The Family Business UK Magazine. Featuring an interview with Sir John Timpson CBE, inheritance tax insights from Europe and Sweden and a look ahead to the Autumn Budget 2025.
FBUK The Family Business UK Magazine
The Journey Ahead BPR & APR planning Views from the front benches Growing with the family business FBUK Member news
Edition 3 - June 2025
Everything starts with a vision
I am delighted to write today in my new role as Chair of Family Business UK. I assume this responsibility during a period of enormous uncertainty, change, growth and renewal for family businesses across the country - including my own family business, Rigby Group. This year our business celebrates its 50th year. As one of the UK’s largest private businesses and a global 500 family business, supporting the success of others in the sector is very close to my own heart. what I do and I approach FBUK as I would when working with any business. Everything starts with a vision, a North Star, building around a great team with clear objectives. Building companies that flourish is The conditions for building and growing a family business, such as my own, have become more difficult in recent times. The changes to Business Property Relief (BPR) announced in last October’s budget, present us with a clear challenge. The government has miscalculated the importance of BPR, opting to impose a tax which will raise inconsequential revenues but will result in long-term damage to our sector, the economy and regional communities across the UK. Whilst recognising that in order to represent you with government, FBUK must do more than campaign on this one issue, BPR will remain front and centre of our agenda. We have one more budget to effect a change to this damaging policy and influence a review before it comes into force. Encouragingly, our cause will be supported in this endeavour by both the Conservative Party and the Liberal Democrats who have stated they would reverse this policy when there is next a change in government.
The North Star of FBUK is to become the leading voice for private and family business in the UK. In recognition of the significant contribution of our sector, our voice should carry the same weight in Government as other leading business groups including the CBI, the British Chamber of Commerce and the Federation of Small Businesses. We have made great strides in the past year increasing our government engagement and building key relationships with policy makers and we intend to continue to build on this in the years ahead. To help us to become a more powerful voice for your business we have strengthened the Board with some heavyweight appointments. These include Lord Iain McNicol, formerly General Secretary of the Labour Party, Alison Philips, former Daily Mirror editor, and a new chair for our tax committee Chris Romans, former Partner at EY. We also welcome Rupert Heseltine from Haymarket Group and Sarah Naghshineh from RCP Parking to the Board. Charlie Field, a long-standing member of the Board, will become Deputy Chair. I would like to place on record my sincere thanks to the previous Board and its retiring members led by Sir James Wates for their support, commitment and achievements for the sector. They will remain friends and ambassadors for FBUK. Internally, the FBUK team, led by our CEO Neil Davy, is being strengthened with a new policy team, a new public affairs consultancy and new roles across the team to bolster our communications and engagement with key
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Contents
2 4 5 6 8 11
Welcome from FBUK Chair
Welcome from FBUK CEO
FBUK – Our people
FBUK Corporate Partners
View from Westminster
Advocacy update
stakeholders and members to further raise our profile, reach and influence.
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FBUK communities 14 Leading with purpose 16 New FBUK Members 18 FBUK Members in the news 19 Parallels in perseverance 20 Taxing futures
To support such investment we are looking to grow our membership and recruit new Patron Members from some of the largest businesses in the UK. We will introduce new tiered Corporate Partnerships. Recruiting Trade Association members will help amplify our reach while a new membership team will help drive direct family membership above 500 members. To achieve all this, much work lies ahead of us. We are extremely grateful to our supporters, Members and partners for their contribution to the family business sector. Together, we are on the road to an exciting future, positioning FBUK as the most visible and influential organisation representing our incredible sector. I look forward to our journey together and ensuring that private and family businesses remain the bedrock of the UK economy.
