There are more than five million family businesses in the UK. They employ 14.2 million people and generate a quarter of UK GDP. Many people who start a business do so with a family member, whether their spouse, partner, sibling, son or daughter or other relation. And although there can be many pros to going into business with family – there can be cons. So, what’s the key to getting it right so that the business is successful and family relationships are safeguarded?
We speak to Fiona Graham of Family Business UK (formerly the Institute of Family Business), who provides tips that could also help you if you’re thinking of going into business with a colleague or friend.
Starting and running a family business
- Family businesses
- Q&A: Family businesses
- Eight tips for successfully working with family
- Employing family members
Resolving problems in a family business
- Preventing problems in family businesses
- Family businesses FAQs
- Passing your business onto your family FAQs
- Q&A: family investors
- Shareholder agreements
- Visit the Family Business UK website
- Essential guide to finding advisers in finance, law, HR and intellectual property
- Join our Facebook group the Donut Small Business Collective
About our expert
Our guest is Fiona Graham, director of external affairs and policy at the Institute for Family Business (IFB). The IFB is UK’s largest dedicated family business organisation, championing and representing their members since 2001. They want to help shape a more prosperous and sustainable future for generations to come.
About our sponsor
Thanks to Dell Technologies for sponsoring series four of the Start Your Own Business podcast.
Dell has what you need to start, scale, and succeed, including end-to-end tech solutions to boost productivity and maximise security so you can focus on innovation.
Our partnership with Dell means you get top products at special prices and a personalised consultation from a dedicated tech adviser who will get to know the goals of your business. Find out more by emailing the Dell for Startup UK representative at [email protected].
To make sure you don’t miss an episode:
- Find “Start Your Own Business” on your podcast app of choice and hit the subscribe button – we recommend Apple Podcasts and Spotify
- Subscribe to our newsletter
To get tips, support and inspiration from other small business owners:
- Join our thriving Facebook group the Donut Small Business Collective