Tag: Family Business

FBUK announces Corporate Partnership with Boyden Executive Search

Posted on by Abbie-Louise

FBUK announces Corporate Partnership with Boyden Executive Search

Family Business UK are delighted to announce a new Corporate Partnership with executive search, interim management and leadership consultancy Boyden Executive Search, launching today, Monday 28th October 2024.

Family Business UK (FBUK) has established Corporate Partnerships with carefully selected and highly respected organisations, that provide compelling professional services and expert tailored support to family businesses.

They are critical allies and supporters of our work with UK family businesses, ensuring generations to come inherit a more prosperous, inclusive, and sustainable future.

We are delighted to announce the launch today of FBUK’s new Corporate Partnership with Boyden.

Boyden, a leading executive search, interim management and leadership consultancy firm supports business owners, families, and leaders, understanding that family businesses are built on more than just numbers — they’re built on relationships, values, and a shared vision.

Boyden and Family Business UK share a robust understanding of the complex dynamics within family businesses.

Boyden act as part of their clients’ business, providing objective advice on the strength of their team, combined with solutions that enable them to grow or transform in an ever more complex business environment.

Boyden offer a comprehensive range of services tailored to the unique needs of family businesses, including:

◆ Executive Search (both Executive and Non-Executive)

◆  Interim Management/Fractional Support

◆  Leadership Development/High Performing Team Programmes

◆  Succession Planning (Identification and Coaching)

◆  Assessment and On-Boarding

This partnership signifies a further step in strengthening the network of support for UK family businesses, helping ensure the sector flourishes for generations to come.

Nick Robeson, Founder and CEO at Boyden UK & Ireland said:

“Our engagement with FBUK was built through a very clear sense of common purpose for both our organisations.

“Boyden in the UK and Ireland is owned by Lisa Farmer and I, so we understand the pressures of owner-management and have been doing so for 20 years”.

“Some of our most memorable and durable relationships have been built literally around the kitchen tables of family-owned businesses.

“We felt honoured to be asked by FBUK to support its Members through this partnership.”

Neil Davy, CEO of Family Business UK added:

“Having Boyden onboard as a Corporate Partner is a fantastic addition to our growing portfolio of leading service providers to family businesses.

“Boyden truly understands family businesses, and their ethos. And their approach to working with and supporting their family business clients reflects this, which makes them an ideal partner for FBUK, and advisor to our Members as they build their resources and future talent in their businesses.

“We’re delighted to welcome them on board and look forward to working closely with them over the coming years.”

About Family Business UK

Family Business UK is a movement of family businesses working to create a more prosperous and sustainable future for generations to come.

Find out more about Family Business UK’s support to the sector, and our carefully selected corporate partners, providing meaningful services to UK family businesses at https://project1-4204x58ma2.live-website.com/who-we-are/our-network/partners/

About Boyden

Boyden is a premier global leadership and talent advisory firm that can serve client needs anywhere they conduct business.

Contact the Boydon team for further information as to how they can help your family business today, with executive search, interim/fractional support, succession planning
and leadership consultancy at: https://www.boyden.com/

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The Norfolk Family Business surviving and thriving across Four Centuries

Posted on by Abbie-Louise

The Norfolk Family Business Surviving and thriving across Four Centuries, Ten Monarchs and One family

In the heart of North Norfolk lies a fascinating family business that has not only survived but thrived through four centuries, ten monarchs, and the hands of nine generations, to-date.

Bakers & Larners of Holt part of the CT Baker Group, is more than just a business; it is a cornerstone of the community it has served for over 254-years.

And last week, Family Business UK members had the privilege of visiting this remarkable establishment, where tradition and innovation continue to shape its journey.

A Legacy Rooted in History

Bakers & Larners has been trading from its historic home at 8 Market Place, Holt since around 1810. The Baker family became involved in the business in the 1770s, and their influence, and stewardship, has been felt ever since.

Through the centuries, the family has continuously diversified and adapted the business to meet changing demands, weathering economic shifts and societal transformations.

What began as a humble ironmongery has evolved through various incarnations, including blacksmithing, brewing, gunsmiths & sporting goods, heating engineers, drainage contractors, and agricultural machinery—testament to the entrepreneurial spirit that has carried the family business through time.

Even as far back as the 1750s, the early custodians of the business were employing and training local apprentices. This commitment to nurturing local talent has remained a hallmark of Bakers & Larners, making it a true family business in every sense—both for the Bakers and the generations of employees who have been part of its success.