22 Planning for changes to BPR 24 FBUK Member Anniversary 26 UK’s best managed companies 2025 28 The kitchen table campaigner 30 Growing with the family business 31 FBUK events
Steve Rigby Chairman, Family Business UK CO-CEO Rigby Group
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Welcome from FBUK CEO
Just over three years since joining FBUK (as the IFB, as it was then), there have been a lot of developments within our organisation. There have also been considerable changes to the operating environment that family businesses have needed to navigate through. In the first year of our new Government, we’ve seen material changes to policy affecting our Members. Capping Business Property Relief inevitably sits top of the list, but for all businesses costs are rising, and the implications of the Employments Rights Bill presents a suite of new challenges, which for many represent hinderances to growth, rather than incentives. If nothing else, family businesses exemplify resilience and long- termism. It can be easy to lose sight of that faced with immediate obstacles to growth, but many have been here before and survived to tell the tale. This third edition of our FBUK magazine – which now moves to become a quarterly publication – comes at a time when FBUK marks the beginning of another chapter in our own story. At our AGM in April, Sir James Wates CBE stepped down as FBUK Chairman after four years. Sir James appointed me as CEO as part of his vision for our organisation to move from being a pure membership-based body, to a movement of family businesses wanting to build for the future. Sir James has now passed the mantel over to Steve, whose energy and interventions are already helping us to capitalise on the unique opportunities to be the leading force and voice for private firms and family businesses in the UK. Our unprecedented growth in businesses coming onboard, a growing cohort of Corporate Partners representing the leading advisory firms to the sector, and our growing
alliance of trade bodies has helped create momentum behind our movement. But as Steve has said, we have much to do. Despite the obvious headwinds, it’s the opportunities we have created, the growth of our Membership, our deepening relationships with Government, and our growing visibility and presence in the media that will take FBUK into a new and exciting chapter in our history. I want to thank Sir James and all Board members who have supported myself and the team over the past few years to get us to where we are today. And I want to welcome our new Board who I know will be instrumental in building our future. At my first Conference as CEO in 2022, I said that in any movement, people play different roles and wear different hats. I’m looking forward to working with our new Board, our Partners, trade bodies and our Members as we each play a part in helping build Britian for generations to come.
Neil Davy CEO, Family Business UK
FBUK - Board of Directors
Steve Rigby Chairman Rigby Group PLC
Charlie Field Deputy Chairman CPJ Field & Co Ltd
Neil Davy Chief Executive Officer - FBUK
Rupert Heseltine Haymarket Group Sarah Naghshineh RCP Parking FBUK - Board Advisors
Alison Phillips Journalist, editor and commentator Lord Iain McNicol of West Kilbride FBUK - Sub Commitee Chairs
Chris Romans Former EY Partner, Tax Committee
Lord Iain McNicol of West Kilbride Policy Committee
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FBUK Corporate Partners
Family Business UK has established Corporate Partnerships with carefully selected and highly respected organisations providing professional services to family businesses. They are critical allies and supporters of FBUK’s work with family businesses to ensure generations to come inherit a more prosperous, inclusive and sustainable future.
Our Corporate Partners include:
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 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 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 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 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
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 they conduct 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 Deloitte Private – a firm that brings the breadth and depth of the firm’s services to entrepreneurs, families, businesses and their private shareholders Farrer & Co – a specialist family business whose lawyers take pride in protecting, supporting and nurturing the clients they represent. Farrer & Co have been working with business families for generations 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
If you are interested in becoming a FBUK Corporate Partner, please get in touch: info@familybusinessuk.org
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Soreen welcomes the FBUK conference to their home town of Manchester, where we've been proudly baking loaves for 87 years.
View from Westminster
Gareth Thomas Minister for Services, Small Business and Exports
Family businesses are the backbone of our economy and our communities. Built over generations, and run with the next generation in mind, the 5 million family businesses in the UK are the bedrock upon which the Government aspires to kick-start economic growth. Planning for the long-term, investing into local communities with purpose, and determined to create a more prosperous and sustainable future – the approach of family businesses closely mirrors the Government’s own commitment to building a modern economy, fit for the future. That’s why, as a government, we are committed to hardwiring your voice into everything we do. For too long, family businesses – many of whom are small businesses – have been held back by all-too- familiar challenges: raising funding from start-up to scale-up, dealing with anti-social behaviour on the high street, overcoming trade barriers, spending time complying with new regulation, and more. Your voice on these issues is being heard, loud and clear, as we develop our Small Business Strategy. This is a strategy developed in partnership with business, and we are pleased to have worked closely with Family Business UK and many of its members in bringing the best ideas together to ensure action is as effective as possible for all SMEs. Through the strategy, due to be published later this
