biggest challenges for UK family businesses and decide whether communication plays a fundamental factor in business survival during the Covid-19 pandemic. Succession Planning and future plans - 10m 54 Succession planning is a hot topic, and over the last 6 months, generational transitions, Brexit and Covid-19 has forced a lot of businesses to reconsider plans for the future. The next generation - 13m 6 When is the right time to have the conversation about what’s next for the business? And how do you know who the right people are to take the business forward? Balancing personal needs and avoiding family conflict - 17m 11 Honesty is the best policy. When having your conversation for what’s right for the business, understand who has the most interest, who has ambition and strive and understand what roles are suited to each employee. Family values and governance - 20m 50 Family business values can sometimes be unwritten but are expressed through the culture and work carried out.

• Recipe for Success - The Story of How a Successful Family Business Transitioned Between Generations61 / 100
• The Great Transition - 2022 and the Acceleration of Succession55 / 100
• Family Business Funding in a Post-Pandemic World55 / 100
• Helping Next-Gen Family Entrepreneurs Forge Their Own Paths
• Succession: a personal story