Family Business Association News & Articles keep up to date on all news.
Planning can be exciting and fun to do. In 2019 around 38% of Australians made plans to renovate their homes. In June 2020, 2.2-million Australians were planning a post-pandemic overseas holiday. If planning is enjoyable then why do so many Australian business owners fail to write or refine a formal business plan?
Let’s look at some of the things that world-leading family businesses do to keep things clear & achieve the best results. The best family businesses have clearly defined & separated their family from the family business & ownership of family assets.
The Supreme Court has issued its decision in the long-running Mainzeal directors’ dispute, awarding judgment in favour of Mainzeal's liquidators and ordering the directors to pay $39.8 million. The decision not only concludes a long-standing legal battle but also provides guidance for directors from NZ’s top court.
Every September, Australia and New Zealand celebrates National Family Business Day – a day designed to recognise the significant contribution family businesses make to the Australian economy, community and culture. This year, National Family Business Day will take place on Tuesday, 19 September 2023.
These days, we seem to take technology for granted. It has become so intertwined in our daily lives, that we simply assume everything will just work and that there’s no need to worry about what’s “under the hood”.
The Victorian Small Business Commission (VSBC) has developed new guidance to help retail tenants prepare for the end of their lease. By taking practical steps, you can ensure you meet your responsibilities, avoid running into issues and focus on closing – or relocating – your small business.
Could your business continue if one of your most important people suddenly dropped out of the team due to illness or injury? Family businesses may have informal role structures but whatever your style you need to have a succession plan in place – and the insurance cover that supports it. Are you prepared for the unexpected when it comes to the loss of a key person?
Succession planning involves much more than deciding who takes over when you retire. A thorough succession plan, agreed on by everyone involved, can help propel the future success of your family as well as your business, says ANZ’s Dan Murphy.
Your home, contents and motor insurance premiums are likely to increase substantially this year as insurers raise premiums in response to cost pressures. We have already seen some insurance companies implement pricing increases this year and we expect this trend to continue for the remainder of 2023.
Family Business Association (FBA) has appointed a new Chair, Angus Kennard and CEO, Catherine Sayer, replacing outgoing Chair, Mark Kagan and Acting CEO, Andrea Moody respectively.
Does your company have a purpose, a vision, and accompanying values? As a business owner you know what your company does, but do you have a clearly stated purpose about why you do it – the values and behaviours that you and your whole team understand, embrace and live by?
Business Action is focused on helping Entrepreneurs lead better lives, through creating a better business. We have a small team of accredited family business advisors, EOS Implementers & Leadership coaches, as well as access to a huge range of advisors through our Trusted Partners Network.
Every September, Australia and New Zealand celebrates National Family Business Day – a day designed to recognise the significant contribution family businesses make to the Australian economy, community and culture. This year, National Family Business Day will take place on Tuesday, 19 September 2023.
Family Business Association (FBA) has appointed a new Chair, Angus Kennard and CEO, Catherine Sayer, replacing outgoing Chair, Mark Kagan and Acting CEO, Andrea Moody respectively.
Another successful Family Business Conference has come and gone. It was great to see so many attendees connecting and enjoying the wonderful stie visits, events and speakers throughout the conference. We hope everyone who joined us learnt lots and got some invaluable knowledge around legacy building.
Awards from the Wellington business community are a far cry from what started as a ‘weekend hobby’ in 2013. Former lawyers Roman and Andrea Jewell started making jars of their now-famous range of spreads on Friday nights to sell on the weekends at local farmers markets in Wellington...
Chad Gates, Managing Director of Pronto Software, was invited to deliver a welcome address at the recent Family Business Conference 2019. Here are excerpts from his presentation.
Amidst the volatility that has characterised markets for much of 2022, ANZ Private recently hosted client events across Australia.
“There are so many things that can go wrong in a kitchen, and just as quickly as you make money, you can lose it. Having that security blanket in place is super important...
Raymond together with his wife Rosemary were FBA life members and Raymond was instrumental in the origins of Family Business Australia...
So you want to improve the profitability of your business but don’t know where to start?
