Contents
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Welcome from CEO
Principles of Good Governance in family businesses
FBUK Advocacy
Party Conference Updates
Sir James Wates, CBE Chairman, Family Business UK
Forward thinking legislation
FBUK Masterclasses
10 12 13 14 15 16 18
Workplace pensions
Good governance is an essential part of good business, and it’s something that every business needs to think about. We often focus on family governance, which of course is essential in ensuring there is clarity and effectiveness in how shareholders align family interests and direct their enterprises. Family councils, for example, can be effective mechanisms for agreeing shareholder goals and communicating with the business. But corporate governance – how we are structuring and steering our businesses – is the other side of the coin. It’s the nuts and bolts of how the board is structured and the mechanisms for ensuring purpose and strategy are integrated throughout the enterprise. It’s the side of governance that our workforce, business partners, and other stakeholders see. Good governance, and transparent communication about it, is vital for building trust. That was part of the reasoning behind developing the Wates Corporate Governance Principles six years ago. With guidance from the Financial Reporting Council and participation of a Coalition Group that included Family Business UK, we developed a set of principles that businesses can use to review and report on how they’re governing their businesses. As Chairman of the Coalition Group, I’m proud of what we produced. Research published earlier this year by the FRC shows that the Wates Principles are the most popular code for the large private companies that are required by law to report against a corporate governance code in their annual Directors Reports.
Responsibility in a family business
An insider’s view on the Budget
£29bn, the cost of scrapping BPR
What the Chancellor should say next year
New FBUK Members
FBUK Members in the news 20 Family Business and B Corp 21 FBUK Corporate Partners 22 1698 - A tale of two halves – Part II 24 FBUK Annual Conference 26 FBUK Communities 29 The Matterhorn Moment 30 NextGens go for ‘solvitur ambulando’
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