With features on securing your legacy through B Corp certification, FBUK's 25th anniversary, making the voices of family businesses heard across policy and politics, tips on planning for the changes to inheritance tax, pop-up boards and new workplace pensions, the latest edition of the Family Business UK magazine is a must-read for anyone wanting a glimpse into the world of family business.
ALSO IN THIS ISSUE The truth about lobbying FBUK The Family Business UK Magazine - March 2026
AI in recruitment
Pop-up boards
B CORP EMBEDDING YOUR FAMILY VALUES
Member news // FBUK Patrons // Collective pensions
Welcome from FBUK CEO
Neil Davy CEO, Family Business UK
“It’s time to speak-up and make the voice of family businesses heard. And FBUK is here to help.”
businesses matter. For more than a decade our COO Fiona Graham has lobbied policymakers to better understand family businesses. In this edition, she lifts the lid on her journey, arguing why standing up, speaking up and building awareness and influence is critical to ensure policymakers and politicians understand the governance principles that underpin the model of family business and what motivates you – the owners and custodians of your family businesses. There has never been a more important or opportune time. For many FBUK Members family values underpin their business, shaping and defining how they work with one another, colleagues, suppliers and customers alike. It’s often a unique selling point that is under-appreciated and poorly marketed. It’s an opportunity missed. This year – as we celebrate our 25th anniversary – we’re calling on you to showcase your innovation and leadership, to help ensure that family businesses in the UK get the recognition and support you deserve from policymakers, the media and consumers.
Alongside the incredible legacies of our Members, FBUK marking a quarter century feels a little trifling. Nevertheless, this year marks our 25th anniversary. We want to use this year as an opportunity, not to talk about FBUK, but to talk about you, by sharing your stories of leadership and legacy. We start in this edition of the magazine by hearing from the two founders of FBUK, or the IFB as it was, Alex Scott and Grant Gordon. Being part of the organisation founded by Alex and Grant makes you part of a diverse community of people and businesses sharing the common thread of family ownership – a thread which confers enormous benefit to the country but brings with it common challenges. Finding shared solutions to those challenges through our advocacy work, peer networks, and the sharing of experiences and learning was as important to the IFB 25 years ago as it is to FBUK today. But an equally important reason for being part of FBUK is helping us tell the world about why family
CREDITS:
The FBUK magazine is designed and printed by Linney.
If you have news about yourself or your family business, or if you have an idea for a topic which you think we should cover, contact the team at press@familybusinessuk.org To advertise your brand or services in the FBUK magazine contact Martin Greig at martin.greig@familybusinessuk.org
2
FBUK Issue 6
FBUK Patrons
These businesses are critical to our movement supporting the development of family values and enterprise, endorsing the nature of long-term patient capital and the strength this brings to the UK and its long-term industrial prospects. In the months since our last Annual Conference, it’s been an honour to welcome these businesses and families as Patrons, and I look forward to sharing more with you in the months ahead. You can see more about our Patron programme using the QR code.
One per cent – it doesn’t sound like much. But, when you are talking about the GDP of the UK at £2.9 billion, or the size of the UK’s private sector workforce at more than 28 million people, then 1% starts to feel much more significant. FBUK Patrons are amongst the UK’s largest private and family-owned businesses. Together they turn over 1% of GDP and employ 1% of the UK’s private sector workforce. That gives our Patrons real weight as a representative body for the family business sector in our discussions with government on strategic objectives for the UK. Our current Patrons are listed below.
Neil Davy
3
www.familybusinessuk.org
Contents
Steve Rigby Chairman of Family Business UK
2 3 4 6 8 9
In 2026, Family Business UK will celebrate a significant milestone: 25 years of championing family businesses across the country. This anniversary resonates personally with me. Last year, Rigby Group marked 50 years in business – a moment for our family to reflect on what we have built, the goals still ahead and the small part we have played in supporting the people and communities that have supported us. We hope we have left both a little better than we found them. Rigby Group is just one of thousands of family businesses that underpin the health and prosperity of our economy, which is why “I am especially proud, as Chair, to help FBUK mark its own 25 years of standing up for this vital sector.” It is a milestone that deserves more than a passing mention because, like the businesses it represents, FBUK has been shaped by the same values that define family enterprise: long-term thinking, strong relationships and the power of pulling together.
Welcome from FBUK CEO
FBUK Patrons
FBUK Chair – Built to last
New FBUK Members
FBUK Member news
B Corp – A blueprint for legacy? 10 Haymarket’s journey to B Corp 14 AI in recruitment 16 FBUK Corporate Partners 18 The truth about lobbying 20 IHT – why families must act now
22 FBUK across the UK 23 FBUK Communities 24 FBUK turns 25 26 CDC pensions – latest 28 Pop-up boards 30 Family Business Week
FBUK Issue 6 4
Built to last
when talent, ambition and long-term ownership are given the room to thrive. Nor does our impact stop at economic contribution. Many family businesses are also active and committed philanthropists, supporting charities, education, local initiatives and social causes. This sense of responsibility to people and place is deeply ingrained – not driven by quarterly targets, but by a desire to leave communities stronger for the next generation.
