Adoption of the Wates Principles among UK Family Businesses

Abstract

This report from the Family Business Research Foundation sheds new light on the corporate governance practices of UK family businesses, focusing on their adoption of the Wates Principles. The research reveals that while family-owned firms are more likely to adopt the Wates Principles than their non-family counterparts, gaps remain in areas like board composition and director accountability. The report underscores the need for improved disclosures and governance practices in family businesses to strengthen stakeholder trust and long-term sustainability. It also calls for further guidance to support family firms in aligning with governance best practices, an issue increasingly important in the UK’s evolving regulatory landscape.