On Tuesday past the Northern Ireland Family Business Forum Event, held at W5 Belfast, hosted by Harbinson Mulholland and Ulster University, was a celebration of the strength, resilience, and innovation of family businesses within Northern Ireland. With over 40 of Northern Ireland’s leading family businesses represented, the event provided valuable insights into the unique challenges and opportunities these enterprises face.
Darren McDowell, Senior Partner at Harbinson Mulholland, opened the forum by highlighting the pivotal role family businesses play in the Northern Ireland economy, "The businesses in this room today employ over 10,000 people”. Darren emphasized the tremendous impact family enterprises have on communities across the country. He spoke of the deep connection between employers and employees, reminding business leaders to take pride in the part they play in supporting the families of their staff.
Insights from Gemma Hamilton (Business Growth Fund) and David Ferguson (Bob & Bert's) were shared in a candid discussion. Gemma Hamilton and David Ferguson reflected on the importance of strategic growth and self-assessment for Northern Ireland businesses, ‘Be honest with yourself, Northern Ireland business owners often downplay their achievements’. Make sure to identify what's stopping you from scaling, work backwards to map out your needs, and secure the right funding. The Bob & Bert's story of growth emphasized that minority investors like the Business Growth Fund provide critical support without taking over.
Liz and Leila from Liz Lean PR shared their experience navigating the mother-daughter dynamic in business. They highlighted:
-Celebrate your milestones: They reflected on their 20th anniversary in 2019, which served as a crucial moment of reflection before the pandemic.
-They spoke on the evolution of their podcast, which reached national and international audiences, and urged family businesses to regularly assess their reputations through SWAT analysis.
-"Your reputation is your crown jewels," Liz stressed, underscoring the value of clear, continuous communication in protecting family legacies.
Dr. Ian Smyth, from Ulster University, brought a thought-provoking perspective on leadership transition in family businesses:
-Family firms must embrace the future by nurturing many "babies"—new ideas, innovations, and leaders. Holding onto power too long stifles growth.
-Northern Ireland has an appetite for change, with a younger generation eager to take over. Emotional attachment can be both a strength and a challenge. Patrick McGirr from the Artificial Intelligence Collaboration Centre at Ulster University also spoke about the adoption of AI in business and the significant strategic changes these can make for the greater good in companies.
A panel discussion led by Liz and Leila Willingham highlighted the role non-family directors play in ensuring long-term sustainability. They spoke about the unequivocal ‘Black magic of family businesses’ where family members naturally fall into roles that suit them without formal training. They reminded the audience of how communication remains the bedrock of success, especially when bringing in the next generation.
Gina London, global leadership expert, offered practical advice on how to communicate with intention. She introduced the acronym *AIM*:
-**Audience**: Tailor your communication to who you’re speaking to.
-**Intent**: Inspire action, not just deliver information.
-**Message**: Ensure your message is clear, brief, and calls for action.
A strong key message resonated throughout the event—change is growth, and effective communication is key to navigating relationships within family businesses.
The final panel discussions brought insights from leaders such as Gillian Beare (Finn Lough), Dave Morrow (Barclays) and John-George Willis (non-executive director), who reinforced the importance of external, non-family perspectives:
-Hiring non-executive directors can help scale a business, offering independent thinking and ensuring alignment within the ownership structure.
We heard from Glen Dott (Scottish Enterprise), Catherine Muldoon (DLD Foundation) and Karen Maguire (Relinea) on employee ownerships as a model for business succession. The audience heard a first hand experience of the process from Karen Maguire who has recently went through this transition.
In a heartfelt virtual appearance, Kat DeLorean, daughter of John DeLorean, shared how she is continuing her father's iconic legacy while learning from the challenges he faced. She urged family business owners to listen to professionals and maintain a layer of abstraction between passion and business decisions.
Kat emphasised that failure can be a step toward future growth and shared her vision of unveiling the next-generation DeLorean on her father’s 100th Birthday.
Conclusion
The Northern Ireland Family Business Forum Event 2024 showcased the immense value of family businesses in the region and provided a platform for leaders to share their experiences and strategies. Whether it's celebrating milestones, embracing innovation, or planning for the future, the event left attendees inspired to continue driving forward the legacy of family enterprise. We would like to say a special thank to the team at W5 and Nightcap Event Group for all their help throughout the day.
A special mention of thanks to the host Mr Mark Simpson who kept things running smoothly as always.
This event was a true testament to the vibrant and evolving landscape of Northern Ireland's family businesses. Keep an eye out for the next forum event, where these stories of success and growth will undoubtedly continue.