Across retail, construction, food, aviation, manufacturing and
Over the past quarter of a century, it has grown into far more than a networking forum. Today, it provides a respected and influential voice, ensuring that the needs of family businesses – and their economic, social and cultural contribution – are clearly understood and reflected in policymaking. As recent events have shown, that role has never been more important. The scale of family businesses’ economic contribution was clearly illustrated by the recent Sunday Times list of Britain’s top 100 taxpayers. “A closer look at the list shows that leading UK family businesses have together contributed billions in tax.”
infrastructure, family-owned firms quietly help power the UK economy. Well-known names such as Pentland, Timpson, Arnold Clark, Murphy Group, Wates, Warburton, Samworth, Rigby and others demonstrate what family businesses can achieve when they are able to fulfil their potential within the right policy environment. Of course, the businesses appearing on this list are far from alone. The collective economic weight of our sector is enormous. Across the country, millions of small and medium-sized family businesses play a vital role every day. They create jobs, sustain high streets, innovate within their sectors and provide stability through economic cycles. The most prominent names simply show what is possible
“These are not just taxpayers - they are strategic partners in growth”
Taken together, family businesses represent something policymakers cannot afford to ignore: long-term, UK-focused, generational enterprises that reinvest, build, employ and deliver consistently across the length and breadth of the country. These are not just taxpayers – they are strategic partners in growth. As we approach FBUK’s 25th anniversary, there is much to celebrate. But there is also a clear opportunity ahead. The UK has a tremendous pool of entrepreneurial and family business talent. With the right environment, encouragement and recognition, even more family businesses can grow, contribute and endure – just as this organisation has done for the past 25 years.
5
www.familybusinessuk.org
Titan Airways Titan Airways is an independent charter airline providing on-demand passenger and freight charter services. Formed in 1988 by the current Chairman and sole shareholder Gene Willson, the airline has grown from a two-person operation with a single Cessna aircraft into one of Europe’s leading charter airlines, employing nearly 400 staff operating a modern fleet of jet airliners from London Stansted Airport and London Gatwick Airport.
We are trusted by major airlines, governments, global brands, world-renowned sports clubs, the entertainment industry and leading logistics companies. Our reputation for quality of service has led to the award of some of the UK’s most high-profile aviation contracts. Over the course of the company’s 38-year history, there have been many highlights: welcoming on board, members of the British Royal Family, landing the largest ever passenger jet in Antarctica, operating the Coca-Cola Fifa World Cup Trophy Tours, and industry first world record-breaking concerts in the air.
Signature Flatbreads Signature Flatbreads is one of the UK’s leading family bakery businesses. Founded in 1984 by Dr Samir Eid the company pioneered the introduction of commercial naan breads and tortillas into British supermarkets in the 1980s. Today, growth and innovation continues, in the UK and overseas, championed by third-generation bakers William and Charles Eid, sons of Samir. The fourth generation is also now working in the business.
The company employs more than 2,000 people in its bakeries in the UK and in India supplying to customers in over 70 countries. An ambitious £100m investment programme was completed in time for 40th anniversary celebrations. Looking ahead, there are plans to invest a further £150m expanding the range and creating an additional 500 jobs. Bakery expertise is central to the business, but what drives it forwards are the family values and talented team of people who are passionate about creating quality breads that are central to everyday family meals.
6
FBUK Issue 6
Alan Boswell Group Rooted in East Anglia since 1982, Alan Boswell Group is one of the UK’s largest independent insurance brokers, serving over 70,000 clients from multiple regional offices. Founder Alan Boswell remains at the helm, guiding the business with the same integrity and vision that have defined its growth for over four decades. The second generation is now represented on the board, ensuring continuity and fresh perspective as the Group evolves.
Combining deep local knowledge with national reach, Alan Boswell Group offers tailored insurance and risk management solutions for businesses, landlords, and individuals. The company’s commitment to five-star service is recognised by Feefo and reflected in its recent awards, including “Insurance Broker of the Year” at the British Insurance Awards and “Large Business of the Year” at the EDP Business Awards. Alan Boswell Group continues to invest in technology and expertise, delivering trusted advice and innovative cover while maintaining family values at its core.
James Coles & Sons (Nurseries) Ltd
For more than 110 years, we have supplied clients including landscapers, garden designers, wholesale nurseries and local authorities for projects ranging from new housing developments and business parks, to show gardens, and everything in between. Our team of over 100 staff grow, care for and supply our trees and shrubs with a wealth of knowledge and experience. We are immensely proud that more than 50% of our staff have been with us for more than 10 years, many for over 20 years!
James Coles & Sons (Nurseries) Ltd is the UK’s largest grower of trees and shrubs for the commercial and amenity markets. Founded in 1913 by James Coles Snr, Coles Nurseries has grown to be a fifth-generation family business, spanning over 550 acres with capacity to grow 1.2 million trees and 2.4 million shrubs. Our current Managing Director James Coles has now been joined in the business by his two children, Isabelle and Edward.
