Business Family Enterprise Report - Moving From Success to Significance

Doug Chisholm on how openness to change and expecting the unexpected have helped Chisholm Lumber thrive since 1857

Job losses and cuts to investment plans are looming as inheritance tax changes due to come in next year affect firms and farms around the country

Five ways to sustain success when working with family. Jun 4, 2025 Many multi-generation business leaders will tell you that there is something special about working in a family business, and having strong ties that go beyond the 9-to-5 work day. These businesses, like the one I lead, are often centered on embodying strong values, trust, and building a legacy. The key is to balance tradition with innovation, and keep your eye on the future. Here are five lessons I learned in the 10 years I have

In family enterprises, a proactive approach to age and retirement is critical. Jun 3, 2025 With former President Joe Biden’s recent announcement regarding his cancer diagnosis—and speculation about a coverup—the debate about age, leadership, and competence is again in the news. In most organizations, age-related questions are not critical. Typically, leadership transitions take place long before questions of competence arise or at the first sign of a leader’s decline. But family businesses are

PM should immediately reverse this levy as it will cost more than it raises and punishes aspiration, says Tory shadow business minister

Thriving across the ever-changing seasons is hard enough without structural misalignments among owners around long-term vision. How to get on the same page.

Adolescence is a time of great personal transformation—and arguably the best time to reach your future leaders. Seven ways to nurture an owner’s mindset during these formative years.

The fastest way to improve your company is to start seeing it through a buyer’s eyes. Here’s how to begin.

For starters, Dental Premier CEO Julie Charlestein recommends a soft sell and targeted development.

Internecine battles in closely held firms need not lead to deadly civil wars.

These five strategies can help your company to stay on track through a generational leadership transition.

It Is What It Is, And What It’s Going to Be I’ve been known to say, somewhat cynically, that the secret to happiness is having low expectations. The reactions that this statement elicits vary, of course, but rarely do people take me up on it for discussion. So this week I feel like delving into […]

For graduation season, here’s a cautious promotion of strategic nepotism in the family business. Jun 1, 2025 It’s graduation season, and nepotism is in the air. It’s a critical time for business-owning families considering the merit of offering jobs to their new grads. Many families may hesitate because hiring them at this career stage might be based more on genes and their name than specific skills or qualifications. In other words, it’s nepotism. That’s not necessarily a bad thing. Yes,

Running a family business can be one of the most rewarding yet challenging ventures one can embark upon. Whether you’re planning to start one, currently involved, or just curious about how they operate, gaining insights into the foundational aspects can be incredibly beneficial.The Importance of Family BusinessFamily businesses are integral to the economy. Approximately 70% of global businesses are family-run. These enterprises contribute significantly to local communities, providing jobs and dr

In the intricate world of family business, where personal ties and commercial ambition are woven tightly together, the notion of purpose is not just a guiding light—it is the very foundation upon which enduring success is built. Unlike publicly traded companies driven predominantly by shareholder returns, family enterprises are often defined by deeper motivations. These businesses carry legacies, shape communities, and frequently strive for something far greater than mere profitability.At its he

Lately there has been a marked uptick in commentators predicting an impending mass transfer of wealth to the next generation within families. My experience suggests that such predictions should be regarded warily.13 years ago I undertook a qualification in business exit planning, designed to equip consultants with the skills needed to help business owners prepare for their inevitable exit, either by external sale or transition to the next generation of their families.The text for this course wa

Recent news that Prada has agreed to buy Versace in a £1.1billion deal, that brings together two of Italy’s biggest luxury fashion brands, highlights the success delivered by the company’s owners and their determination to keep their business independent and under family control. Duncan Jackson, CEO of Buckles Solicitors LLP, shares his thoughts on succession and the lessons from this recent news for other family firms.Prada was founded by Mario Prada in 1913 and has transformed from a small le

In today's fast-paced and high-pressure work environments, employee mental health and well-being are not just “nice-to-have” extras—they are essential obligations. Employers in the Republic of Ireland, and beyond have a legal and ethical responsibility to support the mental and emotional wellness of their staff. But beyond compliance, fostering a psychologically healthy workplace is simply good business. A mentally well workforce is more engaged, resilient, creative, and loyal.Too often, the emp

Family businesses form the backbone of Britain’s economic and social landscape. Often modest in appearance, they represent a powerful force—woven from generations of hard work, trust, and a deep connection to both place and purpose. From village butchers to centuries-old textile firms, family-run enterprises combine history with resilience, offering a model of sustainability and identity in a fast-changing world.Across the United Kingdom, family businesses account for around two-thirds of all pr

Succession planning is often one of the most delicate and decisive phases in the life of a family business. While many enterprises thrive on the strength of their traditions, they can falter without a clear roadmap for leadership transition. A robust succession plan ensures not only continuity of operations but also the preservation of values, identity, and vision across generations.Too often, families delay these conversations, either out of discomfort or optimism that “there’s still time.” How

In an era of fleeting trends and throwaway retail, one Taunton business stands as a remarkable thread of continuity. Hatchers, the family-owned department store nestled in the heart of the High Street, is celebrating a truly astonishing milestone — 250 years in business. Founded in 1775, it’s one of the UK’s oldest department stores and a living, breathing chronicle of British retail history. Paul Andrews spoke to Mark Raisey, the current generation of one side of the two families who continue

Most family businesses reach a point where the board needs more than just familiar voices around the table. This usually happens as the business grows, the family becomes more complex, or the next generation starts to step up. It might be when a founder is preparing to take a step back, or when the rising generation starts to push for change. It’s often a moment of reflection, a point where the family realises it needs a fresh perspective to help plan the next chapter. At this stage, a Non-Execu

Indian family-run businesses, crucial to the nation's growth, are increasingly adopting formal succession planning and family constitutions, mirroring practices of larger conglomerates. Driven by experiences of conflict and the need for investor confidence, these businesses are structuring operations, defining roles, and establishing decision-making protocols. While navigating family dynamics remains challenging, the trend signifies a shift towards professionalization and long-term sustainability.

Inheritors are ‘often ready to take part in decision making long before they’re given the ability to do so’

For some young workers struggling to get their foot in the door, the answer is to finally take up mom or dad’s offer to join the family business. Wall Street Journal reporter Rachel Wolfe tells host Ariana Aspuru how they’re making it work.