Strategic planning for family businesses

Many family businesses evolve on a day-by-day basis. Key issues - including the roles of individual family members within the business, the ability of other family members to join the business and their right to participate in the firm’s decision-making process or profits - are often not formally discussed and may be left undocumented. For some, this informal approach can work for a time. But the lack of an agreement and planning can lead to significant difficulties when the time comes for the business to change direction - through an acquisition, sale, succession or simply a change in the scale of operations.

Our strategic planning services help family businesses avoid potentially damaging issues and prepare for future opportunities by focusing on producing an agreed, documented approach to the fundamental issues of ownership and decision making.

ByrneWallace advises family businesses on a range of strategic planning issues, including:

• Restructuring
• Use of trusts and other asset holding structures to hold the business or other family assets
• Ownership and management structures
• Remuneration planning
• How to reflect family values in the business
• Ownership control devices
• Minority shareholder Issues
• Corporate governance issues
• Competition matters

• Family Businesses