A “Town Within a Town”

Today, Bakers & Larners stands as a 41,000 square-foot department store that offers everything from fine wines to furniture, with its famous Christmas hampers rivalling those of perhaps more recognisable London department stores.

The original 1600s wine cellars, one of which was “lost” for generations, are still in use today, providing a unique connection to the business’s deep roots.

With approximately 80 employees in the store, all of whom are based in north Norfolk – many representing multiple generations of the same local families, Bakers & Larners is not just a store but a “town within a town,” deeply woven into the social and economic fabric of Holt.

The wider CT Baker Group accounts for c215 employees, across the department store, 2 supermarkets and 4 builders merchant depots, all within North Norfolk.

Community First

Bakers & Larners’ long-standing commitment to its community was perhaps most evident in 2020, when tragedy struck.

During some of the worst days of Covid, a devastating fire destroyed the family’s Budgens store, leaving the town without a supermarket and its only post office.

Undeterred, the Baker family acted quickly. Within just five days, they had reopened the post office within their department store, ensuring that this essential service remained available to Holt’s largely older population, where over 35% of residents are aged 65 and above.

Additionally, an interim grocery store was set up in the car park to meet the needs of local customers, especially those without suitable transport or digital skills. This rapid response highlighted the Baker family’s deep understanding of and commitment to the community they have served for so long.

Resilience Through the Generations

Through world wars, recessions, and countless economic challenges, Bakers & Larners has stood the test of time.

Under the stewardship of its current managing director, Nick Baker, and directors Malcolm Baker and Felicity Baker-Attew, the business continues to thrive as it enters its 9th generation, with the 10th generation preparing to join imminently, to ensure this historic business family lineage continues, onto the next generation.

The family’s strategic approach has enabled Bakers & Larners to expand beyond Holt, with an established network of family-owned builder’s merchants stretching across North Norfolk, alongside the acquisition of family-business Bettys (furniture and clothing) in 2004, and the addition of the aforementioned Budgens in 2007.

Despite these expansions, the recognisable heart of the business remains its department store—a symbol of stability, growth, and steadfast dedication to the local community.

Custodians of Holt’s Heritage

Bakers & Larners is not just a business; it is perhaps a custodian of Holt’s heritage.

It embodies the values that have sustained family businesses for generations—long termism, resilience, adaptability, and a deep commitment to community.

For nearly 300 years, the Baker family have served as stewards of this business, ensuring that it continues to play a vital role in the local economy while staying true to its roots.

Family Business UK extends its sincere thanks to Malcom,  Nick,  and their teams, as well as our exceptional tour guides, Luke and Natasha, for hosting us and sharing the story of this extraordinary multi-generational family enterprise earlier this month.

Further Reading & Resources

Find out more about FBUK’s Programme of exclusive Family Business visits at: https://project1-4204x58ma2.live-website.com/event-category/family-business-visit/

Find out more about embedding long-termism in your family business at: https://project1-4204x58ma2.live-website.com/resource/embedding-long-termism-guide/

Find out more about Engaging the next generation, the Benefits of multi-generational working and more by visiting FBUK Public Resource’s Centre.

FBUK Members can access an exclusive suite of family business resources, including the unique, Life Stages digital tool and model in the Members Resource Centre.

Westminister debates family businesses and BPR

Posted on by Abbie-Louise

Westminister debates family businesses and BPR

Family businesses have taken centre stage in Parliament ahead of the Budget, with MPs debating Business Property Relief (BPR) and its essential role supporting family-owned firms across the country.

A Westminster Hall debate led by Harriet Cross, Conservative MP for Gordon and Buchan heard from MPs about how BPR and APR (Agricultural Property Relief) is being used to support businesses and family-owned farms in their constituencies.

The debate, which took place less than two weeks ahead of the Labour’s first budget, gave MPs a chance to raise their serious concerns with Government.

Opening the debate, Harriet Cross MP underlined the important role played by BPR and APR incentivising family businesses up and down the country.

 

Will Forster, Liberal Democrat MP for Woking, told Members about the importance of family businesses to local economies like Woking.

 

Nigel Huddlestone, the Shadow Financial Secretary, said the Government must hear the concerns and fears MPs had expressed on behalf of their constituents about potential changes to inheritance tax relief, including BPR.

