On Friday, November 11, the 7th and 8th sessions were held with which the 2nd Edition of the Employability Course in The Family Business organized by the Chair of Family Business of the University of Valencia was completed. María Beltrán (FIBAC Consultant) and Marta Beltrán (GMM Family Office) were in charge of giving these sessions.

María Beltrán holds a degree in Business Administration from ESADE and an MBA from IVEY University London Ontario, is a 3rd generation member of a business family, and usually teaches classes and lectures on Management and Family Business.

Marta Beltrán is currently in charge of managing the GMM Family Office, that is, offering assistance to the business family in matters related to new wealth investments, new entrepreneurial projects or with the family cohesion itself.

"The role of employees in the management of emotions and the transmission of values in the Family Business" was the title chosen by María Beltrán to present her session to the students. First of all, Maria explained the concept of "Shared Culture" within the Family Business highlighting that: "We have to feel that business is our heart, for this we must invest in Values"

"We have to feel that business is our heart, for this we must invest in values"

María Beltrán

After that, María wanted to know students' opinions about common values among Family Enterprises. To do this, through a platform, the students were exposing what they felt could be values in the Family Companies and María was commenting on each of these values. In this way, an excellent interaction was achieved between speaker and students around the concept of value in the Family Business.

To end her session, María referred to the 5 existing ways to transmit Values within Family Businesses:

• Set an example

• Educate

• Meritocracy

• Respect for Individualities

• Documenting the History of the FB

For her part, Marta Beltrán raised a very interesting session under the title "Distinguishing financial areas of the Family Business". Marta began by showing two heritage structures. One of the structures is the one that usually occurs in much of the Family Companies, that is, the one in which there is a person in charge of managing the entire family estate. The other of the heritage structures, although less common, is considered ideal, since there is a family office in charge of family heritage.

"The independence of the business heritage of personal heritage is important to avoid future problems" Marta Beltran

Marta continued the session by making known the 3 decisive objectives to properly maintain the business legacy and make it lasting:

• Preservation of wealth and fiscal optimization

• Family cohesion

• Wealth generation

In reference to these 3 objectives, Marta stressed that: "If one of these legs fails, the Family Business cannot continue to advance."

Finally, Marta showed a real case in which an ideal and optimal heritage structure is applied, and gave way to a Question Time in which students were able to interact with the rapporteur to send her all her doubts regarding certain sections of the session.

The Family Business’ Chair of the University of Valencia (CEFUV), promoted by the Valencian Association of Entrepreneurs (AVE), the School of Entrepreneurs (EDEM), the Valencian Institute for the Family Business Study (IVEFA) and the Institute of the Family Business (IEF), and is currently sponsored by BANKIA and BROSETA ABOGADOS.