Family-owned printers could be in better shape than big print groups if the outcome of a recent study is anything to go by.
The report from the Imperial College Business School, Leeds University Business School and Durham University Business School also found that family businesses are more stable than big corporations.
"The researchers found that family businesses were less likely to go bankrupt because they are able to recruit and maintain an experienced, diverse and knowledgeable board of directors," said the report.
"The team found that these boards also ensure that family firms, which often have to rely on internal sources for financing of projects, are more frugal in their spending. They scrutinise business opportunities with greater intensity and take fewer business risks than private firms."
The report said that "family-orientated goals" such as preserving wealth and employment for family members may also make family businesses more sustainable.
Family boards also have wider skill-sets due to their better gender balance, according to the report.
Professor Mike Wright from Imperial College Business School said: "Family businesses could provide lessons to larger firms, as our findings show that a more diverse and experienced board of directors, which are prevalent in family firms, could be related to reducing failures in businesses."
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Could have something to do with the fact that most of the smaller family operators are tradespeople and have much industry experience and knowledge, not just boardroom seat-warmers, accountants and speculators with other peoples money.
When your “cock is on the block” so to speak, one takes a lot more care with decisions, one works a lot harder and worries about the day to day decisions and spending of the business – simple really.
Companies with boards of directors spend too much time on reporting what happened and not on what we need to do today and tomorrow!