A Family Affair: A nineteenth century tale of one family and its business

Abstract

Industrialisation brought paradigm changes to the British economy and triggered the grotvth of family capitalism. Research over the years has vietved family businesses as both a negative and positive contributor to the nineteenth century economy. This article explores documents relating to the Fowkes of Stafford, whose chemist business passed down four generations during the nineteenth century to see what they reveal about this family's priorities and aspirations, how these influenced their business goals and how the evidence found relates to theories put forward to explain the success or failure of family firms during this period. As the survival rate of early nineteenth century businesses is generally agreed to have been poor, a service based business that passed down several generations of the same family is somewhat unusual. It concludes that no individual theory can be used to effectively explain the longevity of the Fowke business, although aspects of individual theories may apply at different times.