By 
The Honey Bun Foundation will be hosting a series of three seminars focused on empowering operators of family-owned businesses.
The series will be facilitated by Dr Lawrence Nicholson, a director of the foundation and a senior lecturer at the Mona School of Business and Management.
Nicholson is also a leading expert who has researched family-owned and women-owned businesses in the Caribbean and co-authored the book ‘Understanding the Caribbean Enterprise: Insights from MSMEs and Family-Owned Businesses‘.
Michelle Chong, founder of the Honey Bun Foundation, noted that she is familiar with how vital it is to have well-defined governance structures in place, particularly at family-owned businesses.
“We have set up rules for the family in the business so that when you have a problem with the family in the business, you know how to handle it. There must be rules for the family, so the business is not taken for granted or abused,” she said.
Family-owned businesses are an important component of many economies across the globe. In Jamaica, the revenue generated from these businesses is equivalent to approximately 32 per cent of the country’s gross domestic product (GDP). Despite this, Nicholson noted that there remains a gap in perception, understanding and effective management of these businesses.
Nicholson noted that participants in the series should expect to leave with a comprehensive understanding of family-owned businesses and issues that affect them. He said that in the absence of this understanding, the chance of having suboptimal management and business performance increases. He noted also that the workshops will be conducted in a manner that addresses concerns that are common among participants. They will be both prescriptive and adaptive.
The three workshops, the first of which will be on June 18, will cover the topics ‘Navigating the governance structures related to FOBs’; ‘Maintaining a balance between family and business (FOB Constitution)’; and ‘Managing transitions from one generation to another’.
The first two workshops will be virtual while the final one will be held in-person. Registrations are done online via the foundation’s website.
Original Article: https://our.today/honey-bun-foundation-offers-family-owned-business-workshop
