Miles Davies FCCA, is the Managing Director, Family Enterprise Practice at KPMG UK. He helps families and family businesses achieve their strategic ambitions.
Why should a family business recruit non-family talent, and in particular a non-executive director? The answer lies in three areas—fresh perspectives and breadth of experience, independent oversight and constructive challenge, and performance.
The Chancellor laid out a supportive package of measures to help businesses, while having one eye on a longer-term plan to balance public finances. Despite recent speculation about changes to Inheritance Tax, Capital Gains Tax, and the introduction of a Wealth Tax, the current thresholds have been maintained for the time being.
These are unprecedented and unpredictable times for family businesses of every shape and size. Whilst many are in survival mode, others may have started to consider the future, rethinking what their operating model looks like.
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