With decades of experience and a deep knowledge of the challenges facing stakeholders in a family business, we work closely with our clients to support them to balance family needs with business needs, including advising on:
- Development of the strategic and business continuity plan
- Development of a succession plan and coaching successors
- Definition of the governance model
- Determination of the compensation and reward policies
- Definition of functions as well as profile and qualification level required
- Advice to management or shareholders BDO can be part of the advisory committee
- Alternative funding, balancing the family's financial needs with the business financial needs
- Support in acquisitions, sale and mergers
Family businesses of all sizes and types dominate most world's economies. Some of the most successful companies - many of them household names - are owned and run by families. Developed from the vision and hard work of the founder, these companies create their own culture, which will questioned or strengthened as other family members enter the business. At best, such an environment can be inspiring and motivating. At worst, it can result in routine business decisions becoming clouded by emotional problems.
Our role as business advisers is to help families reach agreements on creating a workable framework for the future of their business. Our advisers work with family businesses to first understand the needs of the business and the family, and then develop strategies to deal with the sensitivities that inevitably exist or arise.