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An essential ingredient in helping any family overcome and successfully manage business and family issues is communication. But because of the dynamics of family Business relationships, internal communication rarely works efficiently. So, is a family member the best person to drive the process forward in an objective and detached way? In many cases, the answer is likely to be 'no'.
It may be more appropriate to turn to an independent, neutral adviser with expertise in the field - importantly, someone with no family involvement who can promote open discussion among members of the family and guide them towards reaching consensus.
Challenges you may be facing
We understand the distinctive challenges that all stakeholders within a family Business face and, by working closely with them, have helped many to better balance the needs of the family with those of the business.
No two family Businesses are the same - nor are the commercial or competitive pressures that affect them. For that reason, we tailor our approach to the specific needs of the family and the business involved in each assignment we undertake.
We work very closely with our clients to enable them to find the most positive way forward. By facilitating discussion between the family and the business and helping to clarify the boundaries of each your family Business can better understand the roles, responsibilities and privileges of all involved.
How BDO Kendalls can help...
From our experience, built up over many years of working with family Businesses, we are able to offer practical advice tailored specifically to your business. Our clients range from first generation start ups, to multiple generation businesses across distinct cultures and industry sectors.
BDO offers the following family Business advisory services:- family and business governance structures
- strategic business planning and corporate finance
- asset protection and risk assurance
- specialist tax consultancy
- financial planning
- legal (in conjunction with solicitors)
- executive reward planning and non- family employee remuneration.
Working together
Meet the team