Surviving a crisis as a family business: innovation and adaptation

Darren McDowell
Darren McDowell
“PIVOT”: an adjustment or modification made to adapt or improve . . .
This word has been used a lot over the last 15 months to describe how businesses are coping with the changes brought on from the Covid-19 pandemic. Not inventing the wheel, but having to embrace what we haven't done previously.
Family businesses are generally thought of as risk-averse, traditional, and stagnant but we have seen exactly the opposite and are often a seedbed for innovation.
Harbinson Mulholland work with many of Northern Ireland's home-grown family firms and in our experience, family ownership allows for tremendous flexibility in the redeployment of resources during rapidly changing circumstances. Typically, within the agile environment of a family business, decisions can be made and implemented quickly because owners are close to the coalface.

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