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Family Business Review
This audit is designed to provide a holistic approach to family business governance encompassing family expectations, ownership expectations and business need.
The audit is a formal assessment of the family, business and ownership situation at this time. Its objectives are:
- To identify and raise people’s awareness of the work needing to be done in order to have a successful transition from one generation to the next
- To involve and inform those who will be affected by decisions to be made about the future ownership and leadership of the business
- To set out a plan to address the relevant tasks including a timescale, a programme and the support (technical, professional, personal) required for implementation.
There are three stages to the audit:
- Information gathering
- Assessment
- Report and recommendations.
The audit is interview based (up to four key family members) and provides an overview of future challenges to the business with particular regard to succession and the implementation of necessary governance structures to assist in transition to the next generation.
For further information please contact us.