The unexpected EU referendum result has ushered in a period of uncertainty for the UK. When will the UK trigger Article 50 to begin its two year countdown to exit? What will the UK’s trading relationship with the EU and rest of the world look like after exit? Will Brexit mean the UK will struggle
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9 ways to keep your staff motivated
by Ben Lobel • • 0 Comments
Keeping your employees motivated doesn’t always require a sky-high pay packet; it’s the little things that often count. Any small-business owner should know that a motivated workforce is needed at the heart of their business and can provide many advantages – increased productivity, fewer absences and a lower staff turnover, just to name a few. Differing
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Five ways to grow a beautiful business
by Melanie Luff • • 0 Comments
Beauty is in the eye of the beholder, but it’s safe to say there’s one trait that’s attractive to all business owners: profitability. Any entrepreneur knows that getting your business off the ground requires a lot of time, research and investment. Once your business has established itself and you are finally making a profit, you
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Starting a family business: the dos and don’ts
by Ben Lobel • • 0 Comments
At its best, a family business is a vibrant partnership whose values radiate throughout the company.
Unfortunately, family businesses can often be risky enterprises too, especially those that are reactive rather than proactive and rely too much on ‘blood loyalties’.
Let’s look at some smart strategies for starting or buying a business with family members.
Agree on a leadership structure
A business can be a tough test of family bonds so, no matter how strong the loyalties, it’s essential to put an agreement in place that spells out the decision-making process.
While this can just mean how management decisions are made, to be effective it should clearly detail leadership roles and responsibilities.
It should also, for example, determine the criteria that applies to critical appointments and senior promotions at boardroom level.
Professional help will be invaluable at this stage, and family businesses seldom regret consulting independent opinion – especially at the outset when such agreements are more easily secured.
Such action can add an air of transparency and fairness – a distinct advantage if problems arise later.
Agree on a corporate strategy
All companies should plan ahead, but family-run concerns particularly need to set out a clear strategy for investment priorities, remuneration structures and how company profits are distributed.
New family