Talking Point: Alive and kicking
Employing in the region of 9.5 million people, family-run and owned businesses contribute more than 30 per cent of UK GDP. However, businesses under the management and ownership of one family for several generations are often lauded for their strong family values, but are rarely considered as trailblazing for the economy.
Indeed, discussions about entrepreneurship and innovation don’t often include acknowledgement that amongst the most market-leading UK businesses are those founded and run by succeeding generations of one family. Many simply believe that family businesses don’t in fact ‘qualify’ for these types of accolades or descriptions. As someone running a family business that has been committed to innovation since 1913, I feel it’s time to change this perception and give family businesses the recognition they deserve.
This was one of the aims of the Midlands Family Business Awards, which we launched this year and which Wilsons is underwriting. In my opinion, these Awards have proved that innovative family businesses are alive and kicking across the Midlands.
To put it simply, we have been overwhelmed by the level of interest in the awards and hugely impressed by the exceptional standard of commitment, drive, tenacity and yes, innovation, shown by the entrants to the awards.
Over 120 family businesses entered the awards and the shortlist included forty of the region’s most progressive and enterprising family businesses, such as Nottingham’s Hardstaff Group, Leicester’s Anand International, Chesterfield’s Penny Hydraulics, Whittaker Office Solutions of Loughborough, Birmingham’s Perfection Foods and Scotts of Thrapston in Northamptonshire, to name but a few.
The judging process is now complete. It has been an amazing experience – to meet with a group of individuals, all leading a family business, who without exception possess a clear passion for their businesses and take enormous pride in the fact that they are part of a family run enterprise.
Innovation has been a key theme throughout all our judging discussions; our panel of judges was bowled over by the passion, drive and entrepreneurial spirit of the family businesses we met.
All our judges are pre-eminent business leaders in their own right, mostly with first-hand experience of just what it is like to run a successful family business - James Timpson, MD, of Timpson, Tim Storer, MD of Pukka Pies, Peter Thornton, former Chairman of Thorntons plc, Judy Naake, founder of St Tropez, Carrie Rubin, Director of Pentland Group, Mark Samworth, Samworth Brothers, John Maclean, president of John Smedley, Shahid Sheikh of Clifton Packaging and the Institute of Directors, the Duchess of Rutland, Grant Gordon of the Institute of Family Business, and Alistair Wesson of RSM Tenon, the Awards’ headline sponsors.
Peter Thornton led the panel judging the Overcoming Adversity category and commented: “All candidates were of a very high standard. All had dealt with considerable difficulties caused by sudden changes in the business environment and came through with remarkable success. The resilience and innovation displayed was typical of the values of the family business sector.”
Mark Samworth said of the finalists in the Personal Excellence category: “All finalists have an obvious passion for their business and their customers, which made a real commercial difference, demonstrating why customers are so loyal to family businesses.”
Whilst Carrie Rubin, after judging the Business Innovation category, said: “The calibre of nominees has been very high and I know I speak for all the judges when I say it was very challenging and tough to judge this category.”
Her views were echoed by fellow category judge Shahid Sheikh of Clifton Packaging: “The quality of the finalists was exceptional. The finalists were very special indeed and brought a wealth of innovative ideas which were captivating and exciting.”
By turning the spotlight on the wealth of talent, commitment, inspiration and yes, innovation, amongst our region’s family businesses, perhaps the awards will indeed contribute to shifting perceptions. Perhaps too, the enduring contribution family businesses make to the economy will be acknowledged. Perhaps we will at last be seen as innovative and innovators.
The Midlands Family Business Awards’ is a not-for-profit venture, with all proceeds going to charities supporting young enterprise and young people - The Children’s Society, The Willow Foundation and The Venture Foundation. All winners will be announced at the Awards’ dinner at the family-run Thrumpton Hall near Nottingham on 11 November.
Charlotte Prow, managing director of The Wilson Organisation
