Election Puts the Spotlight on Social Capital

http://ifb.org.uk/
As the UK general election nears, politicians have been seen at leading family firms for eye-catching picture opportunities, but their visits are not down to chance. During campaigning David Cameron made speeches at Fuller’s Brewery, in London, and Warburtons the breadmaker, in Bolton, while David Miliband tucked into a pork pie at MI Dickson, on Tyneside. No doubt both parties hoped for a positive response from the public by associating with these long-established UK businesses. These firms, all members of the Institute for Family Business, also share some other enviable qualities in the politician’s eyes as they are:

• Successful: their brands are highly regarded by consumers in their respective markets

• Good places to work: their success is driven by motivated and empowered work forces

• Caring about the community: each organisation cares about their local communities

These visits have put the spotlight on the importance of social capital in today’s business world. Successful family businesses have strong financial and other assets, but also at their best have solid foundations based on a strong set of corporate values.

In summary, they are beacons for UK plc and living evidence that family firms can lead the way, through long-term stewardship and stability, to deliver a valuable contribution to the nation’s wealth.

Building greater trust in our businesses and ensuring that social capital is valued strongly alongside financial and other capital will help secure a more sustainable economy, counterbalancing the element of shorter term capitalism that exists in a free market economy such as ours. Family firms add diversity to our economy and have a big role to play in securing our prosperity.