Family Firms that ‘Pivot’ during Crises Succeed Long-term

Family Firms that ‘Pivot’ during Crises Succeed Long-term

Family firms that adapt during crises fair best, according to expert panel…

The overwhelming message viewers took away from the recent NCFB webinar Lockdown to Recovery (Wednesday 17th June 2020) was pivot, adapt and embrace change during turbulent times.

A panel of experts including Professor Jim Davis of Utah State University, Financial & Legal Services Consultant John Sutherland and legal, financial and taxation experts from Beauchamps, AIB Bank and PwC Ireland tackled the subject of re-opening Irish firms following lockdown.  An exclusive interview with Waterford-based women-led family business, Dooley’s Hotel, sparked discussion around the importance of adaptation, ‘pivoting’ and building upon the family’s legacy during the current global pandemic.

Tina & Margaret Darrer, 3rd generation leaders of Dooley’s Hotel spoke of the particular difficulties they faced in the hospitality industry when their business shut overnight and revenue ceased ahead of their peak season for international tourism.  To watch the webinar in full, you can find the webcast on the National Centre for Family Business YouTube Channel. 

If you would like to view the presentations of our expert panelists in further detail, you can find their slideshows below available for download.

• Professor Jim Davis, Utah State University: Family Business Resilience in a Time of Crisis and Innovation
• Ciara Fallon, PwC: ‘Return to Work’ Considerations
• Catherine Moroney, AIB: Financial Supports during COVID-19 and Managing Cashflow
• Paul Gough, Beauchamps: Lockdown to Recovery
• John Sutherland, Financial & Legal Services, Exeter University: Bottling the Brilliance

If you have any questions or queries you would like to send to our team, you can email us at familybusiness@dcu.ie. We would be delighted to speak with you!

We would like to wish every Irish family business who are planning to reopen in the comings weeks and months, the very best. Please do not hesitate to call on us if you need support.

[Image caption: Tina, June & Margaret Darrer 2nd and 3rd generation leaders of Dooley’s Hotel, Waterford]