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Family run businesses enjoy greater flexibility

Aug 17 2007

Family run enterprise is a rarity and enjoys a uniquely flexible position in British society, an industry expert has claimed.

The Scottish Family Business Association maintains that the family run business is certainly in decline but, due to its adaptability it can hold advantages over other small firms.

As long as potential family conflicts can be overcome, the enterprises can bring great benefits, as Martin Stepek at the Scottish Family Business Association points out: 'Starting, leading and working in a family business can bring valuable benefits compared to other businesses - from greater trust between staff to increased flexibility.'

However, on a cautionary note he adds: 'Without careful management there can also be problems - from poor communication to clashes over pay.'

According to a report by Tenon Forum, small and family run businesses lead the way when it comes to corporate social responsibility (CSR).

Some 71 per cent of enterprises with a turnover of less than £1 million claim that CSR is vital to the community.

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