Discussing Family & Non-family NED’s in Family Business with Deloitte

Last month we were delighted to be hosted by FBUK Partners Deloitte in Manchester to discuss the important role of Non-Executive Directors (NEDs) as well as some key differences between family and non-family NEDs.

Starting the session by tackling some common preconceptions, the presentation then went on to highlight 3 significant attributes which make NEDs valuable to family business: independence, expertise and representation.

The attendees were asked to question what support their family business needed from a NED and an open and interactive discussion ensued about challenges and opportunities a NED might present.

The non-family NEDs shared their experiences of joining family businesses, how they felt they had added value and how they had navigated the internal family dynamics.

Family NEDs shared stories of success around bringing in outside voices, but also when things hadn’t gone right and some of the causes for that including misaligned expectations.

The group also discussed the role that non-family NEDs can play in supporting the next generation to improve their knowledge and understanding of the business, and in providing a more neutral but supportive place to take questions they may not feel comfortable putting to their senior family members.

FBUK would like to extend their thanks to Deloitte for hosting this session and sharing their presentation.

If you would like to delve deeper into the topic of NEDs or find supporting materials to answer your questions (on hiring or becoming a NED), the FBUK Member Resource Centre has a wealth of materials accessible to you, particularly:

Further NED Resources for Members

  1. Incorporating Non Executive Directors in the Family Business
  2. “Professionalising” the Family Business – The Family Business Podcast
  3. How to choose a Family Business NED
  4. Challenges of Running a Family Business
  5. Maximising People Capital
  6. Understanding Family Business

NED Masterclass 2024

FBUK are also delighted to be holding a one-day, comprehensive NED Masterclass  this year; bringing you an in-depth programme to aid and support people involved in family businesses (be they owners, family members, executives or in Board roles) navigate the complexities and nuances of managing, leading and/or owning a family business.

The NED Masterclass programme will include:

  • Real-life examples and case studies – Getting the right people;
  • How to position the family business when recruiting and attracting NEDs;
  • Board composition; assessing skill gaps, differences between family and non-family NEDs;
  • The role of the NED, onboarding and embedding NEDs for value-add.

Find our more about the Family Business Masterclass programme

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.