SNG Grant Thornton offers a unique family business specialist service to owners of family businesses, their spouses and adult children.

The Methodology is based on the premise the issues arising in a family business cannot be viewed in isolation-one needs to take into account all the factors impacting on the family business. It is also important to accord each person the opportunity to influence the process

We will identify the sources of potential conflict and the issues which need to be addressed in families and the businesses
they control. The issues that typically need to be addressed
include:

• Succession and continuity planning
• Life cycle forces influencing family businesses
• Remuneration and recognition
• Professionalisation of the family business
• Governance in the family and business
• Establishment of effective communication and decision making structures
• Non-family executives
• Equity ownership for family members
• Strategic planning for a family business
• Family members entering the business
• Family wealth
• Retirement and estate planning
• Conflict resolution and mediation.

These family business service offerings include:

• Interactive family presentations
• Confidential interviews - information gathering
• Family meeting facilitation
• Implementation and review phases:

− Establishment of governance, communication and decision making structures; Family Shareowners’ Committee, Board of Directors and Executive Committee
− Succession planning
− Developing a Chart of Authority
− Preparation of Family Creed, that includes:
− Family vision, values and philosophy
− Ownership philosophy
− Management philosophy and
    objectives
− Professional management
− Dividend/distribution of profit policy
   and funding/gearing
− Governance structures
− Board of Directors and Board
   Chairman
− Family Shareowners’ Committee
− Family Council/Table
− Employment and remuneration of family
− Process for family members to join a family-controlled company
− Retirement
− Communication
− Financial information and confidentiality
− Conflicts of interest and dispute resolution
− Employees
− Family archives.

 

CONTACT AN EXPERT Tony Balshaw

Head of Family Business Services

Find out more
BROCHURE Family Business Services Download