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How to ensure your family business survives beyond the 3rd generation

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Neil Ellard is the third generation owner of Epping Industrial Supplies.

The business was first owned by Ellard’s grandfather and continued by his father and uncle.

EIS is the distributor for Kimberley Clark, Diversey, Nampak, Uvex, Jonsson Workwear and a number of other brands.

They are a "one-stop-shop" for many of their customers supplying them with personal protection equipment, washroom solutions and chemical supplies.

Business growth specialist Pavlo Phitidis says the stats for family businesses are scary.

He says that only about 12% of businesses that move from a second to a third generation survives.

This is a notion that Ellard agrees with, saying that age difference is the biggest challenge.

I think we need to change the way we think about business.

Neil Ellard, owner of Epping Industrial Supplies

If this family doesn’t pull together, the likelihood of it surviving is going to fall into those negative statistics.

Pavlo Phitidis, Business growth specialist

Pavlo says that everyone involved in the business need to deliberate on the future plans of the company.

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