Succession strategies and guaranteeing the success of the next generation will be the focus of the next prestigious Herald Scottish Family Business Breakfast on August 30.

It is one of the biggest challenges that family businesses will inevitably face - how to ensure a smooth transition between generations..

Next month, The Herald Scottish Family Business Breakfast in association with Business Gateway and supported by Virgin Money will be tackling this topic, bringing together experts in the field with those who have successfully made the transition.

The theme for the Breakfast is Continuity & Legacy: Empowering Family Businesses through Succession and Next Generation Strategies, and the event will explore the need for commercial organisations to start early, take sound advice and develop a clear plan for how they are going to move forward.

Scotland has many successful family businesses, many of which have a rich heritage to pass on, but this can pose challenges in terms of balancing the preservation of legacy with the need for innovation and adaptability in the modern business landscape.

It takes careful preparation to pass the baton successfully, including identifying and training the next generation of leaders and ensuring a smooth transition of ownership and management. Failure to do this properly can lead to disruptions and conflicts within the business, whereas establishing clear roles, responsibilities, and policies can help to ensure transparency, accountability, and long-term success.

There will be discussion on how to achieve this when The Herald Scottish Family Business Breakfast takes place on Wednesday, 30 August at The Herald’s office at 194 Bath Street. The host will be former BBC Scotland political editor, Brian Taylor, and the keynote speech will be delivered by Andrew Malcolm MBE, CEO of The Malcolm Group.

During the morning, leaders from across the sector will be discussing their experiences and sharing some of the strategies that they have used in order to move their companies forward while achieving the sustained growth and success necessary to secure the future of their businesses.

Amongst those participating will be James Taylor of Taylors Snacks, who will be talking about working with Mackies, while other business owners will be recounting their experiences of moving to an Employee Ownership trust.

The event begins at 9:30am and will include a panel discussion with a Q&A and opportunities to network with other delegates.

Hugh Lightbody, Chief Officer, Business Gateway National Unit, said “Family businesses are the backbone of our economy, built on strong values, lasting legacies, and unwavering commitment. This event will celebrate the growth and prosperity within the family business sector in Scotland. It will also be a place where time-honoured tradition meets innovation and an opportunity for knowledge exchange, networking and collective inspiration.”

And David Henderson, Head of Strategic Finance, West of Scotland, for Virgin Money said: “Virgin Money is a proud supporter of the family business community, and we are delighted to be sponsoring this year’s Business Breakfast, which will be a fantastic opportunity for family businesses in Scotland to gather together and hear from some really interesting speakers as they discuss the challenges, opportunities and successes of their family business journey.” Full details and tickets to event are available from