Source: DCU National Centre for Family Business/ Report January 2021
Surviving a Crisis as a Family Business report came about following a conversation among colleagues at DCU National Centre for Family Business, Ulster University, the Northern Ireland Family Business Forum, and the University of Central Florida. The catalyst for the study came during a unique moment in Irish business history when the onset of an all-island lockdown, as a result of COVID-19, necessitated the closure of many businesses across the island overnight.
The survey was developed with two main aims.
- Firstly, to conduct the first all-island research study that assessed the impact of the Covid-19 crisis on Irish family businesses.
- Secondly, we developed the study with a longer-term objective to understand how family business teams respond during crises. While the urgency of the global health pandemic and its resulting impact on family businesses across Ireland necessitated a research intervention to assist those affected, our teams also recognised the value of developing a crisis resource that family businesses could take into the future. We hope the report’s evidence-based findings and theory-driven recommendations will provide useful, practical steps and tools for family businesses managing crises in years to come.
They followed the progress of family businesses from the Republic of Ireland and Northern Ireland from mid-March 2020 until early November 2020. Data was collected across this seven month period with input from 53 CEOs and 198 employees, with a minimum of three employee respondents representing each family business.
If you are in a Family Business this report is a must-read.
Click here to read – Surviving-a-crisis-as-a-family-business-report Jan21