As COO and director of family business, Gallagher Group, Lyndsey Gallagher was surprised when recent research by Cynergy Bank found that family firms are still largely being handed down to sons rather than daughters. Read more about the &Daughters campaign here.
“It makes for difficult reading, not least because this has never been my experience. It’s clear though this remains an issue, and I think that female business leaders need to be more visible so that we can encourage more role models.
“Speaking from personal experience and other women I know who work in family businesses, the female members contribute just as much their male counterparts. We must do all we can to eradicate these small pockets of stubborn biases in the business community.”
Gallagher Group is one of the South East’s premier Building, Civil Engineering, Aggregates and Property Development companies and has 350+ employees.
“I think stereotyping men or women can be unhelpful as ultimately, we are all different in our own way, regardless of gender,” says Lyndsey. “But what I can say is, from the successful women I meet in the world of business, there seems to be a common trait of emotional intelligence: they show compassion and know how to compromise. They are meticulous, measured and pragmatic.
“These are exactly the type of qualities we need to challenge the status quo. But perhaps most important, I think these women are good at building relationships, are problem solvers and have strong values – three things that will always make you successful in business.”
Gallagher Group has done a significant amount of preparation and made great strides in ensuring the business is in a strong position with a clear vision for the future, states Lyndsey. “Family businesses come in different shapes and sizes, and indeed operate in a number of industries, but I think succession planning is even more important for the sustainability of family-run firms. Given the internal dynamics and sometimes complications, it’s important to have considered the path ahead.”
“In terms of my personal contribution, I will continue to play a significant part in my family business, alongside my siblings, and ensure we are all doing the best for the future of our business.”