Shreyans & Michael
FAMILY BUSINESS DAY – CONVERSATIONS IN FAMILY BUSINESS
From Estee Lauder to Samsung, some of our most enduring brands and favourite products have been created by family firms. It is estimated that in the UK, family businesses are responsible for 40% of private sector jobs and 31% of tax revenue. Family businesses are all around us—from the neighbourhood mom-and-pop stores and the millions of small and midsize companies that underpin many economies to household names such as Mars, FIAT & TATA.
As family businesses expand from their entrepreneurial beginnings, they face unique performance and governance challenges. Indeed, less than 1% percent of family businesses survive beyond the third generation of family ownership. According to several researchers, those that do, however, tend to perform well over time compared with their corporate peers. Family business offers two separate but interconnected systems of family and business with uncertain boundaries, different rules, and different roles. Family businesses are different from other businesses due to the inclusion of family and relational bonds among family members. Thus, there is the integration of family and business cultures.
LBS’ Family Business Day is an opportunity for those who are in any way connected to Family Business or who are just interested to learn more about them, to come together share their knowledge and hear from experts in this field. The 3rd Family Business Day aims at doing this by bringing to you a wealth of knowledge which will be shared in person through interactive sessions, presentations and panel discussions, led by very eminent persons from this domain.
The LBS Family Business Day will be held under the Chatham House rule.
FAMILY BUSINESS CLUB EXECUTIVE COMMITTEE
Shreyans & Michael