We are delighted to be hosting this Family Business Forum event at well-known and long established R W Stokes & Sons Ltd, Lincolnshire’s leading coffee roasters and merchants, at their new and exciting premises – The Lawn, Lincoln.
Stokes is a fourth generation family business now under the management of Nick Peel. In the last 18 months it has taken on a momentous leap into regenerating 'The Lawns' in uphill Lincoln. Nick started out in life as a dancer on cruise ships and moved into professional ballet dancing. In his mind this was always going to be his career path until the opportunity arose to take over the family business from his father. In the 12 years in running the family business he has successfully grown turnover by 221% as well as taking on a new £1.5m project. Nick will not only welcome all on the day, but will also provide us with an insight to the business, its past, present and future.
The theme for this Family Business Forum is the role of external investment and capital in a family business. Traditionally most family businesses are funded by the family directly or indirectly involved it in, with perhaps some conventional bank borrowing or a loan. However it is increasingly typical for family owned businesses to look at alternative and additional forms of finance to support growth, restructure and even the buyout of other family members or the acquisition of a competitor.
As you would expect the issue of such investment or the approach to dealing with it often has its own set of challenges for family businesses. These include the threat of loss of control, the need to perhaps offer security, relinquish shares and the need to consider the needs of the business and family. That is apart from the need to assess and ensure any such investment or funding can be serviced and repaid. Few businesses, let alone family businesses can disregard or not have a need for funding and investment in today’s commercial world.
With this background in mind we will then host a panel discussion – our panel of specialists will consider the need for investment, the options for funding and some of the pitfalls and challenges facing both family members and non family members involved in such a decision. The panel will also look at the views and approach by external investors in family businesses with particular reference to what investors look for and any variation in their approach between financing a family business and a non family business. The panel will consist of Neil Gray, Corporate Finance Partner at Streets Chartered Accountants, Paul Simpson, Corporate Solicitor at Andrew & Co LLP Solicitors, Russell Copley from Lincolnshire Investment Network and Andy Procter, Relationship Director at NatWest.
Delegates will also have the chance to interact in the panel discussion sharing their own experiences as well as seeking answers to any particular concerns or burning questions they may have.
11:30am Presentations and Panel Discussion (Q&A)
Please note this event is only open to family businesses. If you are involved in a family business and woud like to attend please email firstname.lastname@example.org to request a place.