7
www.familybusinessuk.org
FBUK Member news
£1 million charity milestones
A total of 1,683 people have been supported by household helpers, and 19,444 information and support enquiries have been handled online or over the phone. Another FBUK Member marking more than £1 million in donations is the charitable trust run by St Austell Brewery. Since its launch in 2003, the Trust has supported charities and individuals across the South West with projects ranging from youth mental health services and air ambulance operations, to essential care equipment for families and adaptive surf gear for charities. The Trust was boosted by St Austell Brewery’s Celtic Beer Festival in November which raised £18,000. The day-long festival transformed the brewery’s historic Victorian cellars into a vibrant venue, with five bars serving more than 100 beers from over 50 UK breweries, which had generously donated their beers. Georgina Young, Brewing Director at St Austell Brewery, said: “The 24th Celtic Beer Festival was a true celebration of beer and community spirit. Most importantly, every pint poured helped us raise a huge amount of money, which will make a meaningful difference for charities, individuals and organisations here in the South West.”
FBUK Member James Hall & Co Ltd, a fifth-generation family business based at Bowland View in Preston, has begun 2026 in style by celebrating a major charity milestone – raising £1 million for the end-of-life care charity, Marie Curie. James Hall & Co Ltd, SPAR UK’s primary store operator, wholesaler, and distributor for the North of England, has hit the £1 million mark in a partnership with Marie Curie spanning 10 years. Key initiatives include teams completing the Yorkshire 3 Peaks Challenge and a donation from every own-brand sandwich sold in SPAR stores across the North of England. Peter Dodding, Sales Director at James Hall & Co Ltd and Chairman of the SPAR Northern Guild of Retailers, said: “Raising £1 million is an incredible achievement. It is hugely important for the positive impact it has delivered in communities across the North of England. It is testament to years of committed fundraising shown by SPAR independent retailers, company-owned SPAR stores and the generosity of our SPAR customers.” The money raised by James Hall & Co. Ltd has meant 43,478 hours of care have been delivered by Marie Curie hospice and nursing teams.
Peter Doddington (front centre right) with members of SPAR Northern Guild and Lily Witham (front right) and Victoria Simkins (front left) from Marie Curie
St Austell Brewery’s Celtic Festival raised £18,000 in November
FBUK Issue 6 8
B Corp – A blueprint for legacy?
And the even better news: we’ve found that by prioritising purpose, B Corps outperform their peers. In the UK, B Corps grow at a faster rate, experiencing a 20% increase in turnover compared to 3% for ordinary SMEs. Their values-driven governance is also central to their survival: 93% of UK B Corps weathered the COVID-19 pandemic and remain active today, versus 84% of UK businesses overall. This resilience is being recognised by investors. Over the past decade, UK B Corps have received a median of £1.5m in growth funding, 18% more than the
For many family-owned businesses, this is a way to formalise and amplify the values they already live by. It’s been brilliant to see Haymarket join the B Corp community alongside other family-owned businesses like COOK, Johnstons of Elgin, Faith In Nature, Wholegrain Digital, Pieminister, and Marshfield Farm Ice Cream. Family ownership is one of many governance models and approaches adopted by B Corps; others include employee ownership and innovations like giving nature a seat on the board. 2026 will be a defining year for the B Corp movement as companies begin transitioning to the new B Lab Standards, marking a shift in how certification is assessed and verified. After several years of consultation, the standards establish minimum requirements across seven critical areas, spanning climate action, workers’ rights, circularity and collective action. This ensures a business can’t score highly in one area and not another, creating a mandate for holistic impact. Crucially, ongoing improvement is now mandatory. Companies must demonstrate measurable progress with new milestones after three and five years, ensuring leaders continue driving meaningful progress. Additionally, all certification decisions will be made by a third party. This increases impartiality and brings an additional layer of independence alongside ensuring that B Corp Certification meets welcome legislative changes in the sustainability claims landscape.
Chris Turner CEO of B Lab UK
national average, signalling confidence in their long-term potential and leadership.
Family-owned businesses have long played a vital role in our economy, distinguished not just by their products or services, but by the values, traditions, and long-term vision they pass from one generation to the next. Unlike many other companies, their focus extends beyond profit. They prioritise stewardship, community and legacy. It’s precisely these qualities that family-owned businesses and the B Corp movement share. B Corps are businesses that embed purpose into the way they operate. They do so by meeting B Lab’s rigorous standards and amending their Articles of Association, legally committing to considering the interests of all stakeholders – employees, customers, communities, suppliers, and the environment – not just shareholders. Commonly known as stakeholder governance, this responsibility ensures mission and values are safeguarded even as companies grow, bring on new investors, or transition leadership.
So, for family-owned businesses looking to the future, B Corp is more than a certification. It’s a blueprint for safeguarding legacy, strengthening stakeholder trust, and achieving enduring, sustainable growth.
