Creating a solid foundation for the future of family business

The future of family business is looking that bit brighter thanks to the creation of a first-of-its-kind education and professional development foundation for UK families in business.

The Family Business Community, a trusted network for collaboration and learning officially launched the not-for-profit organisation at their North West Family Business Awards event in May.

The Family Business Foundation will enable the UK family business sector to access educational and professional development support for both present and future generations.

Co-founder, Sue Howorth explained the origins of the foundation saying: “Having worked with family businesses for so many years, what became really apparent was their desire for longevity and sustainability in the sector but also a way for family businesses to knowledge share and give back.

“The consensus was for an inclusive, developmental organisation to support new and incoming generations of families in business, hence The Family Business Foundation was born.”

Sue added: “The Foundation will help to support the long-term sustainability of the sector through securing longer term employment and job creation, as well as development and growth within the economy.”

The Family Business Foundation will offer match funded education and professional development to current and future generations working within small and medium sized family businesses from across all sectors across the UK.

The Foundation was set up in early 2021 and have since appointed a Board of Trustees. Last month, The Family Business Foundation held its first trustee meeting, bringing together a board of seven individuals from across the UK with a vast array of knowledge and experience within the family business sector.

Board member and family business leader, Jane Montague said “We know that family businesses are at the heart of the economy and our communities, leading the way in how we look after the clients we serve and the people we work with. Family businesses can sometimes be an insular group however, needing a little encouragement and extra resource to allow us to widen our horizons.

The Family Business Foundation will be there to help support and enable our innovation goals to be realised. We are all excited to be a part of this incredible organisation and to help family businesses build for their futures and make real their wish to be the best they can possibly be.”

Co-founder, Dave Clarkson said, “Funds are already being driven to the Foundation through our FamBiz Premium Subscription service that provides subscribers access to our engaging media channel as well as discounted access to our events. A percentage of the fee that subscribers pay goes straight to the Foundation.”

The fund is managed via the fully verified and protected Investors in Community platform, where donors can earn community credits that help support their ESG and social impact profile.

Dave added, “We are now seeking family businesses and larger organisations that support the sector to pledge their support for the Foundation.”

To find out more information about The Family Business Foundation, visit www.thefamilybusinessfoundation.com