Huddleston reminded the House that prior to the election, family businesses believed they had received assurances on BPR from the Labour party and called for those assurances to be reiterated.

Responding for the Government, James Murry, the Exchequer Secretary to the Treasury acknowledge that many Members had raised their uncertainties ahead of the budget, including on BPR.

He acknowledged the ongoing debate and the work of Family Business UK in calling for BPR to be retained.

The Budget will take place on 30 October.

You will be able to read Family Business UK’s response after the Chancellor has delivered the Budget to Parliament.

You can read FBUK’s pre-budget submission here.

Visit our Back Family Businesses campaign page here.

FBUK Delivers Succession Planning Masterclass

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FBUK Delivers Succession planning Masterclass

Family Business UK were delighted to host another highly informative Masterclass on the critical topic of Succession in Family Business earlier this week in London.

Over 40 family business leaders braved the inclement weather and attended the Masterclass held in Canary Wharf  – kindly hosted by our carefully selected Corporate Partners KPMG (at their excellent facilities) and with expert contributions from both KPMG, and FBUK partners, Farrer & Co.

This session provided senior family business leaders with an opportunity to engage in knowledge sharing, benchmarking, and best practice, all tailored to the unique challenges of family-owned enterprises.

Succession planning is essential for any business, but in the context of a family business, it forms the foundation for sustained, multi-generational success.

Given the current uncertainties facing the sector, such as potential changes to Business Property Relief, Agricultural Property Relief and Gift Holdover Tax, our attendees benefited from immediate and expert insights to support their succession strategies. (Find out more about BPR in our Back Family Businesses Campaign Hub).

Delegates had the unique opportunity to engage directly with our esteemed panel of senior family business leaders, in our session “Why are you in business together?” including:

  • Nick Linney, Owner and NED of 5th-generation marketing and design agency, Linney
  • George Hillier, Chair of Hillier Nurseries Ltd, of 5th generation, 160-year-old South West Horticulture business.
  • Sophie Seddon, Family Non-Executive Director at 5th-generation family business, Novus Property Solutions (JSSH)

Our delegates heard a compelling fireside chat case-study, sharing the learned experiences of Keith Miller, Group Chair and Ben Cavanna, Family Non-Executive Director, of 4th generation Southwest family business Cavanna Homes, as to their transition between generations.

Our sessions, from “Roles in the Succession Process”  to “Building structures for success“, offered priceless, practical insights into what steps can be taken now to ensure the continued success of family-owned businesses for future generations, on topics such as:

  • Working together as a family and business.
  • Aligning your purpose with your succession plan.
  • Knowing your role and how to be the best at transition.
  • Understanding the rules and regulations

In between sessions, delegates had the opportunity to actively benchmark, by sharing experiences and views in break-out discussions and facilitated workshops, working in small groups. Networking breaks and refreshments were enjoyed throughout.

The day concluded with the opportunity for peers to connect, allowing attendees to reflect on the session’s key takeaways and discuss the next steps for their own organisations and engage in more networking with refreshments in a relaxed environment.

We would like to extend our gratitude to our speakers and corporate partner experts, including Bryony Cove & Anthony Turner from Farrer & Co.

And a special thanks to our carefully selected corporate partners, and hosts, at KPMG, Steve Hickman, Mark Essex, and Craig Rowlands.

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).

Further Resources & Reading 

Public Resources

As part of FBUK’s support for the Family Business Sector, non-members can find a series of Succession Guides, supporting both the Senior Generation to manage transition, and the Next Generation, to find their way in the family business; in our Public Resources centre, as complimentary downloads.

Exclusive Member resources

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, with resources available in forms from Podcasts to Videos, and Expert Guides to short Briefing notes.

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Family Business Week 2024 to Focus on “supporting local economies and communities”

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Family Business Week 2024 to Focus on “supporting local economies and communities”.

Family Business Week will return this year, from 25th – 29th November, to celebrate family businesses as the cornerstone of local communities up and down the country.

In every corner of the UK, Britain’s 4.8 million family-owned firms are key employers, creating meaningful careers for millions of people, and giving back to the communities they serve.

Now in its fourth year, Family Business Week will this year shine a light on the amazing work of family businesses across the country ensuring the contribution they make to our economy and communities is recognised and celebrated.

