More than 75% of Irish firms are family-owned

SUSTAINING the Family Business was the theme of the first national conference organised by the John C Kelleher Family Business Centre at UCC.

More than 75% of all businesses in Ireland are family-owned and account for 50% of employment in the economy.

Centre director Dr Joan Buckley said that despite its central importance to the economic well-being of the country, family business needs have been largely ignored by both the policy makers and educational institutions.

“Recognising this, University College Cork has established the John C Kelleher Family Business Centre, under the aegis of the Department of Management and Marketing.

The centre is the first of its kind in Ireland and has been established thanks to the generosity of Blarney Woollen Mills, of which the late John “Christy” Kelleher was the founder,” he said. The centre has three primary objectives, namely to:

* Support family businesses and their advisers through educational programmes and a networking facility.

* Promote understanding of the special nature of family business.

* Undertake relevant supporting research and develop case materials related to family business.

“The centre’s core mission is to promote a holistic perspective on family business that addresses the needs of the family, in parallel with the needs of the business,” she added.

Dr Buckley believes the dissemination of family business information will raise the understanding of the complexities of the sector and provide insights for both practitioners and policy makers.

“This will provide a basis for enhancing the strategies employed in the family business sector.”