BUSINESS FAMILY GOVERNANCE, SUCCESSION PLANNING & RELATED ISSUES

Business Family Governance, Succession Planning and Related Issues – Overview

Introduction

Running a family business is both a challenging and rewarding process. It comes with a unique set of issues that are not as prevalent in other businesses. A business owned by a family must end up creating a Business Family approach to issues such as employment of family members, sucession, dividend policy, community values and many other related things.

Running a business and being a family are separate things and as such when the two are intertwined there is a need to create boundaries and rules. This section will cover these important issues and outline the best strategies for approaching them. You will learn about:

  • Family business governance
  • Succession and continuity planning for the future
  • Domestic contracts
  • Strategies for raising children in a wealthy household

The sections relating to governance, succession, and continuity planning have drawn significantly from the book “Family Business Succession: Your Roadmap to Continuity” by Kelly Lecouvie and Jennifer Pendergast. For more information, and to purchase this book, please see:

http://www.amazon.ca/Family-Business-Succession-Roadmap-Continuity/dp/1137280891