The FBU Family Business Survey 2019

Share your thoughts...

As champions of the family business sector we are keen to hear your thoughts on matters affecting family businesses across the UK today.

Your thoughts will add to the overall voice and help us to create and share resources for the broader family business community. All responses are confidential. Our 2019 family business survey is being sponsored by Mazars.

We really do appreciate the time taken to complete the questionnaire and the final report will be available in the Autumn.

Thank you.

Paul Andrews - Founder & Managing Director, Family Business United

www.familybusinessunited.com

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* 1. When it comes to the family business, do you think that a clearly defined purpose and set of core values are important to help the family business stand the test of time?

Yes

Don't Know

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* 2. As a family business what are the key drivers for you and your business going forward? Tick all that apply.

To pass the business on to the next generation in a better state than when it was taken on

To act as custodians of the business for future generations

To protect the business to ensure it is profitable and sustainable going forward

To provide and safeguard jobs for the wider community

To become sustainable environmentally

To be philanthropic and support causes that reflect our underlying values

To create a business that attracts the next generation of family members

To create maximum value within the business with a view to exiting

To manage our reputation and brand

Other (please specify)

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* 3. There is a lot of talk about legacy at the moment - is this something that you have actually thought about?

Yes

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* 4. When it comes to legacy, have you thought about:

	Yes	No
Your own PERSONAL legacy	Your own PERSONAL legacy Yes	Your own PERSONAL legacy No
Your FAMILY legacy	Your FAMILY legacy Yes	Your FAMILY legacy No
Your FAMILY BUSINESS legacy	Your FAMILY BUSINESS legacy Yes	Your FAMILY BUSINESS legacy No

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* 5. Is your family business history and heritage:

	Yes	No	Don't Know
Part of your brand identity	Part of your brand identity Yes	Part of your brand identity No	Part of your brand identity Don't Know
Included on your website/marketing materials	Included on your website/marketing materials Yes	Included on your website/marketing materials No	Included on your website/marketing materials Don't Know
Used as part of your marketing strategy	Used as part of your marketing strategy Yes	Used as part of your marketing strategy No	Used as part of your marketing strategy Don't Know
Useful when it comes to winning new work	Useful when it comes to winning new work Yes	Useful when it comes to winning new work No	Useful when it comes to winning new work Don't Know
Beneficial when it comes to recruiting and retaining staff	Beneficial when it comes to recruiting and retaining staff Yes	Beneficial when it comes to recruiting and retaining staff No	Beneficial when it comes to recruiting and retaining staff Don't Know
Are important for the long term success of the business	Are important for the long term success of the business Yes	Are important for the long term success of the business No	Are important for the long term success of the business Don't Know

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* 6. Times continue to change in the digital/technological arena. Do you see disruption as a threat or an opportunity for your family firm?

Threat

Opportunity

Don't know

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* 7. Does your family business have appropriate plans in place to manage and maximise your digital strategy?

Yes

Don't Know

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* 8. Which of the following digital platforms/communication channels are used by your family business? (Select all that apply)

Instagram

Twitter

Facebook

Website

Regular blog

What's App

YouTube

Don't Know

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* 9. Do you think family firms are more productive than their non-family counterparts?

Yes

Don't Know

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* 10. Productivity is very much on the UK agenda at the moment. When it comes to productivity what, if any, are do you think are the main barriers to implementing productivity improvement activities in family firms? (select all that apply)

Difficulty accessing finance or capital

Lack of available talent/skills to implement change

Lack of senior management time

Staff resistance to change

Lack of internal knowledge or expertise to drive change

Other priorities taking precedence

Unable to access relevant external support or advice

Unwillingness to invest to make productivity improvements

Lack of support from senior decision makers or the board

Lack of knowledge about what to do to improve productivity

Cost of improvement and time for ROI to come through

Lack of desire to change

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* 11. Do you think that being a family firm offers a competitive advantage?

