In family businesses, two worlds meet, which could hardly be more different: family and firm. Family members have different roles to play in these two very different worlds – founder and successor, parents, children, employees, shareholders and members; the roles they perform in the company are different to those performed in the family. Family business and company business operate according to different rules and for a family business to become stronger as it passes from one generation to the next, a strong commitment is required from everybody involved.
We accompany you in the natural and delicate process of generation change and act as a neutral third party. We represent the interests of the family for the benefit of the company and not individual family members. The aim is to reconcile all dimensions: family and wealth, innovative spirit and experience, past and future, in order to plan and carry out a smooth and acceptable handover. With our expertise and competence, we support you each step of the way, without overlooking the required sensitivity in saying the right thing at the right time.
Facts and Figures
The generation change presents companies and families with an enormous challenge. Family and company interests clash and often lead to tensions felt both in the family and in the company, jeopardising their results.
Numerous decisions in family-run businesses and entrepreneurial families simultaneously affect the interests of the company, the family unit and the individual family members.
The complexities of succession planning processes are often under-estimated, with important decisions poorly planned, taken too late, or even worse, not made at all.
Lack of clarity and poor communication often lead to negative consequences in family relationships, which can last a lifetime and, ultimately, lead to the loss of family assets.
More than half of family businesses fail to make the leap from the first to the second generation. The cause of this is usually attributable to the family itself, rather than contingent market conditions.
* Survey of the Chamber of Notaries 2019
Way to Success
In the corporate system, rational, competitive and performance-oriented aspects dominate. In the family system, emotional aspects such as affection and solidarity count. For both spheres to coexist and coexist well, a common reflection and an open and objective discussion is necessary.
Shared values and objectives and a clearly defined understanding of roles form the cornerstone of successful succession planning. This creates a resilient common interest that balances individual and business interests and facilitates compromises in the event of conflict.
The most important task for all those involved in generation change is to become a team, with a clear division of responsibilities, clearly defined rules of cooperation and mutual respect.
The procedure is based on the phases of the succession process: assessing the succession situation - technical and legal preparation - determining the succession - handover and implementation - integration, and is individually adapted to the needs of your company.
We accompany you so that the often more difficult phase in the life cycle of a company becomes a proactive, well-planned and well thought-out process.