To find out more about B Corp, scan the QR code:
9
www.familybusinessuk.org
Haymarket’s road to B Corp
Rupert Heseltine Chairman, Haymarket Media Group
and ISO 50001 for energy efficiency and carbon reduction.
As a family-owned business, Haymarket’s strategy has always been defined by a long-term view rather than short-term gains. We operate in the full knowledge that our decisions today impact the business for generations to come. It is this approach that led us to our recent achievement: becoming B Corp Certified globally. This is a significant milestone, but our commitment to sustainability, in all its guises, is not a recent pivot. It was this longstanding commitment to being a socially and environmentally responsible business that led us to B Corp in the first place. Much of the “good stuff” was already happening as part of our Haymarket Impact strategy. We‘ve won various accolades for our sustainability commitments, backed by a rigorous suite of international standards including ISO 20121 for sustainable event management, ISO 14001 for environmental management systems
“We knew we had the baseline to go for the ultimate gold standard – B Corp Certification.”
The road to certification was an almighty, near three-year effort that required a foundational look at every single aspect of our business. Operating on a global stage added a further layer of complexity. This wasn’t just about auditing our HQ in the UK. It involved analysing everything from our suppliers, partners and clients, to the intricate nuances of the eight regions around the world in which we operate. We had to find common approaches across our territories, recognising the very different regulatory landscapes at play. As part
FBUK Issue 6 10
of the process, we updated our legal Articles of Association, committing social and environmental responsibility into Haymarket’s DNA permanently. This achievement would have been impossible without the exceptional collaboration of our 1,200 colleagues – in particular, the brilliant core project team who made it happen. On a personal note for the family legacy, it is important that Haymarket in the future is not only commercially successful, but also a genuine force for good. Achieving B Corp status felt like an ultimate “walk the talk” moment. It is a verified testament that we balance profit with a purpose that benefits our people, our communities, and the planet.
Haymarket Media Group B Corp team, left to right: Celia MacMillan, People and Communications Director; Rupert Heseltine, Chairman; Tara Geoghegan, Head of Communications & Impact; Gary Charlton, Head of Procurement
“In a fragmented media landscape, B Corp status cuts through the noise.”
It provides our audiences, clients and partners with a guarantee of transparency. It aligns our international offices under a single, rigorous framework. We now stand alongside esteemed fellow family-owned B Corps including Berry Bros. & Rudd, Dishoom and The White Company. I am immensely proud of the high standards we set ourselves at Haymarket, and the global work to prove we meet them. B Corp is not just a marketing tick-box exercise, it is recertification every three years. Our values, commercial success, global impact, and commitment to shaping a better future are now permanently intertwined. a commitment to continuous improvement and mandatory
Haymarket Media Group UK team which supported the B Corp process, including Chairman Rupert Heseltine and Global Chief Executive Kevin Costello
11
www.familybusinessuk.org
We accelerate what’s possible so you can turn vision into value
FBUK Issue 6 12 FBUK 12
Award winning beers, iconic pubs and fabulous rooms from the heart of West Dorset
www.palmersbrewery.com
Recruiting AI in a business all about people
model, might never hear anything about their application.
But for family businesses that place enormous value on their “human touch”, AI presents something of a paradox: can an algorithm understand the nuance of a career or an individual as well as a person can? For John Parkinson, 3rd generation CEO of FBUK Member HRGO, the answer lies not in replacing the human touch, but in protecting it. “Recruitment is a fundamentally human business,” he says. Betty Four years ago, HRGO embarked on a knowledge transfer partnership with the University of Kent to apply AI and machine learning to improve the candidate experience of recruitment. One of the company’s platforms, Betty – named after Betty Parkinson who founded the company in her front room in 1957 – has now supported 200,000 job applicants to improve their CV and offer feedback. With unemployment stuck at a five-year high, and the number of vacancies falling, competition for roles is fierce. On average, every vacancy attracts around 50 applications. For graduates that almost triples to an average of 140 applicants per vacancy. That means a lot of disappointed job seekers , many of whom never get a response. HRGO alone receives around 1 million applications for the roles it recruits. But, it only places 36,000 candidates leaving more than 960,000 people who, in a traditional recruitment
It is these neglected areas of the recruitment process where HRGO’s AI, Betty, thrives. While human recruiters focus on placing candidates, Betty ensures the vast majority of unsuccessful applicants receive a positive experience through personalised feedback rather than total silence.
Martin Greig Family Business UK
“Betty never says no” says John Parkinson.
Chances are, all of us are using AI every day whether we know it or not – from applications on our smartphones to internet searches or chatbots. For businesses, AI offers the potential for efficiencies and cost savings. Some estimates suggest that up to third of routine or administrative tasks could be done more efficiently by AI. The likes of Elon Musk and Bill Gates have both suggested that rapid advances in AI and robotics will render employment voluntary and money irrelevant in as little as 10–20 years. And, while that may feel a little “sci-fi”, it is worth knowing that the UK Government has already started planning for how it provides a Universal Basic Income to support workers in industries likely to be most disrupted by AI. Opportunities of AI Much of the debate about AI is framed in this way – the negative impacts of replacing jobs. But, counterintuitively, one area where AI is adding real value is in recruitment.
