Adam Dowdney, partner and corporate and commercial law expert, writes in The Business Magazine. The article provides advice for family business looking to grow and add value in a competitive work place. The corporate and commercial team at IBB Solicitors works with many family-run businesses trying to balance the challenge of looking to provide decent returns for the current owners with a desire to see their legacy continue into the next generation. Contact our corporate and commercial law experts today To speak to one of our corporate or commercial solicitors please call us today on 01895 207973 or email corporate@ibblaw.co.uk. Alternatively please visit www.ibblaw.co.uk/service/corporate-and-commercial for more information on how we can help you with succession planning for your business. Other links: How to register a business http://www.ibblaw.co.uk/service/corporate-and-commercial/business-structures-and-joint-ventures How to buy a new business, sell your business or merge organisations http://www.ibblaw.co.uk/service/corporate-and-commercial/acquisitions-mergers-and-disposals How to create a franchising agreement http://www.ibblaw.co.uk/service/corporate-and-commercial/franchising How to create a share optin scheme http://www.ibblaw.co.uk/service/corporate-and-commercial/share-option-schemes

1. business focus
Whiletheneedtosteerpeople
andorganisationshasnever
beengreater,HRcontinuesto
underinvestincapability-building,
andthegapbetweenwhatwe
needtodeliverandwhatweare
abletodeliverwidens.
Since2005,Henleyhas
supportedHRthroughresearch,
eventsanddevelopment
programmes,includingthe
AdvancedHRBusinessPartner
programme.
Nowweofferaseriesoffour,
one-dayprogrammes,spanning
today’schallengesofHRvalue
creation:businesspartnering,
talentandperformance,
organisationaldevelopmentand
strategicworkforceplanning.
HRbusinesspartners(HRBPs)are
nolongersimplygeneralistHR
managers;theylinkthecentre
ofabusinesstoitsconstituent
businessunits.Theymustbe
goodatHRandbeabletorole
modelacommercial,pragmatic
yetchallengingattitudealongside
stakeholdermanagementand
relationshipbuilding.
Theymusttalkthelanguage
oftalentandperformance,to
helpembedanddrivewider
organisationalapproachesto
talentatthelocalleveland
offerorganisationaldesignand
changemanagementsupport.
EXECUTIVEEDUCATION
henley.ac.uk/open
OPEN PROGRAMMES
BE EXCEPTIONAL. THE HENLEY WAY.
HR must invest in
capability to stay relevant
These are vital times for HR, writes Henley
Business School
Diana Richards
01491 418767
exec@henley.ac.uk
henley.ac.uk/hrmasterclasses
@HenleyExecEd
Sadly,though,manyHRBPsfeel
thattheyarenotequippedwith
thetoolstoacceleratetheirown
developmentinlinewiththis
need.
Therefore,Henleyhascreated
theEffectiveHRBusiness
Partneringprogrammes
(parts1and2);bothone-day
programmes,minimisingtime
awayfromthebusiness.
Part1coverstheskills,attitudes
andbehaviourscriticalto
establishingpartnershipand
credibility,whilepart2focuses
onmanagingtalentand
performance.
Incombinationwiththe
organisationaldevelopment
andstrategicworkforce
planningmasterclasses,these
programmesofferaconvenient
andpowerfulopportunity
forinsightanddevelopment,
availablesinglyorasaseries.
AtatimewhenHRfunctions
mustestablishthemselvesasa
fundamentalvaluepartnerfor
businessanddeliverpowerfully
againstthisproposition,HRhas
toupskillitselftoclosethegap
betweendemandandsupply.
Ifwecontinuetobethe
‘cobbler’schildren’ofbusiness,
theconversationsaroundour
valueandcostwillbecomeeven
morefrequentandpronounced.
legal spotlight
According to KPMG, family-
owned companies account
for two-thirds of all businesses
worldwide and generate more
than 70% of annual global
GPD. So they must be doing
something right.
So, what builds value in a family-
run business, while maintaining
the opportunity for well-
structured family succession?
Invest in the long term.When
there is so much political
uncertainty (eg Brexit) a family’s
business tendency to invest
more conservatively and build
robust business models is a
great asset.
Succession planning.
Occasionally, the younger
generation don’t want to follow
their parents into the family
business. Planning succession,
whether it is from within the
family or from outside, should
be done together, for the sake
of the family and their greatest
asset. Use third-party advisers
to provide impartial advice and
ask those difficult, challenging
questions.
Work together.Working with
relations can generate levels
of trust and commitment
not seen in other business
models, but it can also lead
to frustration, conflict and
resentment. Keeping head
and heart separate can make a
family business successful, but
ensure potential successors
have exposure to all relevant
parts of the business, so they
are properly equipped when
the time comes and ensure all
successors have the necessary
skills and commitment for the
job ahead.
Innovate. Embracing the online
market and simply researching,
testing and developing ideas
that help the next generation
engage with the business will
help to rejuvenate the whole
organisation.
Stick to your values. Even if
you are considering raising
finance through external
investors, banks orVCs/PE, work
with your advisers to find the
organisations that will help you
keep your values intact.
Whether your family business
is there for the next generation,
or is an investment that you
will one day sell to aid future
generations, you need expert
advisers around you. At IBB,
we take pride in understanding
what our clients need to get
done and what they want to
achieve. If you would like
impartial advice that focuses on
the positives, resolving problems
and finding solutions that
support the whole family, we
are here to help.
Adam Dowdney
adam.dowdney@ibblaw.co.uk
01895 207264
ibblaw.co.uk
Building value in a
family-run business
The corporate and commercial team at
IBB Solicitors works with many family-run
businesses trying to balance the challenge
of looking to provide decent returns for the
current owners with a desire to see their legacy
continue into the next generation, writes Adam
Dowdney, corporate and commercial partner
businessmag.co.uk 17THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2017