Here at Brands of Kin we are rather partial to good food, and even more so to a story of a generational family business...
The Circular Revolution backs the movement towards a circular economy in Aotearoa...
The mental health aspect of workplace health and safety is subject to increased focus by regulatory bodies such as Safe Work Australia and the Fair Work Commission. Currently businesses are legally obliged to take all reasonable steps to ensure the health and safety of their employees by eliminating or minimising risks and taking steps to prevent harm to workers. In this article the Gallagher Workplace Risk team provides risk management guidelines for businesses to meet future legislative expectations.
Maude Wines owner and winemaker, Dan Dineen, is pragmatic about the various risks commercial winemakers face at every step of the growing, producing and transporting process...
Inflation rates are at record highs in developed economies around the world and are not only devaluing the dollar but also potentially...
A family trust can often be the right vehicle to carry on your family business and manage family wealth...
Would your assets end up in the right hands if you passed away suddenly?
Building and maintaining your brand these days can begin and end with your online presence...
If you’re a leader looking for the best ways to give constructive feedback, you’re in good company...
Leaders are the backbone of a family business...
I recently visited and observed a once vibrant and profitable business that had descended into mediocrity...
Something that sets family businesses apart from others is a focus on family values...
CONGRATULATIONS to the 2022 winners of the Family Business Excellence Awards...
The days of male-line primogeniture (where the eldest son inherits the entire estate) are waning, as a result of generational shifts in attitudes...
The family business is the greatest financial asset owned by the family and starting a divestment process can be quite daunting...
A recent series of property and construction sector forums hosted by Grant Thornton New Zealand provided insights into some of the biggest talking points across the sector.
More than ever we are in a war for great talent, the uncertainty of the last couple of years has left a lasting impact on the job market, with fewer candidates applying across all industries...
After a three year hiatus, the Women in Family Business Network (WIFBN) National Conference now called “Elevate Summit” is back on...
The year is 2030. I’m sitting in my home office in an apartment that’s ironically located in what used to be an office building...
Few businesses in New Zealand can claim to have as prestigious a history as Partridge Jewellers. Family-operated since the 1800s, with the sixth generation now working in the business, it is a veritable dynasty —a fact that isn’t lost on its current leader, Grant Partridge...
Family businesses in Australia have outperformed other organisational models in riding out the disruptions caused by the COVID-19 pandemic, due to...
Small and family business employers may not be aware of stringent record-keeping obligations under the Fair Work Act 2009...
South Australia’s Industry Leaders Fund has opened its 2022 study grant scheme...
A recent case has provided a detailed analysis of the law on mutual will agreements and its effectiveness as an estate planning tool in modern blended families...
Most owners think they are doing a great job in IT, but in reality, a hidden problem looms silently, until one day it all comes crashing down
With cash looking set to deliver negative real returns in the years to come, savvy investors are seeking alternative opportunities to achieve diversification and growth within their portfolios...
Governance in a public company is challenging enough.When Governance is working within your family business, family members and all people working in your business are clear about...
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Only about 3% of all family businesses operate into the fourth generation or beyond...
We have all heard the statistics that 70% of wealth transfers to the next generation fail. When this moves past 2nd generation and into the 3rd generation and beyond, this failure rate is above 90%.
Dracula's Cabaret Operations and Production Manager, Luke Newman, gives his personal insight into the pros and cons of working in a family business in the interview below...
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Family businesses are also made up of two components: 'family' and 'business'...
As the response to many recent crises has demonstrated, Australians are a generous bunch.
Bennetts Steel General Manager, Shiree Bennett, gives her personal insight into the pros and cons of working in a family business in the interview below...
ntrepreneurs are by nature innovative, creative, and risk takers. But, not all entrepreneurs are successful business owners...
Insurance is crucial for small businesses as it provides valuable support for many potential negative impacts and can represent the difference between survival or closure in crucial times...
An enduring power of attorney allows a person to appoint someone they trust to make decisions about their personal, health or financial matters at...
Birdsnest founder, Jane Cay, gives her personal insight into the pros and cons of working in a family business in the interview below...