This specific and restricted use of AI is where many companies are finding added value. David Angel, Managing Partner at executive search firm Redgrave, an FBUK Corporate Partner, agrees that agrees that it is about finding a balance. “While every Board agenda is likely to include a conversation about AI,” he says, “companies must ultimately show human-centred leadership that balances AI with empathy and integrity.” Square peg – round hole “The AI is never used for decision-making. It’s there to leave people a little bit better than we find them.”
But where might future advances in AI take recruitment?
The next generation of AI systems will be far more sophisticated than
FBUK Issue 6 14
But AI has its limitations. The technology is prone to “hallucinations” – recreating inaccuracies based on data that is wrong or false. For these reasons, HRGO deliberately restrains its use. “Just because you can doesn’t mean you should,” says John Parkinson. relationships. While AI is excellent for processing data or summarising feedback, it cannot replace the deep understanding required for high-value roles. “I don’t think there’s a substitute for a conversation,” says John, “particularly when assessing cultural fit or negotiating on behalf of a candidate.” The risk, he argues, lies in the disintermediation of personal This position is echoed by David Angel. “My overriding sense is that whilst the rapid advancement in AI will undoubtedly lead to major disruption, the ripples will be influenced much more by the actions and behaviours of people. “I remain convinced of one thing” says David, So, perhaps for family businesses that place so much value in their human touch, the use of AI in recruitment isn’t about choosing between high-tech and high-touch – it’s about using one to save the other? “the future of leadership is, and will remain, profoundly human.”
administrative assistants. Known as “agentic AI” these systems, which are already starting to appear, will have the capacity to “think,” “learn” and “reason.” These will feel more like a “partner” at work. For recruiters, these systems offer the prospect of using AI in far more complex areas, tackling things like transferable skills. The work HRGO has done with the University of Kent into semantic search is already half-way there. Unlike traditional keyword searches that might miss a great candidate because they lack a specific buzzword, semantic search understands context. “Teachers and project managers have more in common than you might think.” “A teacher comes up with a lesson plan, they deal with colleagues, parents, and students. There’s a bit of an overlap. AI can help us spot these square pegs for round holes, widening the talent pool for clients in a tight market,” says John Parkinson. The limits of AI Other companies are going much further. There are examples of candidates taking part in video interviews and being grilled by an AI chatbot. Others are using AI to turn recruitment into a proactive, not reactive process – identifying high- potential candidates before they ever apply.
Betty Parkinson Founder, HRGO
John Parkinson 3rd generation CEO, HRGO
www.familybusinessuk.org 15
FBUK Corporate Partners are critical allies of our work, giving FBUK Members direct access to subject matter expertise and bespoke advisory across a range of professional services. We’re proud to have the following industry-leading companies form part of our Corporate Partner network:
Gold Partners
NatWest – a leading UK bank and provider of retail and commercial banking, growth capital and advice on equity investment and support on finding new markets
JP Morgan Private Bank – J.P. Morgan Private Bank supports families and entrepreneurs across the UK, with a strong presence in Manchester, Edinburgh, Glasgow, London and Bournemouth. We offer tailored financial advice and comprehensive wealth management services to clients and their families including planning, investing, lending, banking, philanthropy, family office management, fiduciary services and more
Silver Partners
Julius Bär – for more than 130 years, we at Julius Baer have managed our clients’ wealth and served them as trusted, truly personal and holistic advisors. With our roots as a family business, we know the value of long-term relationships
PwC – the UK arm of the firm with more than 160 years of experience and 5,000 people serving family businesses with advice on topics including business growth, governance, succession planning and wealth management
S&W – a leading accountancy and advisory business that serves the mid-market. S&W is one of the UK’s fastest growing accountancy firms with around 1,800 employees and more than 120 partners operating from 15 towns and cities in the UK and Republic of Ireland
Bronze Partners
Boodle Hatfield – a law firm which has partnered with individuals, families, property owners and businesses for 300 years, providing advice on property, business and private wealth issues
Boyden – a premier global leadership and talent advisory firm that can serve client needs anywhere it conducts business
Clarion Solicitors – a Leeds-based law firm offering family businesses a range of services from finance and dispute resolution to data, family and private wealth advice
FBUK Issue 6 16
Freeths – a firm of 13 offices nationwide, bringing energy and innovative thinking to help clients achieve their goals. We understand the unique needs and complexities of family businesses, working closely with owners and their team of advisers to build lasting relationships and deliver seamless, tailored solutions
Deloitte Private – connects leaders of privately held businesses, family enterprises and emerging growth companies with ideas, knowledge and experience
Farrer & Co – a specialist family business whose lawyers take pride in protecting, supporting and nurturing the clients it represents. Farrer & Co has been working with business families for generations
Hymans Robertson Personal Wealth – we’re an independent partnership helping to build better financial futures for millions of people across the UK. With over a century of history, we provide services to organisations and individuals across pensions, investments and insurance
KPMG – to support the unique needs of family businesses, KPMG Enterprise manages a global network dedicated to offering relevant information and advice to family-owned businesses
LGT – a UK-based wealth management firm that is part of LGT, the world’s largest private bank and asset manager owned by a single family, the Princely House of Liechtenstein, for over 80 years
Lockton – the world’s largest privately owned insurance broker and risk advisory firm whose personal approach delivers boundary-pushing solutions for individuals, families and businesses all over the world
Redgrave – a leading executive search firm offering search and interim support, board-level recruitment, talent assessment and development, transition planning and advisory
Saxton Bampfylde – the UK’s first employee-owned search firm that understands the nuances and importance of ownership regarding talent, leadership and transitioning between generations
Western Pension Solutions – a specialist pensions consultancy owned by the Vestey family, providing strategic advice to family businesses on how to manage their legacy-defined benefit pension schemes
For more information about our Corporate Partners, or to contact us about becoming a Partner, scan the QR code.
