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Changing times for family owned businesses
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ife has changed. Many family businesses are doing ok, some are struggling, some are pivoting and others are diversifying. Everyone’s story varies as to how they are managing with the fallout of COVID-19 – remote working, reduced capacity to have employees working in one close environment, other places closed for a significant amount of time. Now, more than ever, families and family business need support. The Government has certainly jumped into supporting family enterprises during this global pandemic. Since July 2019, the Self Storage Association of Australasia (SSAA) has been in partnership with Family Business Australia (FBA), giving SSAA family business members in Australia and New Zealand the opportunity to become Associate Members of FBA. Family businesses are unique in that the underlying family relationships, belief systems and values underpin business decision making and direction. Family dynamics and priorities often influence what would otherwise simply be financial or business decisions One of the greatest challenges for families in business is trying to get families on the same page in terms of vision and expectations. This requires very specialised expertise in identifying communication blocks and facilitating effective communication. Often there are competing interests and perspectives to navigate through. The membership aims to provide SSAA family business members with another level of support,to ensure both the business and the family are working together in a way that benefits all parties involved. Greg Griffith, CEO of FBA said “This partnership means FBA can support and add value to SSAA members, but more importantly it means we have a partner that we can share our service offerings with, to a sector that will truly benefit from what we do”. For over 22 years, FBA has been supporting families in business to
www.selfstorage.org.au
UPCOMING COURSES AND WORKSHOPS FOR SSAA MEMBERS Family Business Essentials (online) August 2020 and February 2021. SSAA members receive complimentary attendance for one family member. Planning Succession for Family Business Course (online) October-November 2020. SSAA members are eligible for a 10% discount.
see them thrive and prosper through generations. FBA delivers a series of education and professional development programs and provides access to specialised advice and an invaluable support network of like-minded people with similar experiences. As an Associate Member, you will gain access to the ‘A family-owned Australian business’ Emblem, receive complimentary attendance at FBA’s Family Business Essentials course for one nominated member from your
business and Meet the Owner events, plus a wide range of exclusive memberonly benefits. FBA serves over 3,000 family business members and advisors and understands the vital role they play in the global economy. Their main aim is to empower family owned businesses and provide the tools necessary to thrive in the future. l
For more information email membership@familybusiness.org.au, call 1800 249 357 or head to familybusiness.org.au
AUGUST / SEPTEMBER 2020 INSIDER 114
