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Ultra-high-net-worth families, and those advising them, often fall into the trap of thinking that their reputation revolves around how much money they give to charity, or how many flagship interviews they give to the broadsheets. While these are important factors, many of Britain’s most successful entrepreneurs and wealth creators are missing a huge reputational open goal – and that is employee welfare.
Privacy is changing. The line between private and public for ultra-high-net-worth individuals and families has always been a thin one, but social media and the 24-hour news cycle has made that line both thinner and more blurred.
Family-owned businesses make a massive impact on the UK economy. The Institute of Family Business’ latest State Of The Nation report bears that out: the family business sector generated over £1.7 trillion in revenue in 2017 for UK public coffers and contributed more than £500 billion of our annual GDP.
The publication of The Sunday Times Rich List a few weeks ago was greeted with a familiar outcry. It's unfair. Capitalism is broken. How can so few people have so much wealth while others have so little? Cue Jeremy Corbyn: it was a "stark reminder of the grotesque inequality that scars our society".
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Effective communication will give you the reputation you need to achieve your goals as well as circumvent the risks that plague successful families. To discuss taking control of your communications, fill out our contact form or contact us directly.