A Family Run Business With Family Values

Family has long been the backbone of our culture, so when it comes to starting a business it’s only natural that many choose to do so with their family members. A December 2017 article by Hazel Davis, published on virgin.com, revealed that 71% of family businesses were feeling confident in their business prospects for the next year, suggesting a positive economic stance is on the cards for many family-owned firms. But what factors should be considered before beginning a business venture with your kin?

Established in 1971, Stafffinders has made its mark on the recruitment scene and now boasts two offices in the heart of Paisley and Edinburgh. Forty-nine years after its establishment, Stafffinders remains a family-owned recruitment firm, with our current Managing Director Jane Wylie-Roberts succeeding her father in 2006. Our family roots are a core part of our identity, and most importantly part of our values. We pride ourselves on our personal approach and want both clients and candidates to know they are in safe and friendly hands. Covering over thirty divisions, it could be easy to get overwhelmed, but not at Stafffinders. Our expert consultants have a strong background in the industry for which they recruit for, meaning they have invaluable knowledge, experience, and sensitivity. Most importantly, they know exactly what you’re looking for and are committed to providing the best possible service.

Starting and leading a family business brings with it a variety of advantages and disadvantages. On one hand, its great to be surrounded by those closest to you when taking on an exciting – and often risky – new venture such as starting your own business. Making a business family-based can often guarantee a higher level of commitment than hiring out-with the family. There is often a sense of strong solidarity and trust – being so closely tied means that family businesses are likely to stick together, particularly through difficult times. Carrying the business through to new generations not only keeps the family ties alive, it can also keep the business in line with the times with new ideas from the younger members of the family.

On the other hand, there are also certain disadvantages facing family firms. As with any business venture, there is of course the potential for conflict. Add to this a team of family members, and things could get complicated – home conflicts could be brought into the office, and vice versa.  Arguably the largest obstacle a family business will come face-to-face with is the issue of succession. Without effective succession planning, or a leader’s unwillingness to step down from the top spot, the business can put itself at risk of failure, with less than 10% of family businesses surviving into their third generation. A solid succession plan is therefore crucial in maintaining and extending the firm’s lifespan.

At Stafffinders, we have committed ourselves to embracing the positives in order to overturn the negatives surrounding the risks posed to family businesses, making us one of Scotland longest standing recruitment agencies. Successfully steering the business through the succession process, Jane’s direction has allowed the business to further evolve and keep up with the times. We are incredibly focused on keeping up to date with the latest technology in recruitment and aim to use our online hub as a method of taking our timesheet system completely paperless in the very near future.

The hard work that goes in to maintaining a successful family business is substantial, but it certainly pays off. This makes the work of organisations such as Family Business United incredibly important, in acknowledging and rewarding the passion behind family businesses, and bringing the innovative community together.