www.familybusinessuk.org 17
The truth about lobbying and why your voice matters
The myth of lobbying There is a popular misconception that lobbying is all about access and that a single conversation with the right person will make it all happen. Real lobbying is about credibility. It’s about showing up repeatedly, with evidence, consistency, professionalism, and slowly earning trust. It’s about understanding how government actually works, how policy is formed and where the real pressure points are. When I started with FBUK, policymakers treated family businesses as a footnote. We were a novelty – lumped in with SMEs one minute and large corporates the next. We were listened to politely but not always heard and rarely understood. That is changing. Not because we’ve shouted louder, but because we’ve done the hard yards, the unglamorous work of building engagement and reputation over time. The long game Our work on IHT and BPR is a case in point. I have put this on the agenda of every government since joining FBUK in 2013. Our engagement with what is now the Treasury team began while they were still in opposition, explaining how the relief works and why it matters to family businesses. When they entered office, the new government inherited an extremely challenging economic situation and BPR (along with other policies) inevitably got caught up in the process of trying to balance the books.
The fact that BPR was not completely abolished was a win in itself – a decision that was likely influenced by our early conversations with MPs and Treasury officials. They had accepted the argument that some form of relief is needed for family businesses. Where we disagreed – and still do – is on how that relief should operate and the impact of the changes they proposed. Since then, we’ve remained deeply engaged on the technical, nitty-gritty aspects of the policy. This isn’t the sort of work that grabs headlines. But it matters – enormously. Throughout the process, the door has remained open to us because we are seen as serious, evidence-led and constructive. We vehemently disagree with decisions that have been made, but we have continued to make the case for change, even when the answer has been “no”. The concessions we have helped to secure are certainly not everything we would have wanted, but nor are they insignificant. What they are is evidence that we and the sector have been listened to, and that didn’t happen by chance. Where Members make the difference Our strength and influence does not come from a building, a brand or a small team in an office. It comes from the collective weight of FBUK’s Members – and from the willingness of those Members to share their experiences. This is a critical piece of the puzzle which often gets overlooked.
Fiona Graham COO Family Business UK
I am often asked: what does lobbying actually involve? The answer is: less drama than you’d think and a lot more persistence. The work that really matters happens quietly, behind the scenes, long before MPs turn up for a photo opportunity or announce a shiny new policy. For more than a decade, I have been responsible for advocacy at FBUK, representing family businesses with policymakers and lobbying for a supportive policy landscape. In that time, I’ve witnessed an enormous shift in how our sector is perceived (although the job of educating policymakers is never done) and the impact we can have when we act together. That’s particularly true of our recent work on Inheritance Tax and Business Property Relief. There’s no getting away from the fact that the policy changes are bad. But the truth is, they could have been much worse. And that’s no accident.
FBUK Issue 6 18
FBUK CEO, Neil Davy, visits No.10
FBUK Policy Director Matthew Jaffa visits officials at HM Treasury
FBUK CEO Neil Davy, joins Tina McKenzie MBE from the FSB and other business leaders at an event with the Prime Minister to switch on Downing Street’s Christmas lights.
Your membership matters
But it is critical we reinforce this in today’s fast-moving and fiscally constrained policy environment. So, the more family business voices they hear, the better. FBUK is not a non-partisan organisation. Our advocacy work is about policy not politics, so getting involved is no more complicated than being willing to speak up, sharing your perspective, supporting campaigns and helping put forward a clear and credible argument. The more Members are prepared to do that, the stronger and more influential our collective voice becomes – and the less chance there will be of government legislating against us.
Policymakers don’t just want to hear about theory. They want to hear from businesses to understand how decisions land on the ground. What happens to investment plans. What happens to succession. What happens to jobs, governance and long-term thinking. That insight can only come from you. Over the years, the input from FBUK Members has strengthened our hand, whether through case studies, private briefings, roundtables or one-to-one conversations. Much of our most effective advocacy hasn’t involved speeches or headlines but thoughtful, honest exchanges between family business leaders and policymakers. You don’t need to be an expert to contribute. In fact, that’s often the least important thing. What matters is being willing to explain how policy decisions affect your business and your family.
