Family Business – Governance Issues
Families are special and a well run family business can be both a hugely successful enterprise and a rewarding experience.
Unlike many businesses where one merely has to be concerned with the interests of those involved in managing the business and its shareholders, with family businesses there is a third category to take into account. There may be family members who are not working in the business and are not shareholders but have an attachment to it through past involvement or who may wish to have an involvement in the future. Our team can advise as to whether those needs are best served through a formal shareholders’ agreement or by a wide ranging family constitution, albeit these tend to be non-legally binding.
