• Firm journal archives

  • Firm Journal categories

  • Family Business

    When family is involved in business together, conflicts can arise that are much more emotionally tense and difficult to resolve than those in a purely professional environment. Understanding this, we have devised this guide to try and help you to avoid conflict by preemptive planning, resolve issues that do arise in the most objective and professional manner possible, and make the most out of unfavourable situations that cannot be avoided.

    More so than in any other business, it is important for the owner/ operators of family businesses to maintain professionalism and objectivity, to help keep the emotional aspect of personal relationships from interfering in the running of the business. An excellent way to ensure that management remains as unbiased as possible is to have a clearly defined infrastructure to rely upon, particularly as regards business plans, financial plans and management hierarchy.

    In the following pages, we will touch on the most common problems that can arise within family business, and provide you with the tools to work through and resolve these issues and prevent them from happening in the future.