Are we about to see a spike in family businesses?

On the latest episode of the Voom Podcast we invited entrepreneurs Holly Tucker and Pip Jamieson into the studio for a frank discussion about the importance of community when starting a business.

Being founders of Not On The High Street (Holly) and The Dots (Pip), the pair have a vast amount of experience when it comes to harnessing the power of a community. One common trait of the communities in which they’re based that they both flagged was the purpose driven nature of the work people want to be involved in.

Modern workers want to focus on projects that align with their own values, which increasingly means that you will be working alongside people who share their same passions and priorities as yourself.

“I’m not sure if everyone else is getting this, but I think for the first time in history profit and purpose are aligned. The millennial generation are actually using their money for good, people will literally no longer spend more on unethical brands,” notes Pip.

“This is what’s so exciting about the future of work… our users want purpose over a pay cheque. They would rather work for a charity and use their creativity for good. We had a company, who I won’t name, advertise a role on the site and their CEO got some bad press about the way they had been behaving. As soon as it came out we saw a significant drop in applicants, as those things are important to people.”

For Holly, she sees this resulting in a greater number of family businesses, as people look to share the enjoyment they get though their work with those closest to them.

"Oh you shouldn’t say your work colleagues are your family as you’re the boss. Well, scrap it. I spend so many hours with the people that I work with because we’re on a mission together, and it’s not just a job - they have a job with purpose, it really matters to them. I have my work family and my home family," explains Holly.

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Holly Tucker, presenter Nikki Bedi, Pip Jamieson.

"What we’re going to see in the future, and certainly what I’ve seen through Not On The High Street, is more and more family businesses being created. I’ve worked with my sister for 13 years, my father has been our CFO for years, my son is building a business right now that is going to sell in our shop and my husband makes the food for the shop. It brings me so much joy that I can share what I’m doing with my family; it’s not a nine to five thing."

To listen to more insights from top entrepreneurs, head over to the Voom Podcast homepage. Alternatively, check out more from our current Family series.

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