Women through their unique perspectives that often emphasize synergies between the family and business. They have also shown the advantages a female voice brings to family business, undoubtedly serving as role models and sources of inspiration to the family businesses they work with.

Gender alone does not add or detract from an experience with family members in a business. The best family business consultants and center directors bring the whole of themselves to the family. Many women advisors approach clients with the same empathy they would bring to family matters. And perhaps, because families lean on their own matriarchs and women leaders to keep the family whole, family businesses are open to listening to women.

Women make a consulting/advising team or family business center stronger because their advisory style is complementary to men. They are perceived as being diligent and effective communicators and as being more empathetic and team-focused than men. As a result, a female voice may often ensure broad, fresh and balanced contributions, and encourage consensus, harmony, family unity and continuity. 

Some women who are wealth creators or inheritors struggle either to find their voice or to get comfortable with the power wealth brings. Many also take “wealthism” personally, which can be a real challenge for affluent individuals in our society. For example, because women tend to be highly involved in raising children, they often worry about how to help their children navigate the challenges wealth brings. And they welcome speaking to a woman who can empathize with these emotional challenges.  

Leadership opportunities were much more limited as recently as 10 years ago for women in their family businesses. And yet, we know that family businesses have more women in the likes of CEO roles than nonfamily firms. Their long-term commitment to the organization and family has led to more opportunities for women to advance to leadership and succeed in a wider variety of roles over time. We are seeing even the most male-dominated industries being pushed to include a more diverse workforce. Today’s family business leaders are also more likely to encourage their daughters to join and stay in the business.

While women are increasingly being recognized by family businesses for their contributions, women help family businesses achieve success and overcome hurdles, while also keeping an eye on fostering positive family relationships. These women bring a unique perspective to their work by leveraging their experiences and diverse perspectives. With more and more women becoming involved in leadership and ownership of their family businesses, a female perspective towards advising and consulting should grow in importance. The women advisors are leading the way and inspiring a new generation of female leaders – in both family businesses and the consulting/advising field.

(All factual and statistical information presented in this blog has been obtained from an extract of an article from the familybusiness.org ) Follow us on our Facebook page and Family Business Office website at www.familybusiness.org.mt

At the Family Business Office we can offer you assistance in dealing with family business succession planning issues through incentives supporting advisory and mediation services. Contact us today on familybusinessact@gov.mt.