So, when Members ask me “what do we get for our membership?”, advocacy is a big part of the answer, even when the outcomes are incremental, partial or behind the scenes. Advocacy is not a one-off campaign. It’s a long game and, like any long game, it has to be properly resourced to keep building momentum. So, your continued support and investment really matters. The opportunity ahead After more than a decade of FBUK advocating on behalf of the sector, family businesses are now better understood across government. Our contribution to the economy, communities and long-term growth is more widely recognised.
www.familybusinessuk.org 19
New rules on IHT Why family businesses must act now
agreements will also be important to ensure that business interests are capable of being passed to a spouse in your Will - not always a given. 2. Record your wishes Taking time to consider the impact of your wishes, but also recording them in a way which comes across as authentic and realistic, is time very well spent. We are seeing an increasingly imaginative approach to ensuring all stakeholders know the wishes of the family business owners, including letters of wishes being recorded as videos, statements of family values ranging from a single page to many chapters, and the use of far more vernacular language reflecting the voice of the author rather than their legal advisers. Remember that wishes can change over time so should be updated regularly – we recommend every five years. 3. Understand mental incapacity The loss of mental capacity to make a business decision can cause real and sometimes lasting impact to the future of your family business (and other assets outside of the business). Since 2007, a modern system of Lasting Powers of Attorney gives you the opportunity to choose who can manage affairs if you are unable to do so yourself. Familiarise yourself with how these documents work, discuss them with your legal advisers, your family and also your business board.
As we approach the end of the tax year, many family business owners and their boards are considering how the changes to Business Property Relief (BPR) and Agricultural Property Relief (APR) from Inheritance Tax (IHT) will affect them. A new IHT charge on trading assets passing to heirs when a shareholder dies will apply for the first time in 30 years. The charge will also apply to trusts every 10 years (with some exceptions relating to trusts for spouses and vulnerable people) and gifts made within 7 years of the death of a shareholder. The areas we highlight here focus on the key tax and other related steps all family business owners should be considering. They are not limited to just businesses qualifying for BPR but to all owners, including those with property and other investment businesses. Careful planning is needed. And steps should be taken now. 1. Make a Will or review your existing Will Putting a Will in place or reviewing your existing Will is essential. Given the transferability of the new £2.5m BPR allowance (with spouses able to share their individual allowances), married couples and civil partners can leave £5 million of eligible assets in addition to using any other allowances
Bryony Cove Farrer & Co LLP
such as the Nil Rate Band and Transferable Nil Rate Band, if structured correctly.
Reviewing shareholder agreements, articles of association and partnership
FBUK Issue 6 20
You should consider employing a facilitator to help you frame the discussions – this could be a trusted existing adviser or someone completely new. In either event, being open about the possibilities tends to stand families and their boards in good stead. 6. Think about your pension As the prospect of the new IHT charge looms, many of you will also be concerned about your pension funds. Along with your homes, these are likely to be one of the more significant non-business assets available to pass on to your family. From 6 April 2027 these will be liable to IHT. Keep in touch with your financial advisers as details become clearer - likely in the second half of 2026. Being better informed about how the overall picture will look is the first and most important step to carrying out succession planning across the whole of your estate. This is only a brief overview of key points to be thinking about both now and beyond the changes coming in April this year. As always, do take professional advice before undertaking planning but, above all, keep your lines of communication open both among the family and across the business.
Don’t forget that an LPA cannot manage the loss of capacity of a
director of a company. Review your articles or shareholders agreement to see what happens if one of your directors loses capacity, which could just as easily be due to an unforeseen incident as a degenerative age-related condition. Planning for this scenario is a critical part of your business continuity. 4. Talk to the business In the months since the October 2024 Budget we have seen an increase in boards of family businesses asking what the tax changes mean for the directors or other senior stakeholders. Succession to the business ownership is inextricably connected to those conversations. From the need to fund a new IHT charge via a special dividend to the terms of a new family trust or Will, the inclusion of spouses as potential shareholders or beneficiaries of trusts or the need for better communication with shareholders, these conversations are critically important to the future of the businesses. This does not mean “washing the family laundry” in public, but with thought and a sensible degree of openness can be hugely beneficial. 5. Take regular advice If your family wishes to change direction and perhaps accelerate succession or even change the business ownership structure, then talking to your board or senior management at the right time is important.
