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Family businesses going under the microscope



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Published Date: 29 August 2008
A MAJOR survey into family businesses, which employ half the region's workforce, is to be carried out throughout South Yorkshire, North Derbyshire and North Nottinghamshire.
The aim of the study, by independent chartered accountants and specialist business advisers Hawsons, of Glossop Road, Sheffield, is to identify the issues involved in running a family enterprise with a view to maximising their long-term success and improving the survival rate.

The survey, supported by the Sheffield Telegraph, is also seen as a move to help the local economy because family-run concerns account for three quarters of the region's businesses.

Carried out in association with Praxity, the alliance of independent accountants from countries all over the world, and also the International Centre for Families in Business based in Bristol, the survey asks vital questions about the operation of family companies, including positive and negative aspects.

Richard Frost, managing partner of Hawsons and also chairman of Praxity's Family Businesses working party, said: "Research has shown that only 30% of family-owned and run businesses make it through the second generation in the same family ownership and less than 10% make it through the third.

"It is clear, therefore, that they need specialist help and we hope that the survey will identify the issues where help is needed most.

"Family concerns make such a tremendous contribution to the economy so it is essential that they are successful in both the short and long term."`

Richard is one of only ten people throughout the UK to have been recently awarded a postgraduate certificate in family business advice through the International Centre for Families in Business.

This new qualification emphasises the importance of family dynamics to the success or otherwise of a business.

Richard added: "The certificate recognises that there is much more to helping family businesses than merely offering technical guidance.

"We need to get right to the heart of the family and understand all the different dimensions if our help and guidance is to be really successful. Family implications need to be discussed alongside the business issues."

Other Hawsons' partners and staff will also be undergoing training in family business matters through the International Centre.

The results of the survey are expected at the start of October and all replies will be carefully analysed so that the issues of most concern can be addressed.

lCopies of the survey questionnaire can be obtained from Hawsons by contacting Mel Chittenden on 0114 2667141 or mac@hawsons.co.uk



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The full article contains 425 words and appears in Sheffield Telegraph newspaper.
Page 1 of 1

  • Last Updated: 29 August 2008 6:49 AM
  • Source: Sheffield Telegraph
  • Location: SHEFFIELD, SOUTH YORKSHIRE
 
 

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