Cover of MoneyWeek magazine issue no 547

Japan looks good

22 July 2011 / Issue 547

James Ferguson on why it's time to buy

PLUS:

  • Family firms are bad for Britain
  • Gold is heading for $2,000
  • Profit from the alternative energy revolution

Excerpt

Don’t keep it in the family

Work for a family-run company? Lucky you. According to a survey quoted in the Financial Times this week, you are so satisfied with your working environment that you work almost one day a week longer then everyone else. You show more loyalty to your company and you believe you have more job security than the rest of the workforce. You feel involved, included and valued.

You aren’t, of course (job tenure in family firms is on average shorter than in non-family companies). But that’s not the point. The fact that you feel you are makes you work harder (38 hours a week versus 32 in the rest of the private sector) and makes you feel better about your work. Take Nelsons, a homeopathic product firm mentioned in the FT piece, whose employees seem more than happy with their lot. Peter Warren met his wife Shirley at the company. In a smaller, “family-type company it just seems as if you are more important”, he says.

• Read the full editor’s letter here: Don’t keep it in the family