Managing Family Business

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Course Description

Check out our Managing Family Office & Wealth course in London.

Family owned businesses are the cornerstone of the global economy accounting for 80% of all businesses. Notwithstanding this fact there has been limited focus on the specific issues and challenges facing this type of organisations. 

This highly practical 2 day course will give you a thorough understanding of the complex needs and functioning of a family enterprise. From assessing the requirements of the family business and setting up structures for family governance to understanding the working of family business boards and establishing performance measurement systems you will gain practical tools to manage and advise family owned organisations.  

Managing conflicts, taxation, education and succession planning will be amongst many topics discussed during this programme. 

Conducted by an international expert with over 20 years of experience in advising family offices and businesses and wealth management, this programme will prepare you to tackle complex issues surrounding family businesses. 

What Will You Learn

 By the end of this course you will: 

  • Gain a thorough understanding of the complex issues surrounding family businesses
  • Gain skills needed to advise family enterprise
  • Be able to assess the needs of the Family Enterprise
  • Develop mechanisms for family business governance and performance measurement systems
  • Learn about succession planning, dealing with complex family structures and managing conflicts

 

 

 

Main Topics Covered During This Training

  • Overview of “The Family Enterprise”
  • Understanding the complexity of the family enterprise
  • The role of the Family Office within a Business Family
  • Developing the family “mission and values”
  • Ownership and Governance of the Family Enterprise
  • The workings of family business boards
  • Performance Measurement and reward systems
  • Dealing with “complex family structures”
  • Succession Planning
  • Managing conflicts
  • Assessing needs of the Family Enterprise
  • Advising family businesses

Who Should Attend

The course will be of interest to:

  • Family members
  • Shareholders, directors and employees of family businesses
  • Family Office members and executives
  • Professional advisors working with family businesses
Register Now

, call us for more information

Delegates have to be from the same company and register at the same time in order to claim the discount.

Managing Family  Business - A 2 Day Course

 Overview of “The Family Enterprise”

  • Definition
  • From “corner shop” to Sovereign Wealth Fund
  • Nuclear, multi-generational and networks of families 
  • Separation of business and personal wealth
  • Understanding the complexity of the family enterprise
  • Dealing with concentration of risk
  • Lifestyle or Enterprise
  • Passion for “control”
  • The role of the Family Office within a Business Family

 

Developing the family “mission and values”

  • Why, what and how?
  • Family values drive success
  • Establishing (and articulating) the common and shared purpose
  • Developing goals and priorities
  • Clear direction – the road to longevity
  • Attitudes to ownership
  • Value out or custodians?
  • Inter-generational or multi-generational?
  • Philanthropy and Community
  • The importance of brand, reputation & legacy

 

Ownership and Governance of the Family Enterprise

  • The Family Constitution - formal or informal?
  • Structure and Governance mechanisms
  • The workings of family business boards
  • Performance Measurement and reward systems
  • How motivated are family members?
  • Dealing with “complex family structures”

 

Succession Planning

  • Age
  • Ill health
  • Family division
  • Transition management
  • Exit of the founder(s)
  • Intergenerational or multi generational planning?
  • Distribution or growth
  • Preparing for transfer of ownership

 

Conflict 

  • Predictability
  • Planning
  • Management
  • Resolution
  • The impact of the “passage of time”

 

Assessing needs of the Family Enterprise

  • Skills & Competency inventory
  • The significance of the “developmental model” in the evolution of the family business
  • Make vs buy support services
  • Selecting advisors
  • Mobility of wealth & the family business
  • Immigration
  • Taxation
  • Education
  • Philanthropy
  • Planning for specific liquidity events
  • Confidentiality and Secrecy
  • Preparing for the sale of the family enterprise
  • Women & the family business

 

Advising family businesses

  • Using the “family tree” to predict the future
  • Recognising the “sub systems” 
  • Identifying and managing conflict
  • Extracting wealth from the family business

Our Course Director is currently working as a trainer and consultant focusing on the wealth management needs of high net worth private clients, their families and their businesses.  

Prior to this Bill worked in the international private banking market for almost 20 years. His private banking career began with Royal Bank of Canada where he spent 15 years in a variety of senior roles covering all aspects of the international wealth management business both onshore (London) and offshore (Bermuda).

Bill has broad general wealth management experience but his particular area of expertise is developing financial planning solutions for international high net worth private clients and their businesses who have complex cross border planning issues. In addition to wealth structuring, tax and estate planning the practice also advises on the specific challenges in establishing and growing a successful family enterprise.

During his career Bill has had responsibility for designing and delivering financial education programmes for professional staff and wealthy families in the Middle East, Europe, USA, Canada, South America and Africa. Bill is currently developing and delivering training programmes for international banks, private banks, wealth managers, family offices, professional bodies and regulators covering a broad range of financial, investment and soft skills subjects.

Bill is a Chartered Accountant (FCA), Trust and Estate Practitioner (TEP) and Financial Planner (DipPFS).

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Managing Family Business <h4><strong>Check out our </strong><a href="http://www.eurekafinancial.com/courses/family_office_course.html"><strong>Managing Family Office &amp; Wealth course in London</strong></a><strong>.</strong></h4> <p>Family owned businesses are the cornerstone of the global economy accounting for 80% of all businesses. Notwithstanding this fact there has been limited focus on the specific issues and chal ...