FBUK Delivers Succession Planning Masterclass

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.

END.

Steering the Family Business Forward: A SaxBam Interview with Neil Davy, CEO of Family Business UK

Steering the Family Business Forward: A Sax Bam Interview with Neil Davy, CEO of Family Business UK

Family Business UK (FBUK) CEO Neil Davy was delighted, earlier this month to be interview by Kate Ludlow, Managing Partner at Executive Search and Leadership specialists, and FBUK corporate partner,  Saxton Bampfylde.

Neil is the fourth interview in the series ‘Steering the Family Business bringing views from leaders across family business in the UK – family and non-family, executive and non executive. With the intention that the series will encourage shared learning whilst increasing awareness of this vital part of our business fabric.

Neil’ shared his reflections on some of the potential new opportunities and ambitions for family owned businesses, particularly in the context of the lection of a new Government.

Family businesses are integral to UK society and economy and play an enormous role in so many different industries every day. The business model requires leadership that balances entrepreneurship with stewardship, risk-taking with longevity: not an easy combination.

At the very core of that is the focus on the people and a genuine commitment to culture and values, which cannot be underestimated.

Read the interview in full, here.

Saxton Bampfylde recently became a carefully selected corporate partner of FBUK, joining a select and top quality group of advisory partners.

Click here, to find out more about Saxton Bampfylde’s offer to Family Businesses.

 

FBUK Publishes Annual Report

Family Business UK have today published our Annual Report, covering the 18-month period July 2022 – December 2023.

Comments on the annual report from Neil Davy, CEO of Family Business UK.

As members will see from the report, the second half of 2022 focussed on developing a new strategy for the organisation (then known as the IFB) which built on the 20+ years of tremendous legacy and support for the IFB, but set-out a new ambition and direction of travel. This included a comprehensive review of every aspect of the organisation, it’s activities, and relationships with all stakeholders, and importantly our Members.

The priority for 2023, was to implement those plans, place the organisation on a firm footing to prepare for future growth, and indeed relaunch as Family Business UK, which we did in June of last year.

I am pleased to say we are now well placed to leverage that hard work, and the growing support and involvement from FBUK Members, Corporate Partners and others involved in our growing movement.

On behalf of the FBUK team, I’d like to extend sincere thanks to everyone who has worked so hard over this period.

We still have much work to do, but we are excited and energized by the challenge, and the opportunities that are ahead, to support family businesses in the UK, and champion the sector.

Download the Annual Report.

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FBUK delivers inaugural Ownership in Family Business Masterclass

A successful and insightful day of knowledge share, benchmarking, and exchange of best practice on the thorny topic of Ownership in a family business, was kindly hosted by our partners NatWest in Bishopsgate, London on the 15th April 2024.

Moderated and skillfully led by subject matter experts from our carefully selected Corporate Partners Deloitte Private, Farrer & Co and NatWest, proceedings were attended by a truly collaborative and interactive cohort of Family Business leaders and owners, openly sharing their experiences, in a reciprocal, safe-space Chatham House environment.

Family Business Ownership Panel 

Thanks must go to our esteemed family business member panellists: Alexander Bradford from Bradford and Sons and Geoffrey Bibby from Bibby Line Group Ltd.

Alexander and Geoffrey openly discussed their personal experiences of exploring the different models of ownership, highlighting benefits, challenges and their personal accounts of transitioning, and managing change.

Shares, Trusts, Tax, External Management, and Succession

The programme’s morning session covered topics such as Structuring Shares, Trusts and Tax, External Management and Ownership Succession, ably facilitated by subject matter experts: Stuart May from NatWest, David Simarro from Deloitte, Anthony Turner, Richard Lane and Sonal Shah from Farrer & Co.

Following an excellent lunch and a welcome opportunity to connect with fellow delegates in a relaxed and convivial atmosphere, the afternoon session reprised with a workshop on the subject of ‘Becoming an Owner’.

