In the latest installment from our Covid-19 video series, we're joined by Billy Andrew and Mark Bradford from Family Business Solutions to talk about the challenges facing the UK's family businesses and how they can keep their business vision strong during these uncertain times.
How family businesses are currently coping – and some key guidance from the experts
Family Business Solutions have been helping many small businesses navigate through these new and uncertain times right from the start – so, naturally, our first question to Billy and Mark was to find out more about that. What exactly are they seeing within the family-business community – what challenges and common themes are coming up, and how are they advising their clients through this time...
Within the same theme, we were curious about how Billy and Mark have noticed how family businesses are changing in response to the Covid-19 situation.
And, of course, with many people now needing to juggle even more than ever before – we asked our experts to share their views on the need for bringing outside views into businesses to spark imagination, guide, steer and provide fresh ideas...
Challenges and leadership dynamics
At the best of times, leaders of small businesses have daily challenges – big and small. But now, with Covid-19 impacting on so many aspects of our day-to-day, leadership of family businesses is likely to involve even more challenges and needs for adaptation than ever before.
To understand more about this, Billy and Mark shared the kind of themes they're noticing and what the suggest as being key in making these challenges have less of an impact...
Making decisions and maintaining perspective
Decision making when running a family business – indeed, any small business – isn't something that's likely to slow down during these times. But the type of decisions we're making are likely to be different to what we'd usually be making day to day.
It's also important to maintain perspective and look after emotions within a business – and this can be a real challenge within a family business.
In the videos below, Mark and Billy share their views, experience and expertise on these 2 themes respectively.
Moving forward as a family business after Covid-19
Even with the uncertainty of the current situation, it's vital that all small businesses start thinking about their plans in a post-Covid-19 world. But how, exactly, is perhaps not easy – so we asked our experts to share what they're currently advising their family business clients to do when making their plans for resuming business as normal.
Expert advice for family businesses
To round of our expert Q&A, we asked Billy and Mark to share any extra words of wisdom for any family businesses needing support during this time...
Further resources for family businesses needing support in a Covid-19 world
Thanks again to both Billy and Mark for sharing such valuable information and wisdom with us, so we can share it with those who need it most. If you need support with any family business matters affecting your business – whether because of Covid-19 or not – let us know and we can put you in touch with the excellent team at Family Business Solutions at a time to suit you.