With events taking place across the country, the entire week is an opportunity for everyone to get behind family businesses and show their support. Family Business Week builds on our advocacy work to demonstrate to government the importance of family firms and the policies needed to sustain them.

Neil Davy, CEO of Family Business UK said:

“From local tradespeople, retailers, makers and tech innovator to some of our biggest and best-known brands, family businesses thrive in every corner of the country. They create wealth through valuable jobs and long-term careers, and social value by investing in the communities they serve.

In this context, Family Business Week is our chance to tell the world just how important family businesses are in our economy. Why not join us in a week of celebration? Join one of our events, reach out to your network – including your local MP – and help us to spread the word.”

Get Involved in Family Business Week 2024

Whether you’re a family business owner, employee, adviser or a policymaker, get involved and show your support.

  1. Show your support on social media
  2. Nominate a ‘Ones to Watch’ candidate
  3. Attend a Family Business Week event
  4. Invite your MP to visit on #familybusinessfriday
  5. Send your MP our Manifesto and back family business infographic

Family Business Week 2024 is proudly sponsored by our corporate partner, NatWest.

Andy Gray, Managing Director Commercial Mid-Market at NatWest said:

“Family businesses are the backbone of our economy and the bedrock of our communities. They make up 90% of the UK’s total private sector firms and employ 14 million people. At NatWest we see real opportunity to support family businesses to grow, innovate and create jobs over generations, driving the UK economy forward for the long term. We are committed to championing the sector and through our partnership we’re excited to meet and support FBUK members.”

Ones to Watch

Our ‘Ones to Watch’ nominations showcase the best and brightest talent in family businesses across the country – individuals who live and breathe the values of family businesses as the lifeblood of local communities and local economies.

Nominations are now open: Download the nomination form

Do you know a champion of local community? An innovator redefining strategy to support the local economy? Someone spearheading the campaign to make their family business a force for good?

Open to anyone working within the business, affiliated charity, foundation, community outreach programme or similar (they do not need to be a member of FBUK or a family member to qualify).

Why Nominate?

  • Celebrate the incredible work of a person in your business and show your appreciation.
  • Raise their profile, and your company’s.
  • Inspire other family business leaders.

How To Nominate

It couldn’t be easier to nominate someone from your business.

Send us an email with the subject ‘Ones to Watch Nomination’ to info@familybusinessuk.org with the completed nomination form attached.

We will then review and shortlist the nominees, and if the person you have nominated is successful, we will get back in touch with you, so you can share the exciting news!

Our judging panel will be considering several criteria when reviewing nominations, including:

  1. Investing in the local economy and community (nomination statement): What is this person doing to invest in their local economy and act as a force for good in the local community?
  2. Enriching your local area: Are there any initiatives which have been implemented to better the surrounding areas with purpose-led sustainability practices, provision of education, social housing, public resources, or improved high streets
  3. Providing employment: Does this person pioneer for the real living wage, job security, flexible working, training and progression, equality or LTIPs
  4. Supporting local suppliers: How do they support local suppliers? Are they using an innovative or creative approach to balance supply and demand?
  5. Local charitable giving: How do they use social value to tackle inequality?

We look forward to receiving your nomination and celebrating Family Business Week 2024 with you.

Family Business Week 2024 is proudly sponsored by our corporate partner, NatWest.

 

FBUK Congratulates New Government

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FBUK Congratulates New Government

Family Business UK would like to congratulate the new Government on its historic election win and extend an invitation to work in partnership to create an environment in which family businesses can prosper.

Following the Labour party’s landslide victory, Neil Davy, CEO of Family Business UK said: “Having campaigned on a platform for growth, we are looking forward to working with Labour in government, on behalf of family businesses across the UK, to ensure the specific needs of family businesses do not get overlooked.

“90% of private sector firms in the UK are family-owned businesses, making up a significant portion of the UK economy.

Family businesses need policies that create stability, and which give them confidence to plan for the long-term, invest in their people, the communities in which they are rooted, and ensure their business can confidently be passed to the next generation.

“How the new Government achieves that and delivers growth for the economy has been the subject of much speculation. But, given the importance of family businesses to the economy it’s clear that if family businesses are allowed to thrive, the economy thrives.

“On behalf of all family businesses across the country, I extend my congratulations to Labour on returning to government and pledge to work with the new Chancellor and Business Secretary to ensure family businesses flourish for generations to come.”

For press/media enquiries please contact familybusinessuk@secnewgate.co.uk.

