Issue 22 - Winter 2025

Building a Legacy: Why Family Business Must Lead on Sustainability

For generations, family businesses have been the backbone of the UK economy, contributing not only to economic growth but also to the communities they serve. 

Unlike large corporations driven by short-term profits, family-run businesses often take a longer-term approach, considering the impact of today’s decisions on future generations. This perspective uniquely positions them to embrace sustainability as a core value, ensuring their legacy is one of responsibility, resilience, and long-term prosperity.

At Essendon, we understand the importance of family businesses and how difficult it can be to adopt these sustainable processes. That’s why we work with businesses of all sizes to help them understand their financial processes. Let us handle your accounting needs so you can focus on what really matters. 

Why Sustainability is Essential for Family Businesses

Sustainability has evolved from a corporate buzzword to an essential component of business strategy; in 2025 and beyond, consumers, regulators, and investors who interact with your business increasingly want you to demonstrate a commitment to reducing your environmental impact. The expectation also extends to enhancing social responsibility and upholding ethical practices, which can be quite overwhelming.

Recent surveys highlight this shift:

• Willingness to Pay More: A 2024 YouGov survey found that 64% of British consumers are willing to pay up to 10% more for sustainably packaged foods and drinks (source: business.yougov.com)
• Consumer Concerns: The same survey revealed that 85% of consumers are experiencing the disruptive effects of climate change in their daily lives, influencing their purchasing decisions (source: pwc.com)

For family businesses, embracing sustainability is not just about compliance; it’s an opportunity to build a reputation as a responsible and forward-thinking business that will satisfy these new trends and go on to stand the test of time.

Practical Steps for a Sustainable Future for Family Businesses

Here are some practical steps that you can implement to make your family business more sustainable. 

Consider Eco-Friendly Operations

Transition to eco-friendly operations where possible. There are some energy-efficient practices you can implement that may be simpler than you realise – you could use LED lighting or optimise heating systems. This reduces operational costs whilst having an environmental impact. To take it one step further, you could also consider transitioning to renewable energy sources, taking advantage of UK government incentives for businesses adopting sustainable solutions.

Use Ethical Supply Chains

Ethical supply chains are so important if you want your business to be more sustainable. Partnering with local suppliers to support your community is a great way to do this. If you need to source from further afield, make sure each partner adheres to fair labour practices and environmental standards.

Support your Community with Engagement

Engaging in local community projects can work wonders for your marketing and allow you to give back to the people around you. You could try supporting local schools or getting involved in environmental programs to strengthen community ties. You can also encourage employees to participate in local volunteer programs focused on sustainability.

Invest in Sustainable Finance & ESG Reporting

Incorporate Environmental, Social, and Governance (ESG) criteria into business operations to attract investors who prioritise sustainability. You can also regularly report on sustainability initiatives to build trust with stakeholders.

A Competitive Advantage and a Lasting Legacy

Sustainability is no longer optional; it’s a strategic necessity. With a significant portion of UK consumers willing to support businesses committed to sustainable practices, integrating sustainability into operations not only ensures future competitiveness but also secures a positive legacy for generations to come.

For family-run businesses, becoming more sustainable may seem overwhelming, but adopting responsible business practices today will define the impact your business will have on the world tomorrow. The question isn’t whether sustainability fits into your business model – it’s how quickly you can make it a fundamental part of your long-term success.

Working with Essendon 

At Essendon, we work with businesses of all sizes, including family businesses, to help them manage their financing and accounting. For more information on how we can help you, contact our team today.