For those involved in or with family business
SMEs account for 99.3% of all private sector enterprises in Scotland and 63% of SMEs are family businesses. Their success and long term sustainability is of crucial importance to Scotland’s economies and communities.
Supporting Scotland’s SMEs and family businesses is vital. Yet in Scotland, we appear to be lagging behind America and parts of Europe in providing the background of knowledge, skills, help and support needed by business families, the majority of which are SMEs, to build and protect the legacy of their enterprise for generations to come.
What’s to be done?
In the Spring, there will be two landmark conferences in Edinburgh (25th April, 8.30am – 12.30pm) and Inverness (9th May, 10am – 2pm.) Apart from being highly innovative, entertaining and informative, the purpose is to address the challenges highlighted and bring forward recommendations for practical interventions. We are therefore seeking to engage with representatives from SMEs, Family Businesses, Government, Education and Professional Advisers to Family Businesses to:
> discuss and understand the impact of a changing demographic profile in Scotland
> hear findings from the University of Strathclyde’s TOK-TOC project, outlining recent research on
SMEs Successful Business Transfers in Europe
> identify the learning/education required for effective succession planning and exit strategies in SMEs and family businesses
> highlight the particular difficulties that business families face, especially at times of business transfer
> explore where existing support structures/organisations could intervene more successfully in meeting the needs of family businesses beyond the first generation
> identify the knowledge and skills needed by the families and their advisors tomanage family related
ownership and governance issuesmore effectively
> identify actions to influence policies and practices relating to succession planning and exit strategies
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