Working With Families

Families like businesses have a culture and dynamic. As the family and business expands to include more people through family growth, marriage, business evolution and the like, the complexity of the organisation, the goals of the individuals and the influencers to decisions changes. The right techniques can:GettyImages_88751607

  • Provide financial return to the family and its members
  • Set principles by which the family business operates
  • Strengthen relationships and trust within families
  • Use family members’ strengths, skills and abilities
  • Provide a legacy for the family
  • Unify the family to a common purpose

 

Challenges of Family Businesses

Foundation works with families to help deal with issues that are specific to family businesses. These include:

  • Improving and smoothing internal decision making processes
  • Using the family to improve the business and the business to improve the family
  • Defining principles for dealing with the family in regards to the business and wealth
  • Setting family cultures