WIFB is a global initiative that offers an opportunity to women from all over the world to share their thoughts on matters relating to the family enterprise and sustainable business practices, connect with their peers, and contribute to the creation of a strong community.
Letting Go of the Imposter Syndrome: The Changing Role of Women in the Family Business
Business Consulting Resources (BCR) undertake an annual research project on the topic of women in the family business, creating a platform for women to share their personal experiences and shed light on issues that may have previously been overlooked.
Through intimate one-on-one conversations with the participants, a collection of stories of how women in the family business are evolving, learning, adapting and succeeding comes together. For the first time, this year’s study featured male as well as female family business members, focusing on next gens and their perceptions of both their predecessors and their own future in family business.
In this episode of our WiFB Conversations, Jean Santos, Celine Casamina of Business Consulting Resources and Ramia Marielle El Agamy discuss the results of the latest research, how the impostor syndrome impacts women and the way in which women in the family business are adapting to create their own success.
The Prosperity Playbook: Understanding Finances within the Family Business
For Mackey McNeill, owning her own business always seemed like the obvious choice. After many successful years of helping companies make better business and financial decisions, her daughter Sarah Grace joined the team, and the mother-daughter duo entered the world of family business. While this transition was not without its hardships, Mackey and Sarah Grace were able to employ introspection, as well as outside tools and advisors, to better understand not only the business but also each other.
Following the success of her own family business, Mackey decided to share her knowledge in a practical and accessible way through her new book The Prosperity Playbook. For Mackey, prosperity is about more than just having money; it’s about living your passion day in and day out, and understanding finances is a key part of this idea. With this book, she aims to provide concrete steps that family businesses can take to discuss finances in a way that eliminates the taboo surrounding the subject and boost their chance of success during succession.
In this episode of WiFB Conversations, Mackey McNeill and Ramia Marielle El Agamy discuss the importance of understanding finances, how to encourage a successful succession and what family businesses can do to survive during global economic crises.
Perryman Construction: Millennials and the New Face of Family Business
For Angelina Perryman, joining the family business was always part of the plan. From helping her father tinker with logos in the basement to typing up contracts after school, she – like many others – has been preparing for the transition to join the family business for as long as she can remember.
While the transition into the formal workplace has not always been easy, Perryman Construction has a history of adaptation, with the very foundation of the business being built on disruption. Through mentorship, the incorporation of technology and a reassessment of the basics, Perryman Construction has overcome every challenge along the way – including the recent global pandemic – to ensure the success of the business for generations to come.
In this episode of Women in Family Business, Ramia El Agamy and Angelina Perryman discuss the transition to a formal role within the family business, the female millennial perspective and how family businesses like Perryman Construction are safeguarding their future.
The Lasting Effects of the Lockdown: Creating Change Across the Globe
Over the past three months, the COVID-19 pandemic has taken its toll on many communities, families and businesses. While the global lockdown has presented many challenges, it has also provided an opportunity for reflection on our societal and business structures.
One of the major flaws that the worldwide lockdown has revealed is our dependence on the global supply chain. With minimal access to international products, many businesses have had to rely on increased supply chain localisation, benefiting businesses and communities.
The pandemic has also shed light on inequality in women’s roles, both within the family business and in the nuclear family. With women realising the need for greater balance in their roles, there has been an acceleration towards a movement for change.
In this episode of WiFB Conversations, Susanne Bransgrove and Ramia Marielle El Agamy discuss the current COVID-19 situation, its effects on family businesses and how families can cope with the surmounting changes.
This episode of Conversations with Women in Family Business is co-produced with Susanne Bransgrove, director of LiquidGold Consultants.
Building a Generational Bridge in Africa
Nike Anani did not plan on dedicating her life to the family business segment in Africa. Fate, it would seem, chose for her.
Nike is the founder and CEO of Nike Anani Practice, Ltd., in Lagos, Nigeria, where she helps second-generation family business members collaborate with the founding generation in an effort to build sustainable family enterprises in the region. No more than 2 per cent of African family businesses successfully transition power to the second generation, and Nike has made it her mission to facilitate this generational merge.
Family business has always been central in Nike’s daily life. Her parents were in their twenties when she was born and wanted to give their newborn a better life. They decided that launching a business was the best way to do so.
When she was nine, the family relocated from Nigeria to the UK, where Nike spent her formative years. After graduating university with a degree in Economics, she began working at Deloitte. While she loved her colleagues, she found the work itself dull. Her true destiny was beckoning, and she could not ignore the call any longer.
Nike returned home to Nigeria for what was meant to be a three-month break from work. More than a decade later, she is still there. After working in her family’s business for several years, she decided to follow her passion for helping other African next-gens, like herself, and thus created the Nike Anani Practice.
Women in Family Business sat down with Nike Anani to discuss the specific appeal of working with next-gens, the factors in Africa’s low succession rate and how the unique cultural landscape of Africa impacts family business development.
Daughters Changing the Conversation About Succession
After being traditionally excluded from the succession process, women’s role within the family business is finally changing. This shifting trend coincides with the leadership transition from Baby Boomers to younger generations. The fundamental, generational difference in attitude about gender is helping to fuel this progress; however, as Professor Francesca Maria Cesaroni knows first-hand, obstacles persist.
Full Professor at Italy’s University of Urbino and co-author of “Do dreams always come true? Daughters’ expectations and experience in family business succession”, Professor Cesaroni has interviewed countless women around the world about the challenges of manoeuvrability in their family businesses.
For many, unequal expectations for sons and daughters continue to colour the family business experience. However, Professor Cesaroni believes that to achieve success and sustainability, families must level the playing field by adopting an inclusionary approach that taps on all available talent.
WiFB spoke with Professor Francesca Maria Cesaroni about her research and how she believes it will influence the future of women in family business and entrepreneurs alike.