Midlands Family Business Conference – building a strategy for growth

Ahead of the BusinessDesk.com Midlands Family Business Conference we caught up with our headline sponsor and one of the speakers joining on the day, to discuss the key areas that will be addressed.

Alice Rees is a partner and solicitor at leading East Midlands law firm, Nelsons, and specialises in corporate services. She has acted for many family businesses in all phases of their journey, and here she describes the key elements to build a strategy for growth.

Knowing where you are heading and planning accordingly seems like an obvious focus for any business – but between the everyday operations and dealing with the immediate future, the long term can fall by the wayside.

Having advisors is a great way to get you thinking about where you want your business to be further down the line, whether that includes expansion through merger and acquisition, or thinking about ways to reorganise or restructure the business.

Achieving work/life balance

With family businesses, your work life is very often also your home life. This is an important area to recognise and address, perhaps looking at ways to set boundaries that help to keep the balance.

At Nelsons, while our work is often focused on the practical and legal aspects of business support, we also involve the holistic side too. This is especially important for family businesses and why advisors should seek to really get to know and understand the breakdown of the business.

Sustainability

Family businesses are in a unique position to drive the sustainability agenda. By their very nature, they take action to protect their family reputation and legacy through the business they have built, and so this makes them particularly well suited to lead the way on sustainability.

Whether there are new investments to be made that enhance the sustainability of the business, or you are looking to identify ways to meet ESG commitments, integrating this into your strategy is a good idea to keep on track for the future.

The family business of the future

While traditions run deep through family businesses, having an eye on the future is important to creating longevity. From digital integration to AI, we will discuss how businesses ensure they keep at the cutting edge of technology and build it into their plans to keep up growth momentum and stay in line with industry trends.

This may also include ways to build cyber resilience into your strategy to ensure your business is protected from the risks of online attacks, as well as data breaches that could impact customers or clients.

Join us

The Midlands Family Business Conference will take place on Thursday 23 November at Holywell Park in Loughborough and will highlight the unique place that family businesses hold in the Midlands economy.

The event will be fully interactive, giving every delegate the chance to shape the conversation through a panel discussion and a series of round tables – as well as featuring a high-profile keynote speaker.

For more information visit, click here.