Stats reveal the public prefer buying from family businesses

Stats reveal the public prefer buying from family businessesSeventy-four per cent of the public believe that the quality of products and services from family run businesses are better*.  Albert Goodman’s guest speaker, Business Partnerships Director at Bray Leino, Shaun Cooper, explained how businesses can build on the unique values, personalities and stories behind the family brand.

The Albert Goodman Family Business Seminar held this week, Using your family advantage, provided a platform for more than 30 family businesses to discuss common issues and experiences.

Cooper gave delegates an insight into the advantages of being a family business. He said, “There are four main benefits of being a family business – your core values, the personal touch, the added quality mark and the rich and unique stories you have within your brand. They all add up to provide a more committed business.”

“There is a perceived heritage within family businesses – what the great-great grandfather valued in his business, the son will still hold true today – and people value that. Similarly, the personal touch is important – people genuinely trust you, because they know you and know your family. If you break your promise and let your consumers down, your reputation relies on how you handle the problem. Family businesses usually reply immediately and replace the product without question – it is not often you see this.”

Cooper continued, “A family business not only has the expertise within its sector, it also has passion for its product or service. These two combined constitute a strong competitive edge. Another benefit is the deep emotional connections customers find within a family business. Members of a family business often retell the story of how their business started, and the raw passion is still apparent, 100 or 200 years later. What can be more powerful?”

Cooper concluded the evening by saying, “Family business is about discovery and sharing. Be confident about what you have to offer and take advantage of what you have. A 2011 YouGov survey shows that family businesses are 69 per cent more trusted than other businesses.”

The seminar helped other family businesses recognise the truths and values they have within their businesses and how they can use these to connect with their consumers – 30 per cent of whom would choose a family businesses to engage with*. Cooper supported this with current examples of how the family message still shines through in brand today, including Warburtons, Thatchers and Dyson.

Head of Family Business and Partner at Albert Goodman, Paul Hake, hosted the evening, which was supported by Porter Dodson solicitors. He said, “Family business is extremely important to Albert Goodman and we are pleased to support our clients and reinforce our commitment by holding these events. Inherently family businesses are considerably more trusted than other businesses and we encourage them to use this to their advantage.”

Albert Goodman has offices across the region including Taunton, Chard, Yeovil, Bridgwater, Weston-super-Mare and Weymouth. For further information, visit


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