Family business - Mazars - United Kingdom
Family business
Businesses are all about people. Nothing demonstrates this more than the family business.
As an outsider looking in, sometimes decisions made in family businesses can seem illogical or even uncommercial. The sense of these decisions can only be interpreted and understood when one spends time with the family and takes a holistic view of the business being run, the people running it and the individual objectives of all the parties.
Where profit, growth and three year plans are usually found at the heart of the non-family business, concepts of stewardship, fairness, opportunity and the long term are often the mantra of the family business. That is not to imply that making money doesn't matter. It most certainly does. It is, however, often considered on a mouch longer-term basis that in other businesses where third party pressures can direct decision making towards shorter term actions.
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Providing you have a well defined remuneration plan, there is no reason why a family business could not attract a highly qualified and experienced executive and retain them.
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