A real insight from one of the UK's leading family business entrepreneurs, and his views are closely aligned to many other family business owners too.
The determination to remain private, family owned and a desire not to list and bring in the influence of external shareholders are often cited as reasons for keeping the firm in the family. A profitable, sustainable family business helps too!
As Clare Stirzaker, Head of Family Business Governance at PwC adds, "It is a great perspective on the strength of family business and importance of clear succession" which in turn was reinforced by Sian Steele, Head of UK Family Business at PWC who added "it also highlights the need to engage the future generation and inspire them to continue innovation."
Interesting piece from James Dyson as, like many family firms, they take a longer term view, where ten years is not seen as a particularly long time frame for the family firm, and it is this ability to take decisions for the long term that can really set family firms apart from their competitors to.
An interesting perspective but one that will resonate with many - although there is a next generation waiting in the wings with proven business experience too so the decision not to sell or float is made somewhat easier too!
Sir James Dyson will “never” float or sell his company and plans a leadership succession that will keep the business under his family’s control for at least the next generation. Speaking ahead of the official opening of Dyson’s futuristic £250m research and development centre in Malmesbury, Wiltshire, on Wednesday, the entrepreneur spelled out why the business – best known for its vacuum cleaners – will remain totally independent.