Family Business Scale-ups: Breaking Barriers to Growth
The challenges to growing and scaling family businesses
Figure 29 : Access to international talent
As with their peers across the wider scale-up ecosystem, mid-market and scaling family businesses place significant focus on building and developing the capacity and capability of their leadership team. Six in ten already have a formalised governance structure, with three in ten planning to establish one. However, many of these businesses are reporting key skills gaps among their senior leadership teams and boards, ranging from sales and business development (41%) to strategy development (35%), HR and culture management (34%) to innovation and product development (31%), and from brand and marketing (30%) to finance and fundraising (29%). To fill these leadership gaps, eight in ten are focused on developing the skills of their existing senior team. However, it is notable that they are also seeking to bring in skills from outside the business and the family: seven in ten are aiming to recruit leaders with prior experience of growing another business, and six in ten are looking to bring in fractional executives or to access non-executive directors.
They want to see the following in visa access:
Employ staff in the UK form Overseas
51%
41% 41% 35% 34% 34%
Faster processing / approval time
Reduced costs to apply easier to understand
Have employees based overseas
36%
Fast-tracking of family/ dependents as well
Coverage of a wider range of roles
Say it is difficult to employ talent from overseas
30%
Visa salary thresholds should be lower
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