Family owned businesses
Some of the key issues we come across on a regular basis with family owned businesses include:
- Lack of quality succession planning and inadequate training of junior family members.
- External investments draining cash from operations and diverting focus on core operations.
- Poor governance and management systems.
- Lack of capital investment and financial support.
Questions that should be asked
- Is there a formal business plan and succession strategy?
- Has the business adequately distinguished business and family governance?
- Is there a degree of independent guidance?
- What are the sources of cash leakage?
- Is the management team adequately equipped?
Our experienced professionals have helped to turnaround family businesses across a range of industries and sizes. We take the time to understand not only the business but its broader environment to understand the underlying causes of distress.
We have the ability to draw on:
- Family Business Association accredited advisors.
- a nationwide pool of resources
- genuine industry experts across a range of industries
- established rapport with financiers and other business stakeholders.
As a leading professional services advisory firm, we are different in the way we relate to stakeholders and work to establish genuine rapport and provide better outcomes.