3 minute read
FAMILY BUSINESS AUSTRALIA
Set your family business up for future success
Do you work with family members, brothers, sisters, cousins or Mum and Dad? Well, you’re not alone! Did you know that in Australia and New Zealand, family businesses account for about 70% of all businesses and employ about half of the workforce?
While the past 18 months have seen some success stories, many family businesses around the nation and the world have been challenged, not just in running a business, but in managing family dynamics where you cannot leave work at work. The breakdown of family dynamics within family businesses is common, given the complex relationship between love, money and power.
5 tips on managing family dynamics:
1 Actively manage family dynamics with communication and established rules and structures to work within. 2 Focus on family at home and work at work, and where possible, try not to blur the lines. 3 Establish communication boundaries and ways to deal with conflict. 4 Never assume that people have the exact expectations as you – set goals together. 5 Clearly define roles for all family members in the business.
Family Business Australia (FBA) has served families in business for more than 23 years and Family Business New Zealand (FBNZ) for just over two years. With more than 3,000 family business members collectively, they understand the unique experience of families in business like no other organisation.
As the peak bodies for family businesses in each country, FBA & FBNZ tailor solutions to family business members through facilitating and engaging resources and channels that promote success and foster sustainability. Their resources, events, courses and conferences are developed to build stronger families and healthier businesses that transition for generations.
SSAA Members
Special Partnership Offer
The SSAA is proud to announce it has renewed its partnership with FBA & FBNZ to offer further support to all the family-owned self storage businesses.
“FBA & FBNZ are experts in helping businesses of all sizes plan for the future. Thanks to their support, we’re on the best possible path to ensure we continue to thrive.” Angus Kennard, Kennards Hire
A free Family Business Essentials workshop is part of the Emblem Membership.
Now is the time to invest in the future of your family business. For SSAA members, FBA & FBNZ are offering an Emblem Membership with the following additional benefits: l A free discovery session that will help to identify areas of your family business that require attention and develop strategies and action plans to move forward l A free Family Business Essentials workshop l All Education courses at discounted member prices
SSAA members can register for the Succession Planning for Family Business course or the Financial Essentials for Family Business Course at member prices, saving over $990.
FBA & FBNZ’s Planning Succession for Family Business course will provide you with the necessary hands-on tools to begin establishing a succession plan. Learn the different options for both leadership and ownership transitions. Learn to make better strategic decisions for your family business by gaining a deeper understanding of your business finances with FBA & FBNZ’s expert online course – Financial Essentials for Family Business.
By joining as an Emblem Member, you’ll get access to several benefits for only $264 per annum. All this for less than a coffee per week.
According to the 2019 Edelman Trust Barometer, in Australia, 52% of people trust businesses, while this increases a huge 23 points to 75% for trust in family businesses. Make sure you are giving your business every chance to stand out from your corporate competition. With an Emblem Membership, you’ll get access to the licence for the ‘A familyowned Australian business, or the ‘A family-owned New Zealand Business’ emblems, which you can proudly display on your family business’s packaging, signage, website, marketing collateral and more. l
Sign up as an Emblem Member today and gain access to all the benefits mentioned above. Australia: www.familybusiness.org.au and use SSAA as the referrer or call 1800 249 357 New Zealand: www.familybusiness.org.nz or call 0800 249 357.