Delegates enjoyed splitting into groups, idea storming, and working collaboratively to tackle subjects such as:

  • Roles and Responsibilities: what does it mean to be an owner?
  • What does it take for a family member to become owner of the business?
  • Developing Next Generation development plans, responsible stewardship, and governance?
  • Differences between 1st/2nd and multi-generational business?
  • Choosing Trustees: Family and non-Family.
  • Interaction between trustees and the board.

Fireside Chat with Rupa Patel, Executive Director at Day Lewis Pharmacy

The programme ended with an extremely well received Fireside Chat with FBUK member Rupa Patel, 2nd generation Executive Director of Day Lewis Pharmacy, on the subject of – ‘When ownership is passed on: challenges and generational dynamics.’

Rupa captured the attention of the audience with a frank, insightful and emotional account of her personal experience of living and working in a multigenerational family business.

Delegates ended the day with another opportunity to meaningfully connect over drinks, exchanging views on the day’s programme, and what they shall takeaway & implement from today’s learnings, whilst getting to know one another.

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).

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, including:

Further Ownership Resources:

  1. Challenges Of Running a Family Business
  2. What type of Owners do you want?
  3. Fostering Responsible Ownership
  4. Ownership Wealth and Transfer
  5. Employee Ownership Trusts

 

FBUK Launch 2024 Programme of Family Business Masterclasses

Following on from the successful Autumn 2023 launch of Family Business UK’s expert-led Masterclasses, we are delighted to announce our expanded 2024 programme of Masterclasses for family business.

The FBUK Masterclass programme is a series of comprehensive, family business focussed one-day courses designed to support family business owners, family members, operational directors, shareholders, non-family executives and NEDs, to navigate the complexities and nuances of managing, directing, and owning a family business.

Launching in 2023 with hugely successful sessions on Succession in association with sector experts at Alembic Strategy, Farrer & Co, and KPMG and Governance in association with the experts at Boodle Hatfield and PwC,   the 2024 programme has been expanded, to meet demand.

Including Masterclasses on Ownership, NEDs, Succession and Governance, ensuring there is a session of material import for everyone, no matter your role in the business or family.

The Masterclass series is delivered in collaboration with leading family businesses and industry experts, combining a mix of facilitated learning, peer discussion and knowledge share, “live” family business case studies and shared experiences, and tailored workshops. Providing the opportunity to further best practice, amongst families, and specifically tailored to the unique needs of family enterprise.

The Masterclass series features the rare opportunity to hear real-world case studies from family business owners, including, in 2023, representatives of:

  • William Jackson Food Group
  • The Clancy group
  • Dormole Ltd
  • Sigma Pharmaceuticals
  • NG Bailey
  • Bettys & Taylors of Harrogate
  • Wates Group
  • Laithwaites Wines.

And are facilitated by Family Business UK and experts from:

  • Alembic Startegy
  • Boodle Hatfield
  • Deloitte
  • Farrer & Co
  • KPMG
  • Natwest
  • PwC
  • Saxton Bampfylde

2024 Masterclass Line-up

  • 16th April 2024 – Ownership Masterclass: Exploring ownership structures, the role of trusts, the implications of share-structures, building a tax effective business, and responsible stewardship.
  • 14th May 2024 – Non Executive Director Masterclass : Exploring readiness to recruit our first non-family NED? Finding and onboarding NEDs, the role of the NED (family and non-family) seeking ROI, and maintaining family values and culture.
  • 27th September 2024 – Succession Masterclass: Exploring the choice to be a family in business? And the purpose of the family business, managing family dynamics, engaging the next generation, different roles in the succession planning process, and succession planning – structures, tips and shared peer experiences.
  • 6th November 2024 – Governance Masterclass: Exploring the role of family governance. Corporate and family governance models, roles and practical action to fill skill gaps, finessing  governance for your family business.

To learn more about the 2024 Masterclass series for family business Download the Masterclass Programme here.