year, we will give businesses like yours the tools, resources and backing you need to grow and thrive. Aligning this with the UK’s Modern Industrial Strategy and our Trade Strategy will further ensure family businesses can tap into real growth opportunities. But we also know that businesses value swift, concrete action and, throughout this first year in government, we have taken important and immediate steps to help family businesses. We are breaking down barriers to finance. In the Budget, more than £1 billion was announced for the British Business Bank over the next two years, with more funding for start-up loans and a growth guarantee scheme. All squarely aimed at helping entrepreneurs to take ideas from design to development. And our recent call for evidence, which focused on the critical importance of small business access to finance, has given businesses the chance to tell us exactly what would make the greatest difference to you. To revitalise our high streets, we are tackling anti-social behaviour and retail crime head on through the Crime and Policing Bill, introducing a new standalone offence of assaulting a retail worker. We are working with the banking industry to roll out banking hubs and empowering communities to make the most of vacant properties through high street rental auctions. There are meaningful steps to breathe new life into high streets that we have already delivered. But we want to go further. On trade, we know it is businesses who export that grow the quickest – up to twice the rate of those who don’t. We are making sure there’s the best practical support in place to enable you to access exciting markets around the world, whether your family business is one of our smallest start-ups, an SME or one of the UK’s biggest firms. From
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specialist support by the UK Export Academy – which helped more than 11,000 businesses sell internationally last financial year alone – to a new Export Support Directory, a digital platform that connects British businesses with vetted commercial suppliers; to help with tax advice, legal expertise, market research, and more. We also believe in the importance of championing the UK’s small businesses and our Board of Trade has been revamped as a formidable group of advocates and ambassadors to champion UK businesses, especially SMEs, to trade more and grow. We know that, in today’s business landscape, it can often feel like a lot is stacked against family businesses. So, through cracking down on late payments, including with a new Fair Payment Code, through redrawing government procurement processes to give small businesses opportunities to win valuable public sector contracts, and through streamlining government support through a new
Business Growth Service, we are determined to do more to support family firms. Finally, by freezing the small business multiplier to protect 90% of properties from inflationary increases in business rate liabilities, permanently lowering business rates for retail, hospitality and leisure properties from 2026/27, and increasing the Employment Allowance from £5,000 to £10,500, and removing the £100,000 threshold, we are looking to ease the financial pressures you face. All together, we are making sure the support you need is there, when you need it. Just like family businesses are there to support and serve your local communities, we are determined to be there to support and serve you. Through these changes, we are paving the way for further regeneration and growth, and I look forward to working with you all on the path ahead.
Andrew Griffith Shadow Secretary of State for Business and Trade
Family businesses, and the millions of people they employ across the UK, are key to driving the growth to which this Government professes to aspire. They are the backbone of the economy. It is in the country’s interests to support them. So as Shadow Secretary of State for Business, I ask why are the Government dogmatically pursuing policies which seem laser-focused on doing the exact opposite of fostering prosperity? Anyone who has any grasp of how business works would realise the Government’s changes to Business Property Relief, NI contributions and the Employment Rights Bill are politically motivated changes that will render British businesses uncompetitive with foreign ones. These changes especially provide business owners with a good incentive to wind down. But Ministers do not seem to know or care about the knock-on effects of their policies. After 25 years in business, which included helping grow businesses that employed tens of thousands of people, I know what many in Westminster don’t: it is business that
creates growth, jobs and opportunity; it is entrepreneurs who create wealth and prosperity; and it is those who take risks who reap the rewards.
At present, the Government is reaping the whirlwind it has sown by attacking these groups – but it is all of us who will suffer. The better news is that, in my view, we Conservatives can fix this. We know how to, and in Kemi Badenoch we have a leader with business experience who completely understands the need. My own mentor and the inspiration for me to go into politics after a decades-long career in business, Lord Young, understood this and is most famous for his time as Secretary of State for Enterprise.
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Margaret Thatcher’s majorities were built with the support of an army of small business owners and the
wealth-creating risk-takers. The difference is that this time our plans must be credible, fully prepared in advance and ready to implement on day one of our next term in office. As a lifelong Conservative, I have been immensely frustrated that past leaders have talked about cutting red tape when running for office only to preside over governments that added to regulatory burdens: “talking Right but governing Left”, as Kemi puts it so well. Government is the ultimate scale opportunity in that it touches more lives than any individual business does – so I will make it my mission, alongside our new leader, to put family businesses at the heart of our policy and plans.
self-employed, hungry for a government that rewarded aspiration.
We will develop the detail over the coming months but this is an area where principles translate straightforwardly into policy. Lower taxes, a smaller state which does fewer things better and a government willing to stand up and defend
Daisy Cooper Liberal Democrat Treasury Spokesperson
LIBERAL DEMOCRAT BUSINESS & ECONOMIC COUNCIL The National Insurance contributions hike and the changes to business rates relief have combined to create huge cash- flow pressures, but it’s the changes in Business Property Relief that put some family businesses in real peril. Many have told me how they have literally had to sit around the family dinner table, working out what to do to keep the business going, in every eventuality depending on which family member dies first. Taking out insurance is an option for some but adds additional costs. Some tell me that they simply don’t want to try to “beat the clock” by passing the business to their children when their adult children haven’t yet decided whether they’re ready to take on the responsibility. And others fear it’s too late and won’t have any chance but to sell their company to a private equity firm – in effect putting an end to the company’s heritage, ethos, and values. We Liberal Democrats are always keen to engage with family businesses, learn from them, and make sure we have the right answers to the challenges they face. As a party, we stand ready to celebrate and defend them at every turn, because we know what truly fuels our economy: people, passion, and perseverance. In every high street and list of household favourites, the spirit of family enterprise lives on.
