Governance refers to the structures, systems and processes concerned with ensuring an organisation’s overall direction, effectiveness, supervision (control) and accountability. Having formal governance structures assists open communication between family members, reduce internal conflicts, nurture the next generation of leaders, and develop a shared family vision for the future.
As a member of a family business with an impact on direction and strategy, it is important you meet your legal responsibilities - as you may be as liable as any director on the board. This workshop will help you understand the distinct legal responsibilities of running a family business, and key areas of personal and commercial risk. Identify the gaps in your current legal knowledge and leave armed with the next steps to ensure compliance in your family business.
Succession is one of the greatest challenges associated with running a family business. Every family business needs to start planning for their future leadership. Whatever your planning horizon is to transitioning your business, now is the time to start having the conversation.
Research indicates family businesses consistently out-perform non-family businesses in terms of return on investment and market value. So what are the advantages available to a family business that can make them more successful?
