Member Article

Lancaster University Management School to support the family business sector

Lancaster University Management School’s Centre for Family Business is to launch a new programme to support the family business sector, off the back of research carried out by the university.

71 per cent of UK SMEs are family businesses and they employ more than 9.2 million people, contributing £1.1 trillion to the UK economy.

The 10-month-long programme is aimed at current or future leaders of family firms.

Taking into account the complexity of the family business dynamic the programme focuses participants on problems within their business and helping them to move the business forward with input from their peers.

The programme will also explore ideas such as how to go about bringing in external management teams as alternatives to family members to run the business.

Jacqui Jackson, head of family business engagement at Lancaster University Management School, said: “Family businesses have unique goals that stem from the influence of family and they also have distinctive strategies and managerial practices.

“Sometimes, these distinctive traits correspond to unique strengths and competitive advantages, but they can also cause severe organisational disruption that can cause significant problems within family businesses.

“Lancaster University’s new Leadership for Family Business programme aims to support decision-makers in family firms so they are prepared to meet those challenges.”

The programme, which has begun recruiting, will begin in October this year.

This was posted in Bdaily's Members' News section by Ellen Forster .