In an era of global conglomerates and fast-moving venture capital, family-owned businesses remain the quiet powerhouse of our local communities. These enterprises, often passed down through generations, are more than just economic players – they are the heart and soul of Britain’s high streets and hometowns. During a recent parliamentary debate, I made the case for the unique value of family businesses: they are symbols of trust, quality, and long-term vision, and are businesses which prioritise sustainability, employee satisfaction and community ties over short-term profits. From craft bakeries to garden centres, family-run firms provide more than jobs – they build social capital. They often stand as the largest employers in their regions, support local supply chains, and reinvest in their communities through charitable work and civic engagement.
But the Autumn Budget has created a very uncertain future.
BUSINESS PRIORITIES
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Advocacy update
Change. This was the only word that appeared on the front of the Labour Party’s General Election manifesto and, sure enough, a year later the world has changed, perhaps more than any of us – including the Government – had bargained for! A combination of global geopolitical and economic uncertainty and substantial increases in taxes on UK businesses, including the changes to Business Property Relief (which you can read more about in these pages), have created instability in financial markets and seen confidence plunge for both business and consumers. Meanwhile, the two-party political landscape, which has dominated English politics for years, has been upended following May’s elections in which voters abandoned the main political parties in their droves. Twelve months on from the UK General Election, the world of business and politics looks very different. So, what does all this mean for FBUK and our work to engage with government and policymakers? Over the last year we have, necessarily, focused almost exclusively on the changes to BPR. We know how important the policy is to the long- term success of family businesses and their importance to the economy. Despite presenting MPs and Ministers with a robust, evdence-based argument about the damage the changes to BPR will cause, the Government has rejected our calls for a consultation.
Martin Greig Director of External Affairs Family Business UK
Nevertheless, we will continue to make BPR a central theme of our engage- ment with the Government. We will use our latest research (which you can read about in these pages) to again push for a reversal or amendment to the policy and we will engage with all parties to make reversing the changes a manifesto commitment ahead of the next General Election. Putting the voice of family businesses at the heart of policymaking means we must engage in areas where family ownership, and the insights those businesses offer, have real benefit and real impact. In recent months, we have made submissions to the Industrial Strategy, we have engaged with Ministers about the Employment Rights Bill and made representations ahead of the deal on US trade tariffs.. One area in which we continue to play an active role shaping policy is through
our work with the Government’s Small Business Growth Forum. This group has been focused on developing the Government’s new SME Strategy and, through roundtables with government officials and direct engagement with the Small Business Minister Gareth Thomas, FBUK and our Members have been instrumental in shaping the strategy which will be published in the summer. We are also using our engagement with government to encourage policymakers to consider the importance of mid-market companies – the home of so many multi- generation family businesses. Whilst policymakers have largely got to grips with the needs of SMEs, businesses that sit in this “forgotten middle” continue to be overlooked. Our Partner NatWest has been instrumental in leading research and collaboration in this area and we look forward to working with them, and others, to build on their success. Our work to engage with Government and policymakers relies on you, our Members sharing views and experiences. Please continue to support our work and get in touch with the team info@familybusinessuk.org
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FBUK communities
Communities are central to FBUK and a valuable part of your membership. By the Members, for the Members, our communities offer an informal environment for peer-to-peer networking and the sharing of advice, ideas and experience.
It’s important for people in a family business to have a trusted network of peers outside the family and business to share experiences, seek advice and draw support.
There are eight communities for Members who hold a particular role in their family business or share a common interest:
Advisors Community
Chairs Community
Family Council Community
Next Gen Community
Non-Family Executives Community
Purposeful Business Forum
Now Gen Community
Policy Community
Policy: “The Policy Community Roundtable discussion with Adam Smith, the former Chancellor’s Chief of Staff, provided a unique opportunity and insight into the process of policy formation in Treasury.” Nicholas Bewes, Howard Group
For more information on our communities scan the QR code and follow the link or visit www.familybusinessuk.org/communities/
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feeding the nation from field to fork
With over a century of experience, Noble Foods is a trusted name in UK agriculture and food. Proudly family-owned and driven by a purpose to better nourish people, animals and planet.
Leading with purpose
Sarah Dean Owner & Chair, Noble Foods
and to build a business we’re all proud to be part of. In November 2024, we were honoured to receive the ‘Leading with Purpose’ award at the Business Culture Awards. This recognition was particularly meaningful because it validated the work we have done to ensure our purpose is not just a statement but a lived reality. The award highlighted our ongoing initiatives to create a workplace where people feel valued, inspired and empowered. From enhancing wellbeing support to developing leadership training programmes, we have been focused on making Noble Foods a place where people can thrive. Then, just a few months later, in February 2025, we were delighted to be named ‘Employer of the Year’ at the Food Manufacture Excellence Awards. This award further reinforced the strides we have made in creating a workplace culture that prioritises the wellbeing and growth of our colleagues. Whether it’s our commitment to career development, our focus on mental health and wellbeing, or our drive to build an inclusive and supportive environment, we are incredibly proud that these efforts are being recognised on a national stage.
