Post-Covid 19 Guidance
As family businesses look to the future and plan for the new reality in a post-Covid 19 world, this page collects useful insights, experiences and guidance to help steer your company towards long-lasting success.
We have planned a series of online events throughout the summer to bring family businesses together, share insights and explore opportunities around common challenges. We'll explore how to re-imagine our future, what policy will look like and what it means for family businesses, nurturing leadership talent in the family and much more.
Leadership has been one of the most discussed topics over the past few months. But whilst good leadership is crucial during a crisis, there are some fundamental skills that family business owners can develop during times of 'peace', which lay the foundations for a successful business and which help better manage a crisis when it arises.
In a recent article family business expert Randel Carlock looks at the how family business leaders can inspire their families, employees, stakeholders and communities so that they do not just survive but thrive in the future.
anticipating the new reality
With various governments releasing their macro level plans for the return to the New Reality, now is the opportune time for businesses to do the same and capitalize on potential first mover advantage. Our partners KPMG have published some guidance for family businesses looking to bring structure to the way they visit their post-COVID business plans and strategy.
REINVENTING THE FAMILY BUSINESS AFTER THE PANDEMIC
In this episode of The Family Business Podcast, Russ Haworth draws on Dennis Jaffe's long-standing family business experience to explore:
- What families can be doing now
- Reviewing why you are in business together
- The roles each generation can play
- How to build resilience
Despite their reputation for resilience, optimism and agility, most family businesses have been under significant pressure to respond to the general health, safety, and welfare challenges introduced by the COVID-19 pandemic, along with the operational disruptions to their business.
Deloitte Private has produced a series on the resilient family enterprise, which explores how the same traits that set family businesses apart are creating authentic opportunities for resilience, growth, and recovery.
The introductory article in the Resilient Family Enterprise series, unique characteristics of family enterprises that could position them to thrive, examines how COVID-19 brings new focus to family business issues like succession planning, values and purpose, and legacy.
FAMILY FIRMS: NATURAL SURVIVORS?
Academic research published in the wake of the banking crisis provides a timely and encouraging reminder of the resilience of the family business model. What can family businesses today learn from it and for the future?
The Covid-19 crisis has highlighted for many families the need for better ways to communicate and structure their relationship to the business.
Building family governance is a necessary step for families who want to lead their business to multi-generational success.
Succession planning is a perennial family business issue. However, the recent crisis has highlighted even more how having a sound succession plan in place helps anticipate ownership and management issues when these become inevitable.
The Covid-19 crisis has encouraged many families to think more about the meaning of their giving, revisiting their strategy accordingly. This guide we developed in collaboration with Lansberg, Gersick & Associates offers a framework of questions and recommendations that you might find useful.
FAMILY BUSINESS GUIDANCE ON COVID-19 SUPPORT AVAILABLE
If you'd like guidance on Covid-19 support available for businesses and how to access it, please visit this page.