Family businesses are the mainstay of the UK economy, accounting for more than a third (36%) of employment, and generating over a quarter of UK GDP. But running a family business presents a unique set of challenges.
With the business and family structure so closely linked, keeping a business in the family can often mean walking a fine line between emotional and logical decision making.
As Deputy Chairman of CPJ Field, a tenth-generation funeral directors which dates back to the late 17th century, our business is well practised at navigating this often tricky landscape.
More often than not, the process of tackling the biggest family business challenges starts with a conversation. Open and honest communication is at the heart of any successful family business.
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