Structuring family business for success
Much of our work to improve governance results in a family charter. This document details the policies and structures that will enable the family and the business to operate independently and prosper in harmony. The types of issues that charters typically deal with include:
- Vision, mission and values
- Management philosophy and objectives
- Share ownership
- Family councils, employments and meetings
- Succession planning.
Preparing a family charter
Preparing a family charter is not straightforward. It requires commitment and communication from everyone involved. Often the process and discussions are more valuable than the final document, creating greater clarity and understanding within the family.
Find out how a BDO adviser can help bring greater clarity and structure to your family business. Get in touch today.
Please fill out the form below to contact us. Alternatively, please call us on 1300 138 991.