Families in Business
Family businesses are different. They operate in an environment where typical business issues can be more complex. Indeed, family businesses face issues that simply do not occur outside this sector. For example, the desire to protect the business and retain future ownership within the immediate family will often be a key driver.
We have a long history of advising family businesses on a wide range of legal issues including succession and will planning, family and employment law and structuring, buying and selling businesses.In our experience, advising family businesses needs to factor in a wider range of objectives, and to recognise that the most appropriate strategy will not always be the most profitable – profit is important, but so too are family harmony, reputation and loyalty to the workforce. The decision-making process can often be quicker and more responsive than in other businesses – but can sometimes grind to a halt if competing family objectives overflow into the business process. Therefore, it is important that the overall business strategy is compatible with the personal objectives of key family members.
Our multi-disciplined team of lawyers has extensive experience in advising businesses, and the families who own them, in a wide range of personal and business transactions.