Understanding where family matters meets business
No two family businesses are the same – nor are the commercial or competitive pressures that affect them. We understand the unique additional challenges faced by family businesses and work closely with them to address and solve the competing conflicts that often arise in a family business.
For that reason, we tailor our approach identifying the specific needs of the family to align these aspirations with the business involved. Our experience in this specialist field will provide helpful facilitation and guidance when considering succession planning. We help educate and bring knowledge to the family and siblings throughout the steps of our processes. Early planning is critical for a successful transition when introducing the next generation. We first have an initial family gathering to explain the principles and intricacies of owning a family business. We will then meet with all stakeholder individually and determine what are the key issues for the family, business and its stakeholders. The outcomes are then discussed to arrive at the optimal solution for all involved.
Are you contemplating a business succession, did a business succession get stuck or would you like to know more about how BDO can assist you? Please feel free to contact one of our professionals for an introduction meeting to determine if and how we can assist with this emotional stage of your business.