Outsourced advice for family enterprises: together for success

What ambitions do you have for your family business? You may have a family-owned business that you would like to pass to the next generation or a high-wealth family group which is navigating the complexities of wealth management and transition. Each family enterprise is unique in their goals, operations, relationships and requirements.

While your family business operates in the same macro environment as a listed company, the ownership and reporting structure is different. And no two businesses are alike – there are different pressures and priorities. You may also have had different reasons for starting and running your business. Perhaps you wish to leave a legacy for your children or you are passionate about the impact your business has on the lives of its employees and society at large. 

Your family business may not be subject to all the same regulatory constraints as listed companies but issues such as good governance, risk, tax, sustainability, supply chain and human resources will all impact your business at one time or another. Not to mention that appropriate accounting records and audits are essential when the time comes to pass the baton to your children or if you wish to sell. 

Typical services in demand for a family enterprise include advice on management and finance, mergers and acquisitions, valuations and legal support. Where circumstances demand, say for an opportunity, a dispute or in an insolvency situation, we can also act.

How our BSO experts can help

At BDO, we have worked with a number of owner-managed and family-owned businesses for many years. We understand that running your own business, or being in business with family, comes with many advantages, as well as challenges.

The unique dynamics of a family business can often present challenges not faced by other business models, including the impact of emotional ties, complex relationships and competing family and business demands. Our family business advisers understand the unique challenges faced by South African families in business. We specialise in providing co-ordinated services to meet your specific needs, underpinned by a trusted relationship and expert advice.

BDO has a range of audit, tax, specialist advisory and business outsourced services ideally suited to provide clarity to the family and owner-managed business. It is more than what we do; it is how we do it that makes the difference.

BDO family office services

Families and family groups (often high wealth) need expert, bespoke support to ensure the protection, growth and successful transition of the family wealth and assets to the next generation. Our family office advisers provide holistic solutions to single and multi-family offices, built on technical expertise and a deep understanding of your unique family circumstances and priorities. This includes advice on:

• Estate planning and wills
• Family governance and charters
• Succession planning.

Contact us today to discuss your needs.
 

SPEAK TO OUR TEAM

Speak with an adviser at your nearest BSO office:

• Call us toll free from within South Africa: 087 503 5276 (BSO)
• Click here to send an email.