Running a family business can be challenging and it’s common for conflict to occur. Whilst family businesses are becoming more prominent and recognised as the ‘backbone of the UK economy’, they come with the risk of family dynamics interfering with the running of the business. Our expert team specialises in helping families build high performing teams through vision, creation and strategic planning to prepare the next generation for leadership and succession.
However, having your family there to support the business can be rewarding as well as challenging. The key to running a successful family business is balance; balancing family and business interests, which often requires compromise. It is often personality and emotions that cause conflict within a family business, making it essential to integrate succession and leadership plans.
Family businesses that are in transition from one generation to the other are often the ones that face conflict. Conflict can often escalate over time due to the root of the problem being ignored. Succession planning for a family business gives you peace of mind and having a plan in place lays down the firm’s direction for the future, giving security when handing over to the next generation.
As the North West Centre for Family Businesses, the experts at PM+M give advice and guidance in succession planning, vision and strategy, and our expert advisers are trained in conflict mitigation. PM+M has over 90 years of experience working with family businesses in the North West and we provide support every step of the way.
For more information on how to have a successful family business, come along to our FREE seminar on Tuesday 18 November (8am-1pm, breakfast and lunch provided) and hear from award-winning guest speaker Peter Roper, The Family Business Man.
To book your place on our FREE family business seminar, call 01254 679131 or email firstname.lastname@example.org.
Would you like to win an iPad? Take part in our Family Business Survey 2014.