With decades of experience and an in-depth understanding of the challenges facing stakeholders within a family business, BDO is a leader in advising family businesses. We work closely with our clients to help them balance the needs of the family with those of the business.
Family businesses of all sizes and types dominate most of the world’s economies. Some of the most successful and professional companies — many of them household names — are family-owned and run. Developed from the vision and hard work of the founder, these businesses take on their unique character as other members of the family enter the business. At best, such an environment can be inspiring and motivating. At worst, it can result in routine business decisions becoming clouded by emotional issues.
Our role as trusted business advisers is to help families reach agreements in creating a workable framework for the future of their business. Building a consensus when ‘family’ and ‘business’ issues are involved is not an easy process — it needs to be handled sensitively and methodically, ensuring that the relevant family members are included in the process and are all working towards the same goals.
The BDO methodology, which has been developed and tested under the most challenging family business circumstances, has proved to be successful, flexible and able to be individually tailored for clients.
Our advisers work with family businesses to first understand the needs of the business and family, and then develop strategies for handling the sensitivities that inevitably exist or arise.
Our team of experts brings a wealth of knowledge and expertise from a wide range of industry sectors and can draw from an extensive BDO network of resources, including local educational activities, networking events, and expert advice on family business issues. This ensures that we keep you up to date with the latest industry challenges and trends.