Speaking to a packed room of farming families, Mr Craven drew on his Nuffield report The Formula for Family Business Success, published in November 2023, arguing that many traditional models of family farm operation are no longer fit for the scale and pace of change sweeping through UK agriculture.
“We are experiencing change and challenge like never before,” he said. “We can’t expect the methods that worked 30 years ago to carry us through the next generation, and with two or more generations often farming alongside each other, the importance of getting along well together has never been more important.”
Mr Craven described a formative moment from his Nuffield travels when a New Zealand farmer told him, ‘You can have the best numbers in the world, but if the family can’t get along, it’s all been for nothing.’ That same farmer handed him a copy of their Family Charter, a document, he explained, that had kept their family united, their communication open, and their business resilient.
“This wasn’t a legal document,” Mr Craven explained. “It was powerful, setting out shared values, clarifying roles and responsibilities, and creating a space for respectful conversations about the future.”
He went on to describe how, after that encounter, he travelled the world and discovered that many of the most successful family businesses, large and small, had all developed similar charters.
“These documents are like a map for navigating the road ahead. They bring structure and clarity to decisions, reduce misunderstandings, and help families talk not just about work, but about hopes, fears and legacy.”
Mr Craven encouraged families to begin with simple steps: agree a few shared values, talk openly about what the farm means to each person, and create conditions for respectful conversation.
“Families already have unspoken rules and assumptions in their heads. A Family Charter is about bringing those into the open, talking about them, writing them down, and agreeing together what ‘good’ looks like for your family.”
He also addressed the emotional core of family business dynamics. “The Holy Grail is trust, and to build trust, you need honesty, openness, and fairness from all generations: those stepping back, and those stepping up.”
Mr Craven stressed that Family Charters are not legal documents, but they can lay the foundation for more formal agreements in future. “Before spending money on professional fees, you need clarity within the family. Once you know what you're trying to achieve, it becomes much easier, and more cost-effective, for lawyers or accountants to help you get there.”
Lovewell Blake agricultural partner Ryan Lincoln, who chaired the event, added: “Since the Budget, family farm businesses have very much been in the spotlight, so it was very interesting to hear Peter’s take on how such family businesses could build a shared sense of purpose which will bridge the generations and help to drive a continuity of vision.
“In an ever-changing environment, farming families have to more than ever adapt, thrive and continue their legacy.”
The Lovewell Blake/NFU Farmers’ Evenings take place across the year at Halesworth Golf club. The next event will be in the autumn, with details announced in due course at www.lovewell-blake.co.uk/events.