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www.europeanfamilybusinesses.eu
info@europeanfamilybusinesses.eu
JULY –  DECEMBER 2020
Family Business responses to COVID-19

On the 13th July, EFB released their paper: “Family Business Responses to COVID-19”. Following the hard-work of family businesses from across Europe, EFB felt that it was vital to highlight the formidable commitment and efforts of family businesses in responding to the COVID-19 pandemic. 

This paper explored the selfless work of family businesses from across Europe in response to the first wave of the COVID-19 pandemic.

Upcoming for 2021

In the first quarter of 2021, EFB will be releasing several position papers. 

Summit announcement

Following consultation with the EFB Board, the decision has been made to move EFB’s Summit for 2021 online. 

With the current situation surrounding the COVID-19 pandemic, the board decided that with the uncertainty surrounding travel and focusing on the health of our members, this was the best solution so that EFB would still be able to host an effective event, having not held a summit in 2020.

Directors Retreat

Due to the COVID-19 pandemic, EFB’s 2021 Director’s Retreat took place online. 

The retreat saw Member Chapter Directors join an online conference to discuss the situation of family businesses across Europe and the challenges faced.

Interview with EFB President Udo J Vetter

EFB President Udo J. Vetter sat down to tell EFB members more about his third generation family business ‘Vetter Pharma’ and his role as President of EFB.

EFB meets with Kerstin Jorna

At their Board Meeting on 20th October, EFB’s Board members were joined by Kerstin Jorna, the Director General for DG GROW, European Commission DG Internal Market, Industry, Entrepreneurship and SMEs.

KPMG Global Tax Barometer

In October, KPMG Private Enterprise released their Global Tax Barometer investigating the situation surrounding taxation on family businesses, and specifically the transfer of business process, across the globe.

In what has been a tough year for all businesses with the challenge of dealing with the COVID19 pandemic, many situations have evolved to present new challenges. 

Privacy concerns for Family Businesses

Following discussion with the Management Committee and the Board in October, EFB drafted a letter to DG CONNECT in response to the European Commission’s consultation on high-value data sets.

EFB Member Chapter Updates
SPRING

In the latest transnational meetings, EFB presented their finalised educational module on family business governance structures and were able to share this with the fantastic team of academics and organisations that make up the SPRING Project consortium. 

The transnational meeting saw some excellent modules presented in what promises to be a vital research project for the family business community.

SUFABU

On 5th and 6th October, the third transnational meeting of the SUFABU Project looking at succession in family businesses, organised by the project’s Italian Partner CEDIT, took place on a hybrid platform due to COVID-19 travel restrictions. 

Some project partners were able to be physically present in Florence, whilst others, including EFB’s team joined the meeting online.

A word from our sponsors, KPMG

Creating value through good governance: 

How to balance what is right for the business and for the family

Choosing the right governance practices in a family business is a critical ingredient for its long-term sustainability. While business governance is essential for effective business processes and establishing control mechanisms, family governance processes and structures serve a different purpose. Not only do they help to support a strong communication environment among family members, they also define who the family is as a group and what they want to achieve.