I have a business and want to secure its future for my family and in a way which creates jobs to spread prosperity further. What are the choices?
min readWith fast moving growth opportunities harder to find and secure, the challenges of building businesses and investing in them throw out different needs and demands. Many of our clients are watching their portfolios and liquidity situations, whilst dealing with family pressures and increased financial demands, as well as the welfare of employees and commercial relationships. This includes the pressures around decisions to make extended family loans or not.
For some business families, the current crisis has raised issues of succession, and the opportunities of transferring assets whilst valuations are low. For others, the situation has meant that the focus is on the future - the plans for the business and the family portfolios and the need for different decision makers. Here, you can put in place a family charter to explain how you wish the family to respond in the future, for example what types of investment and acquisitions you expect them to make, be it philanthropic or purely commercial in their nature; right through to how you wish the family to communicate and behave following any loss of capacity.
Here are some of the conversations we are having with business owners, management teams, and their families.