How our people shape Noble Foods
and decision-making every day.
At Noble Foods, we believe that business success is built on a strong sense of purpose and a deep commitment to our people. As a fourth-generation family business, we have always recognised the importance of staying true to our values while continuously evolving to meet the needs of our colleagues, customers and communities. Our purpose is simple but powerful: to better nourish people, animals, and planet. It’s not just a slogan – it shapes every decision we make. From how we care for our hens to how we support our colleagues and drive sustainability across our supply chain, our purpose acts as a compass guiding our long-term strategy. Our company values – Together, Ownership, Courage, Action, Respect, and Excellence (TO CARE) – bring that purpose to life . Developed by our employees, these values define what it means to be part of Noble Foods. They’re not just words on a page; they’re deeply embedded in our culture, guiding our behaviour
I can remember when we first launched our purpose and values, following a collaborative process with the Noble Leaders Group and colleagues from across the business. As we left that room, Duncan (our CEO) and Louisa (our HR Director) said, “That’s the easy part. Now we have to live them every day.” They were right. The launch was exciting – but what’s been even more powerful is seeing our people bring them to life in their own ways. Whether it’s stories shared on w orkplace tagged with our values hashtags, or one colleague recognising another for going above and beyond, our values show up in moments big and small. They guide us, from the boardroom, where we refer to our purpose in strategic discussions, to major decisions such as investing in new milling capacity, launching our future leaders project, expanding our biodiversity work on farms or opening a new added-value factory. Every part of our journey ties back to that central aim: to better nourish people, animals, and planet –
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Sarah with colleagues at Noble Foods
powerful recognition of the team who have helped bring that vision to life. I’m genuinely so proud of how far we’ve come in just five years. Even through challenging times, we’ve remained focused on investing in our people and nurturing our culture. And because of that, I truly believe we can look ahead with confidence, knowing that our purpose continues to guide us forward.
This recognition from Food Manufacture was particularly
significant as it came at a time when we were expanding our footprint in added-value food manufacturing. With the opening of our Leicester innovation hub last year, we have taken bold steps to enhance our capabilities, invest in new product development and create even more opportunities for our people. Winning these awards is not just about celebrating past achievements; it is about reaffirming our commitment to continuous improvement. We know that culture is not built overnight, nor is it something that stays static. It requires ongoing effort, listening to our teams, and adapting to meet their needs. As we look to the future, we will continue to put our people first, ensuring that Noble Foods remains a When I brought the business back into 100% family ownership in 2019, I wanted to create a place where people could be themselves, feel that their roles had meaning and know the value of their contribution to the bigger picture. business where colleagues feel inspired and valued every day. These awards are not only a proud moment – they are a
Noble Foods logistics colleagues
Noble Foods colleague Ted Hololob
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New FBUK Members As Family Business UK continues to go from strength to strength, we’re delighted to welcome a growing number of family businesses to the network. Some recent new Members include:
Gunnercooke – is a leading international law and professional services firm that is one of the fastest growing in the UK. The Gunnercooke Group now has 14 offices across the UK, Europe and US including London, New York, Manchester, Berlin and Glasgow, comprising 500 lawyers acting for over 40,000 clients. Purpose and community are at the core of everything Gunnercooke does. The model is designed to foster strong relationships between clients and their trusted advisors. It aims to leave a lasting, positive legacy on the world. In April 2025, Gunnercooke founder Darryl Cooke welcomed his two sons, Hayden and Ashley, to join him at the firm, with the purpose of taking its award-winning culture into the next generation. Daryl Cooke says “I’d love the family to completely protect our long-term culture and create the sort of business where the people are first.” Barhale – is a second-generation civil engineering, infrastructure and tunnelling specialist. Originally established in 1980 by Dennis Curran, Chairperson, his children Lisa, Sean and Patrick are fellow directors on the Holdings Board. Whilst Barhale was founded as a dedicated tunnelling contractor, it has grown its skills and capabilities, including design and the supply of safety and construction products, to support its long-term commitment to the direct delivery of end-to-end construction services. Strong family values and industry-leading personal development pathways have confirmed Barhale’s status as an employer of choice shaping teams with a reputation for innovation and exceptional engineering ability. The company is now one of the largest privately-owned infrastructure businesses in the UK, recognised by New Civil Engineer as the Tunnelling Contractor of the Year and by The Sunday Times as a Top 100 Place to Work. Visit www.barhale.co.uk AV Dawson – is a third-generation, family-owned business – a multimodal logistics provider which owns and manages the Port of Middlesbrough on the River Tees in Northeast England. With 87 years of industry expertise, the business has grown into a leading name in port operations, logistics, and specialist transport solutions. Today, it employs approximately 200 people across Teesside. Under the leadership of Chairman Gary Dawson, grandson of founder Arthur Vernon Dawson, the AV Dawson group comprises several subsidiary businesses, including Port of Middlesbrough Limited, AV Dawson Transport Limited, AVD Industrial and Port Services Limited and Cockfield Knight, its in-house shipping agency and ship brokerage. AV Dawson also offers comprehensive warehousing, storage and office accommodation, supporting businesses with reliable and versatile end-to-end logistics solutions.
