Lincoln

Forum to recognise the role of family businesses in Lincolnshire

The next Lincolnshire Family Business Forum, taking place later this month, will look at the role and value of investment into a family business including the benefits and the potential barriers and pitfalls.

Hosted by Streets Chartered Accountants, Andrew & Co Solicitors and NatWest Bank and supported by Business Lincolnshire, the Lincolnshire Family Business Forum will take place on Friday, October 20 at R H Stokes at The Lawn, Licnoln.

It will acknowledge the important role that family businesses play in Lincolnshire’s economy and recognises the unique challenges they face.

To help family businesses consider and debate some of the issues and concerns around the role of external investment and capital in a family business, the session will include a panel discussion.

The panel of specialists will consider the need for investment, the options for funding and some of the pitfalls and challenges facing both family members and non family members involved in such a decision.

The panel will consist of:

  • Neil Gray, Corporate Finance Partner at Streets Chartered Accountants
  • Paul Simpson, Corporate Solicitor at Andrew & Co LLP Solicitors
  • Russell Copley from Lincolnshire Investment Network
  • Andy Procter, Relationship Director at NatWest

Streets Corporate Finance Partner and specialist family business adviser, Neil Gray, said: “Traditionally most family businesses are funded by the family who are directly or indirectly involved it in, with perhaps some conventional bank borrowing or a loan.

“However, it is increasingly typical for family owned businesses to look at alternative and additional forms of finance to support growth, re-structure and even the buyout of other family members or the acquisition of a competitor.

“Often though, external investment is either overlooked or discounted due to a lack of awareness of what funding is available.

“There is also still some reticence about giving up some of their existing equity as many family businesses still like to own all the equity. However few businesses, let alone family businesses, can disregard a need for funding and investment in today’s commercial world.”

Attendance at this event is by invitation only to family businesses.

Those interested in attending should email [email protected] or call Laura Butler, Marketing & Design Assistant at Streets Chartered Accountants, on 01522 551200.