Tag: Family Governance

FBUK Family Council Community shares Best practice

Posted on by Alan Fitzwater

FBUK Family Council Community shares Best practice

The FBUK Family Council Community met online this week to discuss how to extract maximum value, from your Family council.

The online call featured a fascinating case study by leading independent engineering and services company, NG Bailey, followed by an open Q&A session.

NG Bailey Family Council co-chairs Chris Bailey and Claire East took us through the evolution of their council, since its original formation in 2005.

This eye-opening history highlighted some of the challenges faced with an ever-expanding family forum, and suggestions on how to best structure the family council to ensure all voices are heard ,and decision-making happens quickly and effectively.

The case study highlighted the value of the Family Council as a sounding board for the F-NEDs on the Board and the value to the individual member, who is offered development and learning opportunities to deepen their understanding of the business.

Nearly two decades later, the NG Bailey Family Council is now re-evaluating its purpose to ensure it remains relevant and continues to meet the needs of the family and the business.

A lively Q&A followed the introduction, with members of other family councils taking away advice to apply to their own structures and operations.

Our thanks to Claire and Chris who spoke candidly about the challenges and opportunities faced by the council and helpfully outlined the rhythm of meetings, election of members and significance of culture in the council’s success.

This Community deeply benefits from the experiences of real family businesses, shared openly, so that peer-to-peer knowledge share and connections, aid the developments of our delegates own practise.

We are delighted to have Ben Allan from Wykeland Group confirmed to present the next case study at the online meeting in May 2025.

Family Council Community

A Family Council forms an important communication bridge between the business and the family, whether it is educating the family for their future responsibilities, acting as a bridge between the family and the business to settling disputes within the family.

The richness of conversation within our exclusive peer communities stems from the breadth, depth and experience of members engaged, so we encourage anyone who wishes to be involved in this, or our other FBUK communities, to email info@familybusinessuk.org to join the group.

Find our more about FBUK’s Peer Communities here.

FBUK Members Resource Centre

FBUK Members can also find an additional variety of Family Council, and other useful resources, within the Members Resource Centre here.

FBUK addresses Good Governance in Disruptive Times

Posted on by Alan Fitzwater

FBUK addresses Good Governance in Disruptive Times

Family Business UK were delighted to host an open and honest roundtable discussion on ‘Good Governance in Disruptive Times’ in London yesterday, the 6th November 2024.

Kindly hosted by FBUK Corporate Partners PwC and with expert contributions from both PwC and Boodle Hatfield, this session provided senior family business leaders with an opportunity to consider governance challenges faced by a broad range of roles and generations within UK family businesses.

After reframing external risks as opportunities to create agility in business, we explored ‘what is good governance in practice?’

Our panel, including Steve Rigby, James Perry and Sian Steele, expertly moderated by Sophie Ashburton, sought to debate what is most important in relation to good governance?

What might get in the way of good governance? And why are family businesses, at their best, uniquely set up to be exemplars of good governance?

Steve Rigby, CO-CEO of Rigby Group PLC, discussed the importance of family board’s aligning their views so that a message delivered to the executive is heard as one voice. Steve advocated for independent advice/support to help manage the emotion inherent in family business, so that families can better communicate what they wish to achieve.

James Perry, co-Founder and Co-Chair of COOK, explained what it means to be a purposeful organisation and the pride he felt in changing the articles of association to show their commitment to good governance.

James gave tangible examples such as the decision to be part of the Living Wage Foundation and how honesty and transparency created authentic conversation.

Sian Steele, portfolio NED, shared examples of how family businesses can adapt to roll with the punches, pivot fast if they need to or hold hard. Sian spoke about how being direct in the right way (radical candour) is helpful in bringing up things that appear painful to talk about, but are necessary.

The roundtable discussion which followed, conducted under Chatham House Rule, explored a number of individual challenges being faced currently within attendee’s family businesses.

The strong culture of honesty amongst family business meant that attendees felt safe to share in-depth and openly, so that they could gain the support they needed.

Thoughtful input from both subject matter experts and perspectives from other FBUK members, gave practical advice on how to manage the difficulties, learnt from their own experience in similar situations.

Some of the key takeaways from the day included:

  • Getting the formality of governance ‘just right’ is hard work and different for every family, but informal Friday Family Lunch or Tuesday Supper Club may be a step in the right direction.
  • Reconsider the output you would like and re-frame the conversation so that communication is easier and more beneficial.
  • Purpose and aspirations of stakeholders can be a rich and emotive subject, used to engage, find a commonality and drive action for both family and business.

