Preparing your family business for the future

Around three quarters of all businesses in the UK are family run or owned. And if you have spent a lifetime establishing or running a family business, you’ll want to ensure that its value is sustained for future generations and, quite possibly, to fund your retirement.

Achieving that can prove far from straightforward. So too can running the business efficiently and keeping essential assets exempt from assessment in the event that a family member requires care. Dividing assets between the family can weaken a business’ future viability. And not every family will have a natural successor to manage it.

A great many of our clients are family businesses, which look to our support and knowledge to guide them as they evolve to meet the challenges they face. Negotiating the issues that arise as one, or more, members of that family business plan their future as they enter later life is just one of the ways in which we can help.

We have a long track record of working with all those involved in a family business and developing workable solutions. That can involve production of management information, management consultancy, introducing a new ownership framework, working out appropriate remuneration strategies, optimising tax efficiency and – if it appears to be the best option for all concerned – to prepare the business for sale.

(Extract from brochure for financial client on later life services)

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