Kennards Self Storage is a proud family owned business with its inception dating back to 1973 when the late Neville Kennard built the first self storage in Australia. Neville Kennards original successful enterprise was Kennards Hire, which he also took over from his father.
Our family have a rich and proud history of family business success. In this regard, we have made deliberate strategic decisions to enable our business to survive and thrive for the long term, over multiple generations of ownership. We are also members of Family Business Australia (FBA). This has been a valuable place to learn about creating a sustainable family business.
The efforts of the FBA have recently resulted in government interest in the family business sector and who have recently been undertaking a parliamentary inquiry in to Family Business. The inquiry is a positive development. It may ultimately enable some meaningful dialogue and understanding. Hopefully eventually resulting in appropriate deregulation and tax treatment so that succession is not inhibited unintentionally by government interventions.
The long term decision making, innovative and market leading attributes of family business should be cultivated and encourage.
The inquiry has now created some media interest and Smart Company has a good article about it here. The article includes some elements of my own submission to the inquiry.
Author: Sam Kennard, Managing Director, Kennards Self Storage