FAMILY BUSINESS ADVICE - GOVERNANCE

Getting organised

Fundamental to the success of a family business is how it is governed and for family to discuss difficult things in the open.

By creating a Family Constitution or Charter, the family can properly agree a policy that brings harmony and which addresses matters of the business such as ownership, employment of family members and succession.

Difficult situations which will arise as the business grows in size and complexity, can be addressed, agreed and written down in a living document as a point of reference.

  

“My husband tells me our son isn’t capable of running the business, so the business should be sold. Then my son complains to me about dad being overbearing. I toss and turn all night worried about what will happen to my son and his family”