July 2, 2018
Authored by: Georgina James
Originally posted on the BCLP Private Wealth Insight Blog found here.
The family business not only represents the hard work and entrepreneurial spirit of the founders, sometimes across generations, but is often a reflection of the founder’s and family’s values and beliefs.
The family business has the potential to grow, adapt and continue to deliver value across generations – but can it, will it and should it?
Should the founders pass it on or sell it? Are the options binary?
In weighing up the options, the issues can sometimes seem conflicting.
- Does the need for financial freedom – to provide financial support to family; to explore new investments or philanthropic ambitions – necessarily mean the family business must be converted to cash?
- If there is no family member willing and capable of taking on leadership of the business, can the family business, to which the family