Central to most media attention is the assumption that somehow bad corporate governance is to blame for the scandal of the moment that is, that the systems of checks and balances meant to prevent abuse by executives have failed.
It’s often been said that family business underpins the UK economy. From small enterprises to large behemoths, more than 30,000 family owned businesses operate in the UK, generating £1.3tn in turnover, more than one quarter of the national GDP and employing over 12m people.
Recent headlines encapsulate the tension between decisions made according to the family business agenda and those obligations which begin on incorporation and intensify with growth. To family firm owners this is an ever evolving scale and begs the question: at what point do the interests of external stakeholders take primacy?
As his business begins to crank up growth, Jason Miller, CEO of commercial laundry business CLEAN, revealed what it's like to take on a successful family business and how the purchase of a competitor is opening up new horizons for the fifth generation company.
A growing number of family business owners are opting to review succession plans in light of current Brexit uncertainty and how it might affect retirement planning. Facing such turbulence, open and honest communication between shareholders is vital and must be maintained.
Running a business with your partner can be great. There is nothing more rewarding than going into business with someone who you love and trust. So how can you work with your partner without having lots of disputes, and it effecting your work-life
Carlo Distefano’s first experience of the working world saw him work in a barbershop, but fast forward to the present day and his family-owned San Carlo restaurant group is generating a turnover of £60m.
As the fitness culture grows in appeal worldwide, four friends from the UK saw an opportunity to ride the workout wave and turned a free health blog into a business doubling revenue annually. Real Business spoke with LDN Muscle co-founder Tom Exton about the story so far – and how he fits in his full-time job as a city banker alongside running a profitable company.
Close Brothers Asset Management (CBAM) strove to find out what kept family business owners awake at night – and found ten key issues the majority faced.
Small sushi business Maki, a self-proclaimed challenger to chains Itsu and Wasabi, has made the latest step towards expanding the operation as sibling founders Daniel and Anthony Woodcock open a new shop just several months after the previous one.
There are multiple advantages that come with having a family business; benefits that aren’t often found in other enterprises. From building a more personal sense of trust between employees to avoiding the pitfalls of “office politics”, the demonstration of family values in business can be extremely positive for boosting a brand’s reputation.
Legal expert Melanie Wadsworth uses the example of one of the UK's oldest construction companies to examine what family businesses should consider if looking to float and how it is possible to maintain unique family business characteristics whilst still answering to shareholders.