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:
- Challenges Of Running a Family Business
- What type of Owners do you want?
- Fostering Responsible Ownership
- Ownership Wealth and Transfer
- Employee Ownership Trusts
