1698 - A tale of two halves – Part II Last year, two of the biggest brand names in the UK family business sector celebrated being families in business for over 325 years. In this concluding instalment of their story so far, we delve deeper into the vaults of Berry Bros & Rudd, and Shepherd Neame.
Lizzy Rudd Chair, Berry Bros & Rudd
Photo: Elena Heatherwick
Company year of founding: 1698
Location: London
Turnover: £250m
Number of staff: 400
Generation of interviewee: 10th
Edward, Ned and Alicia
Photo: Joakim Blockstrom
If there was one thing you could change about your business, what would it be? Technology is a double-edged sword. We made some big decisions putting in new IT systems and found that it’s tied our hands sometimes. If money were no object, what I’d like to change is to have the IT to do whatever we want it to – to enable us to be agile and entrepreneurial. But that’s quite a challenge! With the benefit of hindsight, what advice would you have given yourself when starting out in your career in the family business? What, if anything, would you have done differently? I was always interested in the business, but we didn’t do next generation development when I was younger. So, I wish I’d had a more formal mentor, because that would have made all the difference to me. My advice to others starting out in the family business is to ask for help. I know that for young people this is difficult; they may not know who to go to. But my advice is: Don’t just carry on. Ask for help before you make big decisions.
What is the most challenging aspect about being the custodian of a family business… especially one that’s more than 325 years old? We’re a relationship business, and we value having family members in that business. Our customers really value that too, and many of our suppliers are also family businesses. For that family involvement to work well, we’ve got to work hard at maintaining family unity, so we’re all aligned with the values and long-term vision. There is a lot of communication required to develop the relationships among the family members, a lot of them being distant cousins, so that everyone knows each other. We also need to support them in developing their own talents and careers. It’s fun, but it can be quite a challenge! What are you most proud of about your family business? Growing up with a family business around you, you don’t appreciate how amazing it is. Even when I took over as Chair seven years ago, I often heard people say “you don’t realise how special it is”… and I didn’t then! In the last five to seven years, we’ve really
moved the business forward. The most critical and challenging change was introducing new technology – digitally enabling the business. It’s been a massive investment, and you do wonder whether you’ll ever see the returns; but there’s no choice. And it will continue: Investment has to be constant and consistent every year. Was it always assumed you’d work in the business? I joined the business rather by accident in my early 20s. I was never intended to join the business because I was a girl! I worked for 10 years in our brand business but left to focus on my young family. Several years after that I joined the board as a non-exec, so I always had an involvement, always maintained an interest in the business, but largely at a distance until I joined as Chair. Male orientation was so normal in those days, despite the fact that my grandmother chaired the business for 16 years after the war – “because nobody else was there to do it” according to my father. Which rather reflects the attitude of the time.
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