Family firms offered helping hand

The centre, which is based at the university with the support of Grant Thornton, will offer family companies information and advice and will provide a meeting place for entrepreneurs.

Attendees will be given help on a range of business issues, with particular focus on the unique challenges of running a family firm.

Grant Thornton will run a variety of programmes on tax matters such as planning, auditing and conflict resolution.

Regular networking event will take place, while keynote speakers will also feature.

The centre is hoping to tap into the large family business community in the UK, which makes up a large proportion of all small businesses.

Family businesses have faced particular tax difficulties over the last year, with the Inland Revenue warning ‘husband and wife’ firms that they could be prosecuted for tax evasion if the partner with the lowest requirement pays all the tax.

John Tucker, of Grant Thornton, said that in family businesses, relationship when it comes to developing a business strategy.

“Our professional advisers are skilled in identifying the overlaps and potential conflicts between family, ownership and management goals and can help to find solutions tailored to meet the needs of each family business and the stakeholders in that business.

“The creation of the centre adds further to our expertise as a leading provider in the field of family business in the UK,” he said.

For more information on the centre, go to www.glos.ac.uk