Lancashire’s family businesses have the chance to drive their companies forward and find solutions to challenges that stand in their way through a new scheme led by Lancaster University Management School.
Family Business Excellence is a six-month programme for family firms looking to develop productive and sustainable strategies that will serve future generations.
It provides access to the expertise of the Lancaster University Management School Centre for Family Business, and includes workshop and residential sessions, as well as a visit to a regional family firm, and masterclass sessions delivered by expert speakers.
The fully-funded programme is supported by the European Regional Development Fund, and delivered with Boost, Lancashire’s Business Growth Hub.
It follows a successful four-month pilot scheme last year. Programme manager Matt Hutchinson, from LUMS, said: “There are so many challenges that arise from mixing business with family. Through years of research and engagement with global family businesses, the Centre for Family Business has developed a deep understanding of these issues, and how to tackle them.
“The new programme is based on academic theory, but is accessible to all and is firmly-grounded in the reality of family-run small and medium-sized businesses. It will give these firms the opportunity to explore the challenges they face, and the ability to put plans in place to drive them forward into a successful future.”
Dr Giovanna Campopiano, director of the Centre for Family Business, who will lead the academic theory aspect of the programme, believes leaders of family firms need to take the time to address the challenges facing them. She said: “Time out of the business is so critical to ensuring that family work together for the benefit of the business, building a culture of communication and change.
“At the Centre for Family Business, we focus on research related to growth, innovation and business practices.”
The Family Business Excellence Programme is available to ERDF-eligible Lancashire-based SMEs. Senior decision-makers of qualifying businesses are invited to apply for a place, and can contact Jane Hunter on 01524 593632 or email firstname.lastname@example.org for more information.
To sign-up for the taster event, visit www.lancaster.ac.uk/lums/fb