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If you’re a new – or existing – FBUK Member and would like to have your family business profiled in a future edition of the FBUK magazine, please get in touch! info@familybusinessuk.org
JAA Media (John Ayling & Associates) – was founded in 1978 by John Ayling OBE. In his 81st year John still works four days a week as Chairman. JAA Media has thrived for 47 years in a fast-moving, ever-evolving media landscape. Working with advertisers across all sectors, the agency is proud to back underdog brands that want their media spend to punch above its weight. In 2021 John was joined by his daughter, Caroline, to drive future growth of the agency. The Ayling’s are passionate about helping brands realise their ambitions through paid media channels, from audio and out-of-home to TV and YouTube. Being a family business, JAA is in a unique position to advise other family-owned businesses on their media strategies. We currently work with family-run businesses such as Loake Shoemakers, Baylis & Harding and Squires Locks alongside 70 additional clients billing £121.4m a year. Poole Bay Holdings Ltd – manufactures and sells a diverse range of products through catalogues and multiple ecommerce sites. It was officially formed in 2007, although the group’s first business, NBB Ltd was founded in 1993. Since then, the group has grown vastly and now consists of over 20 websites, including the leading hot and cold therapy brand Koolpak. Family run, owned by Mike McKenna and Martyn Bright, and based in Poole, Dorset, with 150,000 square feet of warehouse, factory and office space, PBH employs over 200 dedicated people, based at two sites, and was shortlisted as a runner up at the Dorset Business Awards in 2024 for the Digital and Technology Award. With an ethical approach to business, and a large customer base, PBH drives growth by innovating new products and launching new websites. Woodmansterne – is the leading publisher of high-quality greetings cards in the UK, with over 40 million cards sold each year. Founded in Watford in 1953, Woodmansterne was a photographic colour slide publisher known the world over for its quality. Now, as a third-generation family business with over 150 employees, the company has evolved and grown, with innovation, quality and sustainability at its heart. From one of the UK’s greenest warehouses in Milton Keynes, Woodmansterne runs the sophisticated production and logistical operation that supplies and manages the card departments of John Lewis, Waitrose and 400 top garden centres across the UK. Led by Seth Woodmansterne, MD, with his father Paul as Chairman, the business has doubled in size in the last five years, continues to invest in the future, and hopes to become B Corp certified in 2025. Through the sale of charity Christmas cards over the years, the business has helped raise over £6 million for charity.
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RCP Parking wins Best Large Business – Eastern Daily Press Business Awards
RCP Parking has collected the award for Best Large Business at the Eastern Daily Press business awards. RCP, which is based in Norwich, was founded in 1994 by Shapoor Naghshineh who has since been joined in running the family business by his daughter Sarah. RCP has grown quickly and now operates 60 car park locations across the UK and is accredited as a “Great Place to Work.” In making the award the judges called RCP a “driving force for change in the sector,” and described Sarah as an “exceptional leader.” Collecting the award Sarah said “This award means so much. We are really proud of what we do and be recognised as part of the community. “I’m so proud of the team here at RCP. With them, the sky is the limit. This award is for them.”
Michelle Taft wins Judges Award – Women in Business
FBUK member Michelle Taft (Non-Executive Director at John Good Group) has scooped the special Judges Award at the annual Women in Business Hull Awards. Michelle, who also chairs the John Good Group’s People and Planet Committee, picked up the award for ongoing dedication and excellence with the Matthew Good Foundation, a charity established by the Group which has now donated over £1.5 million to various causes since its inception in 2011. Michelle said, “This award is not just a personal achievement, but a reflection of the incredible work our team has accomplished through the Matthew Good Foundation and John Good Group. Together, we’re making a real difference in our community, and I’m so thankful to everyone who has been part of our journey.”
