Working with Family Talent Roadshow hits Dublin and Cork

The next generation of family members must be ghost busters according to established entrepreneur and founder of the Great Northern Distillery, John Teeling. “You have ghosts and you have legacies in family business. You need ghost busters in the next generation.”

John was speaking in DCU (Dublin) at the first CFB family business workshop on Working with family: from engaging, to retaining, to passing on the business. John’s entrepreneurial interests were in mining and natural resources before he developed Cooley Distillery in 1987.

His two sons, Jack and Stephen, share his passion for whiskey and established Teeling Distillery in 2012. “Family businesses are going to get to the stage where they need to be re-invigorated”, said John, “you need the vision if you’re going to change”.

M&P O’Sullivan Ltd., a 110-year-old fourth generation business, was the host family at the second roadshow event in Kingsley Hotel, Cork. Director, James O’Sullivan spoke to regional family businesses, including Ballymaloe and Flahavan’s, about running his wholesale cash & carry business.

James and his brother are preparing the business for next generation involvement of sons and cousins. The role of the current generation in the process is vital according to James: “You still have a lot to offer…to be there to support them going forward”.

Families partook in an interactive workshop by providing solutions to sensitive family business scenarios played out by actors from Real Learning Ltd. Event sponsors addressed families present; PwC discussed the findings of the Next Generation Survey 2016 (find here), AIB touched on Succession and Strategic and Financing Options, and William Fry spoke about the New Companies Act and its implications for family firms. 

Please find photos of the events here. View Dublin slideshow here and Cork slideshow here.