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GEEF, the organisation representing owner-managed and family businesses throughout Europe, is concerned about the difficulties which entrepreneurs encounter when transferring their business from one generation to the next or when the business is sold to a third person.

So, are family businesses performing better?

The evening of Friday, 5th October 2001 in Rome was warm and sultry, reminiscent of long summer evenings in the capital.

Serial entrepreneur Richard Owens is Chairman of ROI Pty Ltd (the Owens family's property development business) and Managing Director of Oakvale Wines Pty Ltd, which includes vineyards and a winery situated in the Hunter Valley district of Australia. He settled into the wine business having sold his successful supermarket chain. Richard is married to Mary and has four children, who all work full- or part-time in the family business

Jack: Straight from the Gutby Jack Welch with John A Byrne (Warner Books, Incorporated, 2001)

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