Family businesses tend to look to the long term and understand that the family's present and future wellbeing is tied up with the continuing success of the business over time. However, family-owned businesses face unique challenges - how to rub along together both as family members and as directors or employees in the business, and how to successfully manage the transition of ownership and management from generation to generation.
The long term success of a family business will depends upon its ability to manage these challenges and make the most of the opportunities presented by its unique characteristics. We help family businesses address these challenges of governance and succession planning, and understand that the process can be difficult. Sensitivity to family dynamics can be key..
The old adage about failing to plan risking planning to fail certainly applies to these Family Business governance and succession issues. Too often, we find ourselves advising clients after they have hit problems, when solutions can be more difficult, and the process more painful. Investing time and thought early can be very beneficial long term.
We have a unique Family Business team which draws specialist lawyers from across a variety of legal disciplines into one team, and is dedicated to providing family business centred advice. The challenges are clearly complex. We work very closely with other specialist advisers such as family business consultants and accountants to make sure the solution works from every perspective.
They understood how to balance the need to deliver a result with the need to keep family members on board.
Our aim is to keep you updated on current developments, both legal and otherwise, which affect family businesses . We publish regular briefings which we distribute via social media and our website. If you would like to receive these you may do so via LinkedIn, or by signing up to our Twitter account.
We provide a national service to family business clients via our offices in London, Watford, Bristol and Birmingham. Our family business lawyers also have the benefit of support from the firm's specialist sectors and services, offering a comprehensive range of legal services to family-owned businesses.