The Telegraph, Yahoo! Finance and MSN have shared an article showcasing stories of next generation youngsters joining family businesses, a 12% increase since 2017 in the number of family members who work for SMEs. Hayden Bailey, Head of Private Client, is mentioned in the article commenting that family businesses “take a long-term view, which may be encouraging to the next generation.” He has also published research showing that family businesses tend to outperform the FTSE 100, generating higher revenues and reinvesting more into the business.
Contact the team at Boodle Hatfield should you need advice on either succession planning, or relating to the running of your business.