The world has been turned upside down in recent months if you believe all that you read, but how different does it feel to you as a member of a multigenerational business-owning family? True, we are in the middle of an economic downturn and yes, some of the certainties of the past decade can no longer be relied upon.
However, speak with any elder family relatives and they will no doubt tell you that this current "crisis" is nothing that they haven't seen before. Using such intellectual leverage is a real advantage for family businesses and could well help overcome any challenges you may be facing at the moment.
In this issue's cover feature, Lanse Crane, our very own Hercules and former chairman and CEO of family-owned Crane & Co, outlines seven other challenges that family businesses need to address in order to achieve long-lasting success. We also hear from the family behind NASCAR and two next generation members of a UK family company who explain how they have broken every family business "rule" to prosper.
Next gens are also the focus of our governance section. However, it is their views on philanthropy that are under the microscope as we find out how and why they want to change the world for the better.
India has been at the forefront of the emerging markets revolution, so it is a prescient time to revisit the country to find out what family businesses are up to as the country's meteoric growth begins to slow. Our special report this issue goes indepth to ascertain what leading families have to say.
You may well have noticed that this is a spring issue as opposed to our usual bimonthly offering. In line with the financial downturn, we have cut our cloth to ensure that we bring you the quality of coverage you have come to expect.
There will only be four issues of Campden FB this year, but you can view the breaking news, views and features from the world of family business at our website. Enjoy the issue.