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FBUK Warns of Changes to Business Property Relief (BPR)

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FBUK Warns of Changes to Business Property Relief (BPR)

Family Business UK has responded to reports that Labour is considering changes to Business Property Relief, warning of the potential consequences of scrapping or amending BPR.

Speaking to The Mail about reported changes to the Inheritance Tax regime, FBUK Chair Sir James Wates said: “This puts hundreds of thousands of jobs at risk in a key part of the economy.

“The relief [BPR] allows companies to plan for the long-term. It raises the question of why someone would put themselves through running a business – as you live and breathe it if your name is above the door – if you face crippling tax bills.”

Reported changes 

The Mail, and other media outlets have reported in recent weeks that the Shadow Chancellor Rachel Reeves is under pressure from others in Labour to raise Capital Gains Tax (CGT) rates as part of an autumn Budget statement – should Labour form the next government.

These proposals also reportedly include changes to Inheritance Tax including making it more difficult to ‘gift’ money and assets.

Steve Rigby, FBUK Board Director and Co-CEO of Rigby Group added: “Whoever forms the next government must avoid policies with unintended consequences that put our businesses at risk. Family businesses are here for the long term.

“Up and down the country we support the communities and local economies in which we are rooted.

“Successive governments, for almost 50 years, have retained Business Relief, which forms part of the Inheritance Tax regime, knowing that it is key to unlocking the potential for investment, growth and jobs among family businesses.”

FBUK - Back Family Business SM Full square (Business Property relief)The importance of family businesses

Ninety percent of all private firms in the UK are family businesses. That’s 4.8 million companies employing millions of people and contributing more than £200 billion every year in taxes.

Our Manifesto sets out what FBUK wants to see from a new government. We would urge you to download it and share it with your local candidates in the General Election – and again with whoever becomes your local MP.

You can find information about all your local candidates, and how to contact them, at the Electoral Commission.

Back Family Business – Assets

FBUK has also produced a series of infographics to highlight the importance of the family business sector to the UK economy.

You are welcome to download these infographics to use on social media channels to help us spread the word about the importance of the family business sector.

We just ask that you tag us in any posts, so we can re-share, on LinkedIn and Twitter/X.

 

FBUK Responds to “Huge fall in Apprenticeships”

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In response to an article in The Times titled “Huge fall in apprenticeships under broken levy” regarding the apprenticeship levy, FBUK’s Chief advocacy officer, Fiona Graham, said;

“The latest research from the Chartered Institute of Personnel and Development (CIPD) reinforces our long-standing argument that the apprenticeship system is simply not working”.

“We hear from family businesses on a daily basis how the system is too complicated, inflexible and burdensome”.

“Family businesses want to train young people and upskill their workforces, but administrative complexities discourage businesses from taking on apprentices. Money, a staggering £4.4billion, that could be used for training is instead returned to the Exchequer without being touched”.

“Quite simply, the current system is holding back the immense potential of family businesses by failing to equip future workforces with the skills, training and support they need, where they need it”.

“To deliver a skills regime that is fit for the future, we need an overhaul of the employee training landscape by refocusing the Apprenticeship Levy and making the skills landscape work for businesses and individuals”.

Future Skills Fund

“The current skills and apprenticeship system needs to be revamped and replaced with a more holistic Future Skills Fund. This fund would provide greater flexibility on how money can be used to encompass apprenticeship support, training and development for existing employees.

“This would allow businesses to use the allocated funding on a wider range of training options and opportunities. Transitioning to a Future Skills Fund would also give businesses greater flexibility and opportunity to use funding for the skills and technical expertise they need. It would better equip local schools and colleges to provide training and skills relevant to the needs of local employers and communities”.

The Future Skills Fund would provide a better deal for employers and employees a number of ways:

➤ Providing greater flexibility in the use of the Fund to support life-long learners and apprentices to study, for example through support of transport or living costs.

➤ Removing barriers between the nations of the UK to ensure money can be spent where it is most needed, not necessarily where it is paid.

➤ Giving businesses a greater say in the development of the local skills landscape and supporting career-long skills development and learning, including when re-entering the workforce after a period of absence.”

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Family Business UK is a growing body of Family Businesses working together to create a more prosperous and sustainable future for generations to come.
Find out more FBUK today : www.familybusinessuk.org

Read the 2024 Family Business Manifesto in full here