Georgina Young wins Brewer’s Brewer of the Year
Head Brewer and Brewing Director at FBUK Member St Austell Brewery has been named Brewer’s Brewer of the Year. Georgina Young, who has been at the helm of brewing operations at St Austell Brewery for five years, was voted the Brewers’ Brewer of the Year at the Society of Independent Brewers and Associates (SIBA) Business Awards 2025. This is Georgina’s third award in the past two years having been crowned Brewer of the Year and picking up a Lifetime Achievement award, both in 2023. “It feels very special to have won this award,” says Georgina. “I’m very fortunate to be surrounded by brilliant people in the beer world, and having been chosen by peers to receive the accolade is a proud moment.”
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Parallels in perseverance Caroline Platt, 2nd Gen Managing Director of Platts Agriculture, has raised thousands for charity through a series of personal challenges. After her latest adventure she writes about the parallels between these and leading a family business.
Much like crossing the desert on two wheels requires adapting to shifting conditions, running a family business means navigating long-term challenges. Beyond personal growth, I see these challenges as an opportunity to give back. My latest adventure was about more than the open road - it was about raising money for WeMindTheGap, a Wrexham-based charity supporting young people As someone who has continued to grow our family business, I feel a responsibility to ensure that we’re creating opportunities for the next generation. After all, they will be the ones who, one day, take the reins of family businesses and continue to drive them forward. Incorporating these personal adventures into my professional life is a reminder that we’re all part of something bigger. Like the challenges we face in business, the long road is never straight. It’s filled with moments of uncertainty, but those are the moments that make the journey worthwhile. facing barriers in education, employment, and training.
Earlier this year, I set off on a 10-day motorbike adventure across the Arabian Peninsula, riding from Dubai to Oman with a group of six, including Guinness World Record- breaking adventurer Neil Laughton. My passion for challenges began at 50 when I set a goal to visit the Seven Wonders of the World. Having already seen the Colosseum, Taj Mahal, and Machu Picchu, a pivotal moment came in 2023 when my friend Cherrie invited me to join a charity trek to Petra - my fourth wonder. Since then, I have continuously pushed my limits – trekking 100km in Wadi Rum, 60km Trek in the Arctic Circle, dancing the rumba for Nightingale House Hospice, and completing a 14.8-hour walk in honour of a friend’s late father. Each challenge I take on is driven by more than just personal achievement. It builds resilience, adaptability, and vision - qualities essential to both adventure and entrepreneurship. Facing obstacles on the road teaches the same lessons as overcoming business setbacks. Entrepreneurs must take calculated risks, adapt quickly, and maintain a strong work ethic, all whilst leveraging networks for collaboration and support. My experiences, from obtaining my motorbike licence in 2011 to earning my HGV qualification in 2017, have reinforced the value of stepping outside my comfort zone. These challenges fuel personal and professional growth, shaping me into a more determined leader. Through these experiences, I’ve come to see parallels between personal challenges and the struggles faced in family business.
Caroline Platt Managing Director Platts Agriculture
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Taxing futures
Martin Greig Director of External Affairs Family Business UK
Figure 1: Overall Impact Table
Our latest research looking at how family-owned businesses and the economy will be hit by changes to BPR and APR offers new insights and a new perspective on how business owners will respond to these changes. The research has again been done by CBI-Economics. Working with more than 30 trade associations it has involved more than 4,000 family-owned businesses and farms right across the UK making it the most comprehensive study to date. Since FBUK first published the data on the impact of the policy change to BPR, we have built working relations with dozens of trade associations whose members include a significant proportion of family businesses. These associations span every sector of the economy from construction and home building to retail, transport, agriculture, horticulture and leisure. The size and sectoral spread of the research sample has allowed CBI Economics to produce the most robust analysis yet of the economic impacts. The numbers in Figure 1 reflect this suggesting that the combination of changes to BPR and APR will result in:
As the Government has yet to publish its own data, our research stands as the only insights showing how family business owners will behave in light of the policy changes. The Government’s fiscal watchdog, the OBR, has cited the uncertainty of these behaviours in attaching a high degree of uncertainty to the policy. One of the most striking findings from the research is that business owners are not waiting for the policy changes to take effect in April 2026 before taking far-reaching decisions which will have a lasting impact. Figure 2 shows a breakdown of these with business owners seeking professional advice, pulling current and future investment and pausing current and future recruitment plans at the top of the list. According to the research only 6% of businesses have done nothing since the Budget and only 1% will do nothing before April 2026.
