Partner and Head of Wills & Estate Planning at Andrew & Co Solicitors Helen Newson writes...
Business Lunch will be a Family Affair
- AuthorJulie Bailey
Chairman of Lindum Group David Chambers will be sharing his experiences of running a successful family business during an event at Doddington Hall in Lincoln later this month.
David is just one of a number of business owners who will be speaking at The Family Business Lunch being organised by Andrew & Co LLP, Streets Chartered Accountants and NatWest on 20th October.
Julie Bailey, Partner at Andrew & Co LLP, said: “Family businesses are an important part of our economy here in Lincolnshire.
“The aim of this lunch is not only to celebrate local companies, but to let them know that there are costly legal issues which may present themselves when a family member sadly passes away or loses capacity. We will be discussing what options are available to businesses who might not have thought that far ahead.
“We’ll also be addressing situations that occur in firms like this that might be unexpected or different simply because staff are members of the family.”
Alongside the Lindum Group, which is a Sunday Times top 100 employer involving second and third-generation family members, bespoke kitchen and furniture makers Chiselwood will be sharing their experiences. And Myers Bakery, a fourth-generation business, will explain how they have grown from making their first batch of Lincolnshire plum loaves in 1901 to supplying the likes of British Airways.
The lunch will provide a unique opportunity for those running and who are involved in their own family business to meet and share experiences.
Several pre-lunch presentations will also draw on the expertise of those supporting and advising family businesses.
The speaker line-up includes:
Neil Gray, Partner and Family Business Adviser at Streets Chartered Accountants who will give advice on building the value of your family business. His presentation will focus on the need to understand and address the difference between having a stake in the business and being involved in its management.
Julie Bailey and Helen Newson, Partners at Andrew & Co LLP who will give a presentation on taking the risk of not planning ahead. They will outline issues that may well be unexpected for family firms and how to deal with them effectively.
Mark Evans, Managing Director of the Coutts Institute who will be giving advice on succession – a particularly relevant subject for family businesses. Mark will outline the need for securing a process for managing family business succession and explore some of the options for passing on your business.
Businesses attending are therefore being encouraged to bring family members from different generations to the event. The lunch is by invitation only and takes place on Tuesday 20th October at Doddington Hall.