Yes

Sometimes

Never

Don't Know

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* 12. When it comes to governance of the family firm is there:

	Yes	No	Don't Know	Work in Progress
A shareholders agreement in place?	A shareholders agreement in place? Yes	A shareholders agreement in place? No	A shareholders agreement in place? Don't Know	A shareholders agreement in place? Work in Progress
A documented succession plan in place?	A documented succession plan in place? Yes	A documented succession plan in place? No	A documented succession plan in place? Don't Know	A documented succession plan in place? Work in Progress
A formal charter/constitution in place?	A formal charter/constitution in place? Yes	A formal charter/constitution in place? No	A formal charter/constitution in place? Don't Know	A formal charter/constitution in place? Work in Progress

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* 13. Do you think that:

	Yes	No	Don't Know
Formal governance practices create better family firms	Formal governance practices create better family firms Yes	Formal governance practices create better family firms No	Formal governance practices create better family firms Don't Know
Alignment of family and business goals help create successful family firms	Alignment of family and business goals help create successful family firms Yes	Alignment of family and business goals help create successful family firms No	Alignment of family and business goals help create successful family firms Don't Know
The next generation should gain experience outside the family firm first	The next generation should gain experience outside the family firm first Yes	The next generation should gain experience outside the family firm first No	The next generation should gain experience outside the family firm first Don't Know

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* 14. What concerns are top of your family business board agenda at the moment ? Tick all that apply.

The Economic Climate

Environmental Issues

Regulation, Red Tape & Legislation

Global Political Uncertainty

Cyber Security

Access To Finance

Succession/Identifying & Developing Future Leaders

Brand Reputation & Risk

Recruiting. Retaining & Motivating Staff

The Changing Nature Of Retail & The High Street

Profitability & Sustainability Of The Business

Remuneration Planning

The Next Generation

Strengthening the Board

Developing Our Business Overseas

Preserving Wealth & Creating A Legacy

Improving Customer Engagement

Taxation

Marketing/PR & Social Media

Selling The Family Business

Balancing The Needs Of The Family & The Business

Innovation, Technology & The Internet

Family Governance & Managing Shareholders

Financing Growth

Retirement Planning

Other (please specify)

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* 15. Succession is always a topical matter for family firms so:

	Yes	No	Don't Know
Is succession on your family business agenda	Is succession on your family business agenda Yes	Is succession on your family business agenda No	Is succession on your family business agenda Don't Know
Is a transition of leader likely in the next five years	Is a transition of leader likely in the next five years Yes	Is a transition of leader likely in the next five years No	Is a transition of leader likely in the next five years Don't Know
Is the next leader going to be a family member	Is the next leader going to be a family member Yes	Is the next leader going to be a family member No	Is the next leader going to be a family member Don't Know
Will the next leader be recruited from within	Will the next leader be recruited from within Yes	Will the next leader be recruited from within No	Will the next leader be recruited from within Don't Know
Will the next leader be brought in to run the business	Will the next leader be brought in to run the business Yes	Will the next leader be brought in to run the business No	Will the next leader be brought in to run the business Don't Know
Is there a next generation member primed to be a leader of the future	Is there a next generation member primed to be a leader of the future Yes	Is there a next generation member primed to be a leader of the future No	Is there a next generation member primed to be a leader of the future Don't Know
Do you ever envisage the sale of the family business	Do you ever envisage the sale of the family business Yes	Do you ever envisage the sale of the family business No	Do you ever envisage the sale of the family business Don't Know

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* 16. In which region is your head office?

North East

North West

Yorkshire

Scotland

Wales

Northern Ireland

Midlands & Central

East & East Anglia

London & South East

South & South West

Other (please specify)

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* 17. In which sector is your core business mostly involved?

Food & Drink

Retail

Health & Welfare

Hotel & Leisure

Property & Construction

Energy & Renewables

Transport & Logistics

Creative Industries

Education

Homes & Gardens

Professional & Financial Services

Manufacturing

Agriculture, Farming & Forestry

Other (please specify)

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* 18. What is the size of your business?

Less Than £1 Million Turnover

£1 - £5 Million Turnover

£5 - £10 Million Turnover

£10 - £20 Million Turnover

£20 - £50 Million Turnover

£50 - £100 Million Turnover

More Than £100 Million Turnover

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* 19. How many employees do you have?

Less Than 10

11 - 50

51 - 100

101 - 250

More Than 250

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* 20. In what year was the business founded?

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* 21. What is the oldest generation of family involved in the business?

First

Second

Third

Fourth

Fifth

Sixth

Seventh

Eighth

Ninth

Tenth Or Older

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* 22. If you could get make a recommendation for one change to be implemented by the Government to make life easier for family businesses in general, what would it be?

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* 23. Please complete the following if you would like to request a copy of the survey in due course:

Name

Organisation

Position

Email Address

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* 24. Are you happy for FBU to contact you with details of relevant family business events, insights and publications?

Yes

Please add your email address for us to contact you as appropriate:

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* 25. Are you happy for Mazars who are sponsors of this survey to contact you with details of relevant family business events, insights and publications?

Yes

Please add your email address for us to contact you as appropriate: