Having returned from the National Family Business Conference, September provided an opportunity to reflect on the content provided by international speakers who shared some great stories of family business continuity. One of the highlights was a presentation by Kirsten Grant Meikle of William Grant and Sons, who have been producing Glenfiddich whiskey since 1887. If you missed out on attending the conference you can view this presentation online, however the Whisky tasting was only available at the conference! I am so proud that FBA continue to provide education and support to assist our Australian family businesses so that they can aim to achieve this kind of longevity.
There is no doubt that the economic climate in WA is resulting in many businesses looking for ways to improve profit margins, build a strong business to survive the downturn, seeking out ways to stand above their competitors and even take a longer term approach for the sustainability of the family business. With this in mind we have provided some great opportunities for working on these issues in a positive and focussed way.
Working with KPMG and the team from Disruption Associates we will be providing a ½ day workshop, Disruption Through Innovation on the 6th of November to learn about how disruption through innovation affects family business, and importantly how you can avoid being the victim of a disruption or even better become the disruptor!
It could be said that all research conducted on the sustainability of family enterprises will highlight the importance and the necessity of succession planning, to view succession planning as a journey not an event, and that it is imperative for family businesses to take the longer view to strategically plan both leadership and ownership transition. This sounds easy until it comes to having those difficult discussions with family members, or identifying the next leader, and what if there isn’t a family member to take over the business? FBA has identified that this process is easier when done with support, information and guidance, which is what the Family Business Planning for Succession workshop provides. Being run in Perth on the 5th of November this one day workshop will provide you with a one page roadmap for you to begin your journey with, to help you identify your destination and help you stay on track.
WA State Manager