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Did You Know?

Only

30%

make it to second generation family ownership

 

Approximately

60%

fail to plan formally for succession

 

Family Businesses account for

42%

of UK private sector employment (9.5m people)

 

Family businesses generate

£81bn

per annum of UK tax receipts

 

Family businesses contribute

£73bn

of UK total tax revenues

 

Family businesses account for almost

1/4

of the overall UK GDP

 
Directory

family business consultancy (FBC)

“When there is an elephant in the room, introduce them” 
-Randy Pausch

It is only relatively recently that family businesses have been recognised as being qualitatively different from non-family businesses. Any business faces a multitude of pressures but a family business has to contend with the dual pressures of both business and family. The family system and the business system are different but they are related and difficulties in one arena will inevitably impact on the other. Equally, the family life cycle and business life cycle develop differently but, again, are inextricably linked. Families working together in a business sometimes struggle to manage the fact that they are a social and familial unit as well as a professional and business one. They have private lives and professional lives that merge and diverge and they constantly have to reconcile the demands of the different roles they are forced to play at home and at work.

This personal and professional interface can create a complex matrix of problems, which are beyond the remit of traditional management consultants or other professional advisors such as banks, accountants or solicitors. The service we offer is very different. In order to maintain a healthy business it is essential that communication problems and conflictual relationships between family members be attended to. Our work addresses these problems, which are unique to family businesses.

Common problems facing family businesses are

  • Share ownership issues
  • Conflict between working and non working family members
  • Succession issues
  • Sibling rivalry
    Dissonance between personal ambitions, family duty and business
  • commitments
  • Breakdown of relationships between family members, which affects business relationships
  • Communication problems between family members and particularly between different generations.

It is often difficult for families to admit to themselves that there is a problem let alone talk to an outsider about such intimate and personal issues. We are highly skilled professionals with many years training and experience in our chosen fields. We can offer a blend of skills and approaches, which enable us to handle these sensitive issues in a confidential, ethical and professional way.

Our intervention is tailored to the specific requirements of each client. We offer an initial diagnostic consultation with one or more family members, which is free of charge. This initial consultation will generally last about two hours. It enables us to establish an outline of the presenting problems and provides an opportunity to determine if our approach will be suitable for the client. After this we submit our proposal for the work to the client. All costs and terms are agreed in advance and our fees are in line with standard management consultancy daily rates.

We work long term or short term with clients depending on the nature of the client’s problem. Sometimes our involvement can be as little as a day or two, or we might offer a fixed period of close involvement followed by support and guidance over an agreed period of time. Our work will generally involve individual sessions and facilitated group or family sessions. We help the client identify and clarify the issues facing the business, the family and any individual family members and we explore family, business and individual objectives. Our goal is to enable clients to develop the tools and skills they need to manage the dual pressures of family and business in order that their business thrives and their personal relationships are a source of satisfaction and support. Often, our work will involve being part of a multidisciplinary team with other professional advisors, either the client’s own advisors or firms we work closely with, who have specialist knowledge of working in family businesses.

If you’d like to have a confidential discussion with our team you can either email us or call.

 

 


 

 
 

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