European Family Businesses (EFB) recently had a directors’ retreat in Tallinn, Estonia from 6-8 September. We had the opportunity to discuss important policy topics impacting family businesses, including the business transfer recommendation, the use of AI, the Capital Markets Union/Savings and Investments Union, bureaucracy, and the Skills Portability Initiative.

During our two-day event, we had the honour to hear from Mr Peeter Raudsepp, the Mayor of Tallinn, Mr Kristen Michal, Prime Minister of Estonia, and Mr Erkki Keldo, Minister of Economy and Industry of Estonia.

Prime Minister Michal gave an overview of the state of play in Estonia and discussed several aspects of the country’s economic performance and use of AI. Mr Keldo, the Minister of Economy and Industry, discussed Estonia’s economic outlook and competitiveness agenda, along with the implications for family businesses. He analysed how the economy has evolved in recent years – covering inflation and labour policy reforms, the AI Leap programme to increase AI literacy, and the reduction of bureaucracy.

The retreat also gave us the chance to explore local culture and enterprise, with visits to the Arvo Pärt Centre; to Chocolala, a family-owned chocolate house in Tallinn’s Old Town; and to the Estonian Business School.

We are grateful to Eesti Pereettevõtjate Liit for hosting us and helping to make this directors’ retreat a success.