Australia and New Zealand’s Leading Family Business Advisers
We have all heard that honesty is the best policy, and we also know that this is often far easier said than done. However, honesty is a critical component of a positive culture within a family business.
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Ten years ago, a father decided to give 100% of his shares in the family business to his oldest son. He barely discussed this with his family and other children, a son and daughter.
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Creating a Family Council can be extremely beneficial for a family business. Whether the council is initially formed in order to manage succession plans, or it is set up with the intention of developing the next generation, the key is to always have a focus on the future.
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