Cobham Mission Equipment Project Complete

The final stage of the decommisioning program at Cobham Mission equipment has now been compeleted, with all equipment removed form site and licence surrenders approved

Family business since 1966

Our company has been trading since 1966. Indeed, if you trace back to the roots of the family business, you will see that my grandfather was a dealer in general machinery as far back as the 1930s.

When my father started Barry Riley and Sons in the mid 1960s, much of his early success was down to opportunism in exploiting the great nickel shortage in those days. By recycling and reselling unwanted nickel stocks, he was ahead of his time, as recycling has become such a major factor in our industry today.

We have only been specialists in the surface finishing sector for 44 years (not a bad innings). But as a linear family business unit, we have survived the great 1930s depression, the Second World War, post war austerity, the Cold War, numerous recessions, the 3-day week, the miners’ strike and so on.

So when there is talk of ‘double-dip’ recession just around the corner, I may be apprehensive but I have little fear.

Much of the real success of British industry has been due to family businesses. For instance, there is one that I know only too well as I live very close to their headquarters. That company is JCB, but how many people around the world who associate the name with heavy digging machinery realise that the initials stand for Joseph Cyril Bamford, the company’s illustrious British founder?

This is a great British company, which has survived some horrendous construction industry downturns, not just here but all over the world, and is still standing.

There are many reasons why a family business is often stronger than the sum of its parts. Let’s explore just a few:

In a sustainable family business, ownership is passed from one generation to the next. Loyalty is expected because of the need to protect the family’s inheritance. This often leads to a greater incentive to innovate, diversify and grow the business.

Specialist skills and knowledge are passed from one generation to the next. The surface finishing industry is renowned for its patented processes and ‘black arts’, many of which are the exclusive preserve of a particular family and bear its name.

A well-run family business will often treat its employees like members of an extended family. This engenders greater loyalty and commitment and creates a more tightly-knit unit with a fighting chance of riding out the challenges of recession, industrial decline and foreign competition.

And if, like ours, the business name is synonymous with the family name, its builds a strong and trusted brand, as the products or services are associated with real people, whether alive or dead. Just think of Ford, Austin, Morris, Rolls Royce, Marks & Spencer, Dyson, W Canning, the list goes on and on.

Of course there are always exceptions. Who could forget the misplaced honesty of Gerald Ratner, or the reckless optimism of John Delorean? But, on the whole, the family business model is a good one to follow.

So as the ominous drumbeat of government cuts, market forces and the usual prophets of doom gather at the gates, I take strength from the knowledge that my forefathers faced much greater problems and came through relatively unscathed.

I believe that the traditional British family business, both in our own sector and manufacturing industry in general, is an excellent template for companies to follow if they are to survive and prosper.