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next gen

Kicking the habit

February 18, 2014

Working cheek by jowl with your family can be fraught with difficulty. Now there is a growing body of evidence to show that the family business environment can also be a big enabler of addiction problems in the heirs to the business. CampdenFB reports

There is no such thing as a stereotypical addict. Extreme wealth and an unhealthy penchant for narcotics have long been bedfellows, as proved by the slew of celebrities that check into rehab each year, but then again, addiction and poverty aren’t strangers either. It is almost impossible to run a line of best fit through the characteristics and backgrounds of addicts. But all that said, there is worrying evidence to show the rate of drug or alcohol dependency in family businesses is much higher than in their non-family counterparts.

In-N-Out next-gen reveals kidnapping attempts

January 31, 2014

Notoriously private In-N-Out third gen Lynsi Snyder has revealed her low profile is due to two kidnapping attempts that have been made against her.

Notoriously private In-N-Out third gen Lynsi Snyder has revealed her low profile is due to two kidnapping attempts that have been made against her.

In an interview with US magazine Orange Coast, the 31-year-old said the first attempt happened when she was in high school, and the second attempt was when she was in management at the family’s burger chain.

My business: OSPOP

December 30, 2013

He started his career in the petrochemical firm his father founded, but when Ben Walters, 38, moved to Shanghai to set up an office he started a rather different business – selling sneakers based on the classic Chinese construction worker’s Liberation shoe.

He started his career in the petrochemical firm his father founded, but when Ben Walters, 38, (pictured, right) moved to Shanghai to set up an office he started a rather different business – selling sneakers based on the classic Chinese construction worker’s Liberation shoe.

Love the family business

December 27, 2013

Next-gens might feel that the older generation aren’t doing enough to help them develop a good relationship with the family firm. But they can take matters into their own hands. CampdenFB takes a look.

Passions: Emre Narin

August 14, 2013

The third-generation CEO of the Marti hotel business is known to Istanbul’s clubbers as DJ Red Owl.

Socio-emotion

August 13, 2013

Anxiety about money and fear for their image can drive families to take risks and to diversify like crazy. Outsourcing control is a good idea.

Family businesses are conservative, they look to the long-term at the expense of short-term opportunities, lack dynamism and are risk-averse. Right? Wrong. That might be the conventional wisdom, but in fact family businesses can take just as many risky decisions as the most red-blooded, profit-hungry private firm. They just do so for different reasons.

Why fambiz children are gold dust

July 10, 2013

There's some things about business you just can't teach, and family businesses culture is one of them – which is why you should appreciate your next gens.

The British comic Vic Reeves once said that 88.2% of all statistics are made up. Generally, scepticism about stats is healthy, but not always. For example, a survey of HR professionals published in a recent book* found that 97% of recruiters said that having the right “mindset” is more important than having the right skills. Such near-consensus demands that you take notice. And it’s fantastic news for family businesses.

Indian family business ponders succession

January 31, 2013

One of India’s largest family businesses is keeping observers guessing on succession, despite speculation in the Indian media that a successor has been chosen.

Holding company HCL Corporation, which controls a number of telecoms and IT businesses, would not confirm that Roshni Nadar will succeed her father Shiv Nadar as chairperson. That’s despite a report in the leading Indian newspaper the Hindustan Times saying Roshni, 31, will succeed her father.

Wealthy next-gens committed to solving inequality gap

November 29, 2012

Almost half of wealthy next-gens want to use their money to bridge the gap between rich and poor, a new study has found.

According to research for the Charities Aid Foundation, a UK-based organisation that provides financial services to charities, 44% of next-gens – defined as those under 30 years old – were concerned by the gap between rich and poor.

In contrast, only 28% of the older generation – those over 45 – saw the inequality gap as the biggest challenge the world is facing today.

Next-gen, 22, joins supermarket family business

October 18, 2012

Henry Booth, the sixth generation of the family that owns British supermarket group EH Booth, has joined the business as a graduate trainee to “learn the skills of retailing from the bottom up”.

The 22-year-old will report to non-family Chris Dee, who serves as chief operating officer, said a statement from the company.

Booths, which traces its roots to 1847 when it was founded by Edwin Booth, operates 28 stores across Lancashire, Cumbria, Yorkshire, Cheshire and Greater Manchester in northern England.