We are excited to announce that we will be attending and exhibiting at The Great British Family Business Conference on Wednesday, 19th March. The Great British Family Business Conference brings together family businesses from across the UK, provides an excellent platform for networking, knowledge sharing, and exploring solutions for the sustainability and future of family-owned businesses.

Family businesses have long formed an important part of the UK economy, spanning multiple generations and sectors. However, as owners approach retirement, the question of succession becomes increasingly important. Employee ownership presents a sustainable and attractive alternative for families looking to preserve their legacy while ensuring their business thrives for years to come. With changes to inheritance tax (IHT) reliefs set to take effect from April 2026, now is a crucial time for family businesses to explore succession options that align with their values and long-term aspirations.

Family business owners will often have spent their entire careers nurturing and growing a business that reflects the family’s values and reputation – it’s their name above the door. They will rightly want to protect and extend that culture and legacy. The business may have been supported by the hard work and commitment of both family and non-family employees; and family owners will be motivated to protect the employees, customers and often local communities that have contributed to business sustainability and success over many years.

For family owners considering what happens in the future, an employee ownership transition allows the business legacy to be preserved and extended by the people who know the business best – its employees. It can fulfil the key succession objectives of many family business owners:

• the culture and values that underpin how the business is run will be retained
• a fair return on the family owners’ investment in the business, providing the family with financial security
• continuity and independence of the business is secured for the long term
• job security for employees
• family members can have the opportunity to work in the business in the future
• if the family wishes, they can have continued family ownership in the future
• business owners and their families can choose to invest collectively in other assets such as other business activities, or if family members have other aspirations, to consider non-business investment opportunities to preserve and grow their capital

Introducing non-family owners is a big step for any family business but unlike other non-family succession options, employee ownership allows the unique culture, vision and values of the family business to be preserved. An Employee Ownership Trust (EOT) can buy shares from family shareholders for the benefit of all the business’s employees, whilst allowing them to retain a stake and/or a say in the future direction of the business, causing minimal disruption to the operations and management of the business. Business continuity is secured for the long term while allowing the family to extract its capital and plan for a future that’s financially secure independent of the business.

Succession is inevitable, but it’s surprising how many people put off thinking about it until very late in the day. With so many family businesses facing transitions over the next few years in a tax environment where transferring shares on death is becoming less attractive, it’s essential that family business owners know all the succession options available to them, so they can find the best way forward for themselves, their businesses, and their families.

Here at Baxendale Employee Ownership, we have worked with many multi-generational family businesses, securing ownership succession in a way that addresses the above key succession objectives diverse priorities. For some family ownership, protecting the employees and securing the values and legacy of the business was the top priority; for others there will also be a continuing long term relationship between the founding family and the business.

Come find us at our stand at the Great British Family Business Conference if you would like to discuss any of this further with us – our team are always happy to have conversations about what your options could look like, with no strings attached!