In the last two episodes we discussed the governance landscape for family businesses and how the right governance structure can help family businesses build a sense of purpose. In today’s episode, we look at bringing in the next generation.

Key questions raised in this episode:

  1. [0:42] The survey looked at how a family could become a brand in its own right. Can you talk about why that could be important?
  2. [2:37] To what extent are you seeing families develop a social purpose as well as a business purpose that reinforces that brand?
  3. [4:04] Can you give some examples of what this looks like in practice?
  4. [5:12] Is this an important tool to bring in the next generation?
  5. [5:52] What other elements are important for engaging the next generation?
  6. [7.20] How can the right governance structures encourage this engagement?

You can read the full Family Business Survey here: https://bit.ly/3kuu3yQ

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CREDITS:

Hosts: Rupert Phelps, Cherry Reynard
Producer: Laura Burrows

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This episode was recorded on 03/03/2021

This S&W The Pulse podcast is of a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said. The views expressed are not necessarily those of the presenter or of Smith & Williamson or any of its affiliates. No reproduction of this podcast may be made in whole or in part for professional or recreational purposes. No action should be taken based on this podcast and we accept no liability if we change your views on any of the subjects mentioned.

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