Lincoln

Family Business Forum returns to Lincoln

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The next Family Business Forum will look at the challenges and successes family businesses in Lincolnshire have experienced.

Originally set up earlier this year by Andrew & Co Solicitors, Streets Chartered Accountants and NatWest Bank, the next event will be held during a lunch at Washingborough Hall Hotel on Friday, October 21.

Speakers include Martin Issac from Oldrids & Co Ltd who will explain how he worked his way up to become chairman of one of county’s oldest and most successful family-run retailers and what it’s like to be the only remaining family member on the company’s board.

Maya Prabhu and Stuart May from Coutts Institute, who specialise in looking after the needs of family businesses, will also speak at the event about the pros and cons of passing on ownership/leadership to other family members compared to bringing in non-family members.

The lunch will end with a panel discussion between delegates and experts from Andrew & Co Solicitors, Streets Chartered Accountants and NatWest Bank.

Chairman of Andrew & Co Solicitors Julie Bailey, said: “Family businesses are often seen as the lifeblood of the UK economy.

“Two thirds of UK businesses are family owned and they generate over a quarter of the country’s GDP.

“However, long-term survival can often be a struggle not least because of the issues surrounding the transfer of the business between generations of the family and the implications of this for the business.

“This is why succession planning is particularly important and the key focus of our Business Family Lunch. Family members often find it difficult or emotive talking about the issue but we hope that our speakers will be able to shed some light on it by sharing their own experiences. And of course our experts will be on hand to provide help and advice.”