IT’S IN THE DNA
Family Business
The word family means something to all of us and through the generations change is inevitable just as is the progress of your family owned enterprise.
However a family owned business does offer its own unique challenges and opportunities despite the family dynamics at play because as an owner each decision made has to be made mutually with other members to navigate the journey ahead whilst not forgetting the strong family values that built the company.
A family business has soul, there’s a unique passion about how they do business and therefore everything we do is built around you.
Being a family business is has a unique element of play and every decision made has the family factor to consider and this can have a significant impact on the thought and decision making process were you may have to juggle a fine line between meeting the needs of the business against the expectations of your family.
Growing your business
It takes time and effort to grow your business organically but to keep your operations sustainable an entrepreneur there’s a lot to consider from market opportunities including seeking out complementary businesses for acquisition, potentially divesting non-core businesses, outsourcing functions to increase time & cost efficiencies and potentially expanding into the emerging markets.
By developing a solid strategy for your growing enterprise the Bader Basch team can formulate all the possible areas for growth and can help you achieve new heights.
Governance
Registering and starting a family business is the easiest phase of your ambitions, sustaining the business beyond a generation is often the hardest part. Better governance by establishing a fair framework which includes a code of conduct which meets the expectations of all family members can help deal with matters or changes more constructively.
A family constitution will aid the family in making critical decisions by thinking through important scenarios and build consensus on mutual family agreement on the course of action to take.
Wealth
Creating your wealth hasn’t been any easy achievement but you’ve worked hard to build your business and it’s paid off. It’s almost time to step away but you want somebody to take the reigns and keep the empire you’ve built in good hands.
We can help you develop an estate plan for transferring wealth to your heirs and a succession plan for your business in a manner sensitive to your needs. Thinking about the future isn’t easy, mitigating the risks of your decisions can be difficult to avoid unplanned transactions including conflict.
Transition
Transitioning a family business comes with a unique set of challenges as it can disrupt personal relationships and cause conflict therefore planning ahead and garnering support is essential in making change possible and a smooth experience for family members.
We have the right business advisors who can assist and work with other family members on your behalf to manage any sensitivities that may arise from transitions including assessing implications which disgruntled family members might take, monitor any transaction or support your chosen successor.
Workforce
Your workforce is often the beating heart of everything you achieve as a family business, however along the way you’ll find hiccups which need addressing to retain the talent both family and nonfamily.
This includes development programmes, defining roles & responsibilities clearly, establishing an attractive remuneration package and your employment policies all of which require reviewing & attention.
Bader Basch can support this complex area of the business by building a structured people focused environment which motivates a better working culture.
Technology
We all need a bit of technological innovation sometimes as it shapes and improves the way companies operate and when the infrastructure is right there’s a sustainable advantage over your competitors. Together with our partners, Bader Basch can help you design, build and deliver technological solutions that meet your business needs.