Sonal Shah Farrer & Co LLP
www.familybusinessuk.org 21
FBUK across the UK Advocacy
There is no doubt that policy matters to family businesses. In a study to inform our latest policy platform, more than 40% of family business owners said a greater understanding of the unique model of family ownership would be key to unlocking better support from government – while one in five said policy uncertainty was their main barrier to growth. Since the start of the year, FBUK and our Members have held meetings in the Senedd and the Scottish Parliament – alongside regular engagements in Westminster. Members discussed some of the key challenges they face on inheritance tax, investment, business rates and skills. We plan to continue these regional and devolved visits throughout 2026. During our meetings, one thing has been abundantly clear: politicians want to hear directly from family business owners. We will always FBUK – coming to a town near you Ahead of our Annual Conference in June, FBUK CEO, Neil Davy, and COO, Fiona Graham, will be hitting the road, travelling across the UK to meet with FBUK Members. Whether you want an update on our discussions with government, our policy priorities, plans for the remainder of the year, or ideas and suggestions on how FBUK can better support you and your family and busi- ness, please take the opportunity to come and meet them. It’ll also be
champion our Members in the corridors of power. But the most influential voice is yours – the voice of real family business experience. If you want to better understand the process of policymaking and have a hand influencing policies that directly affect you. Contact me directly at matthew.jaffa@familybusinessuk.org Why not register to attend our Policy Summit at the end of March. Full details on the QR code below
Matthew Jaffa Policy Director FBUK
a great opportunity to connect with other family businesses in your area. You can see full details of all the events, including times and locations, by scanning the QR code.
FBUK Issue 6 22
FBUK Communities Where families connect
“I’m not alone.” It is a common refrain from businesses and families joining FBUK – words that come from the knowledge that the unique challenges faced by members of family businesses, and the isolation of leadership, are not always so unique. FBUK’s Communities are frequently the place where our Members first share their lived experiences and find Communities are not just an added benefit of your membership, they are a defining feature – and frequently seen as one of the most valuable. What makes them so powerful is the safe space they offer Members to engage with others who have faced – or are facing – the same or similar challenges. The result is conversation that is candid, practical and grounded in real-world experience rather than theory. ideas and solutions through conversations with others.
“There is this bias that working for your mum or dad is ‘easy’ and that everything is laid out in front of you. It’s a very difficult circumstance to explain to someone else.” FBUK Communities bring together those at a similar stage in their journey such as our Next Gen and Now Gen groups; those with a shared position including our Family Council, Non-Family Executive and Chair Communities; and those with a common interest like our Policy Community. As we move further into 2026, we are planning to grow our Communities with announcements about new specialist groups, to follow. We also have a rich calendar of Community events planned across the UK for 2026 – 14 so far, offering Members a mixture of roundtables, dinners and curated discussions. Make sure you don’t miss any by visiting the FBUK Events page or join the relevant Community WhatsApp group for updates and invitations. If you are not yet a Member of our Communities and would like to explore which one may be right for you why not drop me a message? caspar.moran@familybusinessuk.org.
Casper Moran Communities Manager FBUK
We currently have six active Communities: Chairs Next Gen Now Gen Family Council
Non-Family Executives Policy
Isabelle Coles is 5th generation at new FBUK Member James Coles & Sons (Nurseries) Ltd. “Being in a space with like-minded people of a similar age to me, is a very refreshing experience, as it’s not something you get to do that often.
www.familybusinessuk.org 23
FBUK 25th anniversary
Grant Gordon echoes these sentiments, adding that the formation of the IFB was ultimately driven by “enlightened self-interest.” So, a group of like-minded family business owners set out to replicate Alex’s lightbulb moment. Dinosaurs and working capital One year later, having been introduced by Professor Alden Lank, Grant and Alex decided to bid for, and were successful in hosting, the global FBN conference in London, rallying support from 19 founding families who underwrote the costs. At the conference gala dinner, held at the Natural History Museum, Grant remembers a particular speech delivered beneath “Dippy the Diplodocus,” the museum’s most famous skeleton. “The speaker remarked that having the Diplodocus hanging above us was appropriate,” says Grant. “We needed to think about the long term to ensure family businesses didn’t go the way of the dinosaurs.” The event was a resounding success, not only in terms of the numbers attending but financially. The surplus profits it generated served as working capital to launch the Institute for Family Business.
Things were very different in 2001. The average UK house cost around £90,000 and gold cost just $250 an ounce. Major social media platforms didn’t exist, the first iPhone was still six years away and 9/11 changed the world forever. The landscape for Britain’s family businesses also looked remarkably different. While family firms have always been the backbone of the economy, the families behind them have often operated in silos, navigating the unique complexities of ownership, succession and governance in relative isolation. The “lightbulb moment” That changed following a very personal experience of Alex Scott, shortly after joining his own family business in the mid-1990s. He attended a global family business event in Lausanne, Switzerland, an experience he describes as “transformative”. “I sat in the audience and felt a weight lifting off my shoulders,” he recalls. “I was surrounded by people from completely different sectors, yet they were all dealing with the same stuff: multi-generational ownership, governance, and family dynamics. It was reassuring, educational and comforting.”
Martin Greig Family Business UK
In 2026, FBUK turns 25. Founded in 2001 as the Institute for Family Business (IFB), the organisation has grown from a fledgling initiative into the definitive voice for the sector. For this special anniversary article, we speak to the two people who started it all: Co-founders and Life Presidents, Alex Scott and Grant Gordon, about the organisation’s genesis, its evolution into a policy powerhouse, and the enduring value of peer-to- peer learning.
FBUK Issue 6 24
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32Made with FlippingBook - professional solution for displaying marketing and sales documents online