MPs Give Support to Family Businesses (Cheltenham Liberal Democrats)

Cheltenham Liberal Democrats <info@cheltlibdems.org.uk>

MPs Give Support to Family Businesses

October 13, 2006 11:00 PM

Cheltenham MP, Martin Horwood and shadow chancellor for the Liberal Democrats, Vince Cable have given their support to the work of the unique International Centre for Families in Business (ICFB) based at the University of Gloucestershire.

The MPs engaged in a discussion with experts and managers about the significant contribution that family-run businesses make to the local and national economy, and the unique difficulties faced by owners of family companies.

Roman Cooper, managing director of Allcoopers Limited, Michael Carter of E G Carter & Co and Peter Badham of Badham Pharmacy were amongst the group, who met to discuss with the MPs the specific problems faced by those managing family businesses, such as succession from one generation to the next and the need for specialised training.

"Only 30% of family businesses survive in the ownership of the same family past the end of the second generation," said ICFIB director, John Tucker. "Recognising the often devastating impact on, not only the families themselves but on employees, suppliers and others directly and indirectly associated with the business is a concept which is not taken on board by any political party. Clear statistical data is available about failure in succession and generational transition, and this needs to be recognised and addressed as a political issue as a matter of urgency."

"It was clear to me, and I am sure to Vince too, that the Centre offers a unique insight into the problems faced by family businesses, and is a hugely underexploited approach to tackling them," said Martin Horwood.

"By helping the most dynamic sector of the economy, I think that the Centre's work could have huge significance well beyond Gloucestershire."

Academics at the Centre are keen to explore possible research interests in the field of family business that could inform government policy, particularly on education and training.

The International Centre for Families in Business was established in January 2005. The MBA Family Business and the Post Graduate Certificate in Family Business are unique to the University of Gloucestershire. More information can be found at www.icfib.com