Working with our network of a trade associations our latest insights have identified the sectors most affected by the changes. These include accommodation and food services, agriculture, horticulture, construction, manufacturing real estate and retail. What’s more, given the spread of these business across the UK, CBI Economics has, for the first time, been able to show the impacts across UK regions and Parliamentary Constituencies. You can find the full list on our website. The scale of the impacts are spread across the country. Figure 3 shows that the economies of Yorkshire and Humberside and the East of England will be hit hardest by reductions in investments made by family busi- nesses. The North-West, North-East and Scotland will feel the impact of decisions to reduce recruitment, while reductions in the turnover of family businesses will be seen most in the East and West-Midlands.
l £14.9 billion reduction in GVA (economic activity)
l 208,500 FTE job losses
l £1.9 billion net fiscal loss to the Government
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Figure 2: Actions Since Budget
A large proportion of impacted family businesses have taken measures to mitigate BPR already
What additional steps, if any, might you take to mitigate any potential impacts of changes to BPR in the future (before April 2026) (% of respondents, N=3,357)
What measures have you already taken to mitigate any potential impacts of changes to BPR, if any? (% of respondents, N=3,357)
Take(n) legal advice
68%
66%
55%
44%
Pause(d) or cancel(ed) planned investments
Defer(red)/reduce(d) investment
41%
38%
Reduce(d) headcount or pause(d) recruitment
23%
23%
16%
46%
Gift(ed) shares or assets to family members Reduce(d) or cancel(led) charitable contributions or community activities
15%
16%
7% 6%
22%
Downsize(d) business
Intentionally hold(held) back business/asset growth beyond the £1m valuation threshold Take(took) out insurance to cover future inheritance tax costs
9%
6%
24%
3%
13%
Sell (sold) assets and/or shares to non-family
Close(d) business and liquidated
0% 0% 0%
7%
Relocate(d) business assets overseas
5%
Sell (sold) off business entirely)
12%
9%
5%
Other (please specify)
3%
7%
Not sure/ don’t know
6%
1%
(Do) nothing/ no change
80% 70% 60% 50% 40% 30% 20% 10% 0%
0% 10% 20% 30% 40% 50% 60% 70%
Figure 3: Regional Impact from BPR
Away from the hard economic numbers, one of the most concerning impacts of the policy change is on the role family businesses play as champions of their local communities and supporters of local charities. The owner of one business based in the South-East told us: “ We have historically been very active in the local community. We were planning on providing land
and building a football pitch for the benefit of young people to help them get off the streets. But this has now been cancelled as we provide for IHT liabilities” The findings underline what we have been saying to policymakers for years: that BPR and APR are examples of how tax policy can be used to create good growth, to incentivise businesses to invest by giving them
confidence to make long-term commitments to their business, their workforce and their local community. We will continue to use these data to push for a full reversal or amendment to the decision taken during last Autumn’s Budget. Please visit our website to download a copy of the full report. Send it to your MP and highlight the impact in their constituency. www.familybusinessuk.org
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Six things you must do to plan for changes to BPR
Changes to Business Property Relief, announced in last October’s Budget have torn up the succession plans of many family businesses and left several facing potentially enormous future liabilities. Pending any last-minute reprieve, delay or amends to the policy, the new rules on BPR will take effect in April 2026. That means there is still time to plan for the changes but, the clock is ticking. We asked FBUK’s network of corporate partners, specialists in tax and legal planning, for their tips on what you should do now to mitigate next year’s change. 1) Get a valuation. This has to be the first step any business owner or shareholder must take. Without this, there is no way of knowing how the policy change will impact your business and your family. Calculate the inheritance tax (IHT) liability due if a shareholder died now, then recalculate based on the £1 million threshold that will be applied if that death were to happen post April 2026. A critical part of this is to review the ownership structure and who owns
what. This may sound ridiculous but it isn’t always as clear as it might be. The ‘boss’ may not be the [only] owner! 2) Advice and advisors . Look critically at your advisers and ask yourself: are they up to the job? Those that you may have used for decades and are used to dealing with the everyday needs of the business, may not be the best for looking at the bigger picture of succession planning and strategic issues that affect more than one family generation. Ultimately, once you have gone through a pre / post April 2026 valuation exercise, if you are not happy with your position, then you should be taking advice on how to mitigate increased liabilities.
next generation (see note on gifts). Consider whether the company constitutional documents need updating - changes to articles, shareholders agreements etc. Consider mechanisms that will also protect individuals – things like pre and postnuptial agreements, family trusts, and corporate holding structures are essential tools to keep wealth secure across generations. With IHT burdens rising, there’s also more at stake in the event of family disputes or mismanagement. Protection planning isn’t just for the ultra-wealthy – it’s about preserving what’s built. If succession planning answers “who gets what,” asset protection ensures “they keep it.” 3) Consider gifts. One thing the Autumn Budget didn’t change was that if a person gifts away an asset (such as shares in a business) and survives for 7 years from the date of gift, then those shares are outside of their estate for IHT purposes. So, gifting remains a valuable route to mitigate IHT. Gifts made before April 2026 can still qualify for up to 100% relief – provided
This may be through accelerated transitioning of the business to the
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