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WBFamilyBusiness

Talks about UK family businesses, his journey and the elephant in the room

03/12/2024

More Than Just the Family Business

Ever feel like the corporate world looks at family businesses and thinks, 'Aw, that’s cute'?

Well, as Thumper would say, ‘If ya can’t say somethin’ nice…’ 😉

Sure, we might not have the fancy titles, smart suits or the corner offices, but we’re putting in the hours, tackling every challenge, getting the scars, and proving our worth every single day.

To certain people, family business may seem small, but we know better:

🐘85.9% of all private sector businesses in the UK are family businesses,
🐘There's around 4.8 million family businesses in the UK
🐘Family businesses employed about 13.9 million people,
🐘51.5% of private sector employment is through family businesses
🐘Family business contributed £575 billion in gross value added (GVA) to the UK economy.

Anyone else out there encountered those stereotypes?

Let’s hear from others who are making family business proud and redefining what it really means.

28/11/2024

‘It's a family business thing... you wouldn't understand’ isn’t just a casual remark—it’s a way of life!

From someone calling your phone at your son's sports match and asking "can I have a word about ... ?"; or a full blown impromptu business meeting during family birthday party; to having your cousin handle social media because, well, she’s 'good with computers', the nuances are endless.

And let’s not forget the strategic retreats that suspiciously happen on a family holiday; or how your family’s old stories somehow morph into business lessons at gatherings.

Yes, running a business with family is like living in two worlds at once—where professional and personal lives blend so seamlessly, sometimes it’s hard to tell where one ends and the other begins.

How many of you have said or thought It's a family business thing ... you wouldn't understand? Or had those 'only in a family business' moments? I certainly have.

Share the quirkiest, most bewildering experiences that only others in the family business could truly get.

26/11/2024

Ever play hot potato with family business responsibilities? 🔥🥔 🔥

It’s that thrilling time to pass the baton without dropping it! If you're juggling leadership roles like a Sunday roast, here’s a few tips to keep the gravy from spilling:

🐘 Define Roles Clearly: Make sure everyone knows who’s catching the potato next!

🐘 Establish Transition Protocols: Just like a game, having clear rules helps avoid dropping the potato.

🐘 Encourage Open Communication: Keep talking so no one gets surprised by a hot spud!

It’s never easy passing a “hot potato” leadership role in a family business without singeing a few fingers; and it's always fascinating to see how some families handle that particular toss with such finesse.

What's the best bit of advice would you give to a family business currently navigating a leadership handover? let me know in the comments

21/11/2024

Mine! Mine! Mine!

Anyone who has seen Finding Nemo and works in a family business may have a wry smile on their face right now .... why?

Family businesses can be a bit like the seagulls in 'Finding Nemo'; and 'Mine! Mine! Mine!' is an all too real issue. It happens when leaders cling to control, forgetting that the true strength of a family business lies in collaboration and shared vision.

Being in a family business where the people at the top behave more like seagulls can be tricky, and it's crucial for the long-term health of the business to foster an environment where ideas and responsibilities are shared, not hoarded.

Here’s how you can start to change Mine! Mine! Mine! to Ours! Ours! Ours!:

🐘 Inclusive Decision-Making: Involve various family members in the strategy discussions to broaden perspectives.

🐘 Succession Planning: Regularly update succession plans to ensure everyone understands their role in the future of the company.

🐘 Open Communication: Encourage open lines of communication to discuss concerns and aspirations openly and honestly.

Has your family business mastered the art of sharing, or are there still 'seagulls' making noise? Have you seen happen this in a family business?

19/11/2024

All too often in a family business 'Plan A' is just a warm-up!

If your original plan fizzled out, no need to fret—the alphabet is generous, offering 25 more chances to get it right. Every letter is a new chapter in your family business, filled with lessons and opportunities.

You won't be the first family business that has ventured deep into the alphabet of planning, and you certainly won't be the last. It's how you adopt, adapt and improve after each stage in the process that counts.

Don't forget, pivoting from Plan A to Plan B (or even Z!) can be easier in a family business when you need to look at taking innovative steps to drive your family business forward.

Let me know:

🐘If this has happened to you
🐘What plan you're on
🐘What advice you'd give to others in this situation

16/02/2024

Family businesses in the UK lead the way in investing in their employees' skills and potential.

In 2019, family businesses spent a total of £38.5 billion on staff training and development, which was 17.4% MORE than non-family businesses.

This shows how family businesses recognise the importance of their employees and look to create a culture of learning and innovation.

We should all celebrate and support family businesses for their dedication to their employees and their future!

15/02/2024

Family businesses are more than just businesses...

They're also families that care for their employees' development and well-being. Who value their employees as their greatest asset. Often fostering a culture of learning, growth, and trust.

Did you know 72% of family businesses invest in their employees' training and education; and 65% offer flexible work arrangements and benefits?

14/02/2024

Happy Valentine's Day to all the family businesses in the UK! 😍

You're the 💖 of the UK economy, contributing to 88% of all private sector firms and generating over £1.45 billion. You are also the source of love, loyalty, and legacy for your families and communities.

We appreciate all the wonderful UK family businesses 🤗

Thank you for all you do.

13/02/2024

Did you know that there are nearly 4.8 million family businesses in the UK?

That's 88% of all private sector firms in the country!

Family businesses are the backbone of our economy, providing jobs, innovation, and social value.

But they can also face unique challenges, such as succession planning, governance, and family dynamics.

That's why we are here to support them with our expertise, network, and resources. Join us today and become part of the family business community.

12/02/2024

Did you know family businesses in the UK were the backbone of the economy during the pandemic?

They showed remarkable resilience and adaptability in the face of unprecedented challenges and uncertainties; and a recent survey found that 69% of family businesses were able to respond quickly to changing circumstances and 66% were able to innovate and find new ways to operate.

This reflects how family businesses are unique in having a strong sense of purpose, values, and vision that guide them through crisis and recovery.

Let's recognise and support family businesses for their amazing achievements and contributions to the economy, society, and the environment!

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Monday	9am - 5:30pm
Tuesday	9am - 5:30pm
Wednesday	8am - 6pm
Saturday	9am - 12pm

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https://wbconsultancy.co.uk/

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