Business Family Enterprise Report - Moving From Success to Significance

In a typical boardroom, decisions are driven by data, profit margins, and shareholder value. In a family business, those same decisions might also be shaped by something more complex — memories of a founder’s sacrifices, loyalty to a sibling, a parent’s legacy, or the weight of tradition passed down through generations.Family businesses occupy a unique and emotionally charged space where the personal and professional intertwine. While this deep sense of connection can be a powerful asset, it can

In a world where business often prioritises quarterly profits and rapid expansion, family-owned enterprises stand out. They carry a legacy, a name, and a deep-rooted commitment to people and place. But this legacy brings with it a unique responsibility: the duty of responsible ownership.Responsible ownership goes far beyond holding shares or making strategic decisions. It’s about stewardship — caring for the long-term health of the business, the well-being of its people, and the values that unde

Amid global economic uncertainty, from geopolitical tensions to inflationary pressures, it’s easy to miss a quieter, yet equally critical crisis closer to home. New research from Manx Financial Group reveals that nearly a third of the UK’s SMEs have been forced to pause or abandon growth plans due to a lack of access to finance.Let that sink in - 30% of the businesses that make up half of all private sector turnover in the UK have had to hit the brakes, not for want of ideas, ambition, or market

Two years post-management buyout, we speak with Enspec’s majority shareholders about the highs and lows of operating their family business, implementing a people first company culture, the importance of mental resilience and what lies ahead for Enspec and its growing client base. How do you feel when reflecting on the early days post-MBO?Tim: "We knew taking over would be challenging. The first year felt like a trial by fire as we transitioned to managing our own responsibilities, leading the te

Small business owners face a growing challenge: the “infinite workday” is stretching hours and draining productivity. To protect teams from burnout and sustain creativity, leaders must set clear boundaries, rethink workflows, and prioritise wellbeing.For many small business owners and their teams, the modern workday no longer starts at 9 or ends at 5. Instead, it can stretch from dawn to dusk – sometimes even beyond. According to research conducted by Microsoft, the “infinite workday” is now a d

In the world of family businesses, the lines between professional and personal often blur. Your teams aren't just employees; they're often your siblings, cousins, and even your children. This deep connection makes the health and wellbeing of everyone within your business not just a strategic consideration, but something truly heartfelt. Prioritising their wellbeing isn't just about the bottom line; it's about safeguarding the happiness and security of your extended family and the legacy you are

Leading a business in the UK today demands more than just commercial acumen. In a climate shaped by uncertainty, evolving workforce expectations, and rapid technological change, business leaders are navigating a landscape that is as complex as it is competitive. The challenges they face are varied and interconnected, requiring strategic adaptability and strong leadership.1. Economic Uncertainty and Inflation PressuresDespite some signs of stabilisation, the UK economy continues to present signif

Why families stall around people and leadership—and what helps move things forwardMost families don’t call us in a crisis.They get in touch when something’s been hanging in the air for a while. Talked about. Circulated. Tension rising—but no real movement.You know the kind of thing: • “We’ve talked about it loads—but nothing’s actually happened.” • “We think we need someone—but we’re not sure what for.” • “We need to sort succession—but it’s never the right time to bring it up.”These conversat

Leaders who say one thing but do another aren’t just letting their teams down — they’re harming their own performance too, according to new research from Durham University Business School.The study shows that acting inconsistently with stated values often causes leaders to feel shame, leading to avoidance behaviours and poorer task performance. This can undermine overall leadership effectiveness.Conducted by Dr Anders Friis Marstand, Professor Olga Epitropaki and Dr Ziya Ete of Durham University

A national survey commissioned by UK law firm Brodies LLP has revealed that UK residents aged 50 and over are underprepared for the upcoming changes to inheritance tax (IHT), with only 26% fully understanding how the new rules will impact their wealth transfer plans.The representative YouGov survey of 2,001 adults highlights concerning gaps in estate planning and family communication, raising alarms about the risks of inadequate succession strategies in the wake of the new IHT rules.Key Findings

Family businesses are often viewed through the lens of tradition—steadfast, familiar, and consistent. But beneath the surface lies a quiet revolution. Increasingly, it is the interweaving of different generations within these firms that is driving innovation, digital transformation, and strategic evolution.Where one generation brings experience, resilience, and long-term thinking, the next brings fresh perspective, digital fluency, and a desire for change. Together, they create a dynamic partner

Thousands of family firms face being wiped out by a little-understood tweak to inheritance tax rules, experts say. The move by the chancellor, Rachel Reeves, to charge death tax on pensions could force the liquidation of businesses, jeopardising jobs and the broader economy, according to the wealth manager Evelyn Partners. It said that about 15,000 businesses are at risk. From April 2027 unspent pension assets will be subject to inheritance tax and, crucially, pension schemes will have to settle

Leading a family business for the first time can be filled with complications. Here are five tips from a second-generation owner. Jul 2, 2025 Taking over the family business sounds like a natural next step for many people, but in reality, it’s often anything but simple. Between generational differences, shifting business landscapes, and overcoming the natural perception that the title was simply given, there’s a lot more to the handoff than most people think. At Soft Touch Furniture, a Girard,

“I cannot rebuild what I did in my lifetime.”

Working Hard So They Won’t Have To There are some challenges that people in my line of work see over and over again, but that usually lie somewhere beneath the surface. We’re talking about transitioning family wealth from one generation to the next in a productive and meaningful way, which is so challenging because the […]

It’s fair to say that both Denver’s baseball and basketball worlds have been more rocky than Rockie lately—not because of a dropped-in-the-rain pop fly or a Game 7 loss, but by front-office shakeups that revolve around a common denominator: family business.

The problem with grounding the business firmly in legacy is that it implies an immovable reference point. Jun 27, 2025 Several years ago, one of my MBA students announced in class that she “would never work with her father” in their family business. She shared how they’d recently had a heated discussion about work ethic. She said, “Dad pointed out how he—and his father before him—kept strict hours. They got to the business by 7 a.m. and left no earlier than 6 p.m. He’d noticed I typically

How Much Does Everyone Need to Give? Working with enterprising families brings with it a wide variety of challenges, as I and many colleague friends will attest. Working in an enterprising family also brings challenges of course, and those of the family members become those of their professional advisors by extension. The interplay of these […]

Generations of pioneering Britons grapple with Labour’s grievous tax changes

The Herrmann kin have reached a temporary accord in their legal battle over the fate of the family businesses, but the dispute is shaping up to become even more contentious.

New faculty, surveys of wealthy families and research projects aim to shine a light on the family office sphere

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