A new programme to support family businesses, which make up 75% of firms in Northern Ireland, has been launched at Queen’s University in Belfast.
Only 3.2% of family companies survive past the third generation and the aim of the ‘The Family Business Programme’ is to help prepare future leaders for their role as owners, managers and entrepreneurs.
Anne Clydesdale, of the William J Clinton Leadership Institute, which is running the programme with accountancy firm BDO, said the programme is the only course of its kind on the island of Ireland.
“Family firms are important to society not just in financial terms but because of the genuine commitment they have been able to demonstrate to the wider community,” she said.
Maurice Donaldson, of Chain Reaction Cycles, added: “As a family business we are fully aware of the challenges and responsibilities facing family firms no matter what stage they are at in their life cycle.”