Family Business

Family businesses make up a huge and important part of the UK economy, yet are often overlooked. We at Rowlinsons offer a range of services specifically for family businesses.

Balancing the needs of the business on the one hand, and the requirements of the family and the personalities, on the other hand, is not easy. Communication and consensus building are even more important in the context of the family business where the key players are related (and would still be so even if they ceased to be in business together). The dynamics are different from other businesses. We understand this.

What opportunities are there under the new Companies Act to simplify how you run a family company?

Another key issue is that of changing the generations. Is there a written plan for succession? Is there any exit strategy in place already? How early should you start planning the process? Who will take over the business and when? What roles should the children be given? Are they all suitable for management roles? Should the handover be a gradual process? How early should you start planning the process?

Is there an outsider who should be brought in to steady the ship? What stake in the business should they be allowed to buy?

These are all questions which we at Rowlinsons can help you answer.

For more information on any issues surrounding Family Business contact us on 01928 735333