Family Business Consulting
"It takes a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it."
- Nathan Mayer Rothschild
Family Businesses form a significant part of most major economies but most do not survive to reach the third generation. It is interesting to know that almost each language in the world has a saying implying “Shirtsleeves to shirtsleeves in three generations”. It is also true that almost each language also has a proverb meaning “An ounce of prevention, a pound of cure.”
Timely planning and correct advice can certainly come a long way in strengthening any family business three generations and beyond. There are families who have taken great care in planning and have preserved their business in their families for several generations.
We understand the nuances involved in a family business and help families plan their affairs in such a way that the chances of family business continuity increase significantly. As each family which is conducting a business will have varied goals and requirements, we endeavor to apply our experience of interaction and working with over 150 families to develop a bespoke solution towards ensuring the success of their goals.
Family Governance: Documenting, addressing and establishing a Governance framework, setting internal controls.
Family Constitution: Drafting and implementing including timely and effective addressing of “Gen next” issues.
Family Forums: Initiating forums with family members for structured interaction between family members inter-se and between family and business; conducting Forum interactions.
Family Office: Structuring and establishing Single Family Offices (SFOs) and other investment structures to augment Family’s vision.
Family Ownership Model: Re-structuring ownership models in a tax efficient manner to best align it with the family’s objectives and the Family Governance model adopted.
Family Business Transition: Facilitating smooth transition from one generation to the other and professionals.