A general consensus about communicating well, whether around the kitchen table or around the boardroom table, meant an investment in relationships which takes a first step towards good governance.

Further Reading on Good Governance

Some “tried and tested” tools recommended by our delegates, in the room, to help understand better ways of communicating included:

  • Insights
  • Love languages
  • See-me
  • Strength finder 2.0

For those interested in some further reading, delegates shared a number of powerful book recommendations including:

  • Radical Candour
  • The fearless organisation
  • Hug of War
  • Who moved my cheese?
  • I’m ok, you’re ok

The FBUK Member Resource Centre

FBUK Members can find further exclusive resources, including our unique digital tool & model – Family Business Life Stages, within the FBUK Members Resource Centre,

As part of FBUK’s support to the sector, the public can access range of topical, “open” expert resources on the FBUK website here.

FBUK shall be running many more events in 2025 to help our members explore best practice and knowledge share, on topics of material import to family business.

FBUK Programmes & Events
View the FBUK Programmes & Events calendar here.

 

FBUK Delivers Succession Planning Masterclass

Posted on by Alan Fitzwater

FBUK Delivers Succession planning Masterclass

Family Business UK were delighted to host another highly informative Masterclass on the critical topic of Succession in Family Business earlier this week in London.

Over 40 family business leaders braved the inclement weather and attended the Masterclass held in Canary Wharf  – kindly hosted by our carefully selected Corporate Partners KPMG (at their excellent facilities) and with expert contributions from both KPMG, and FBUK partners, Farrer & Co.

This session provided senior family business leaders with an opportunity to engage in knowledge sharing, benchmarking, and best practice, all tailored to the unique challenges of family-owned enterprises.

Succession planning is essential for any business, but in the context of a family business, it forms the foundation for sustained, multi-generational success.

Given the current uncertainties facing the sector, such as potential changes to Business Property Relief, Agricultural Property Relief and Gift Holdover Tax, our attendees benefited from immediate and expert insights to support their succession strategies. (Find out more about BPR in our Back Family Businesses Campaign Hub).

Delegates had the unique opportunity to engage directly with our esteemed panel of senior family business leaders, in our session “Why are you in business together?” including:

  • Nick Linney, Owner and NED of 5th-generation marketing and design agency, Linney
  • George Hillier, Chair of Hillier Nurseries Ltd, of 5th generation, 160-year-old South West Horticulture business.
  • Sophie Seddon, Family Non-Executive Director at 5th-generation family business, Novus Property Solutions (JSSH)

Our delegates heard a compelling fireside chat case-study, sharing the learned experiences of Keith Miller, Group Chair and Ben Cavanna, Family Non-Executive Director, of 4th generation Southwest family business Cavanna Homes, as to their transition between generations.

Our sessions, from “Roles in the Succession Process”  to “Building structures for success“, offered priceless, practical insights into what steps can be taken now to ensure the continued success of family-owned businesses for future generations, on topics such as:

  • Working together as a family and business.
  • Aligning your purpose with your succession plan.
  • Knowing your role and how to be the best at transition.
  • Understanding the rules and regulations

In between sessions, delegates had the opportunity to actively benchmark, by sharing experiences and views in break-out discussions and facilitated workshops, working in small groups. Networking breaks and refreshments were enjoyed throughout.

The day concluded with the opportunity for peers to connect, allowing attendees to reflect on the session’s key takeaways and discuss the next steps for their own organisations and engage in more networking with refreshments in a relaxed environment.

We would like to extend our gratitude to our speakers and corporate partner experts, including Bryony Cove & Anthony Turner from Farrer & Co.

And a special thanks to our carefully selected corporate partners, and hosts, at KPMG, Steve Hickman, Mark Essex, and Craig Rowlands.

Masterclass Programme & Member Resources

Find out more about the Family Business Masterclass Programme  covering topics of material import to Family Businesses, including Ownership, Succession, Governance and Non-Executive Directors (neds).

Further Resources & Reading 

Public Resources

As part of FBUK’s support for the Family Business Sector, non-members can find a series of Succession Guides, supporting both the Senior Generation to manage transition, and the Next Generation, to find their way in the family business; in our Public Resources centre, as complimentary downloads.

Exclusive Member resources

FBUK members can  log into the FBUK Member Resources Centre to access an exclusive host of resources to help your family business, with Succession, Governance and understanding the unique life stages of the family business journey, with resources available in forms from Podcasts to Videos, and Expert Guides to short Briefing notes.

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