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FAMILY BUSINESS NEWSLETTER [Click here for the 2006 Family Business Newsletter] [Click here for the 2005 Family Business Newsletter] Contents Include
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The need
Are you grappling with how to:
Integrate a family member successfully into management?
Pass the business onto the next generation?
Successfully motivate and reward non-family members?
Professionalise the management structures within the business?
Resolve a conflict within the business or the shareholders?
Take in a non-family shareholder?
Provide for family members on death – how to deal with those active in the business and those not?
Provide for a trustee, mentor or administrator for family interests in a business or asset.
Our client base is almost exclusively comprised of privately-held businesses. As such, we have hands-on experience in dealing with a wide range of family business situations. These include:
- Facilitating in the acceptance by disparate shareholders of the need for the sale of the business.
- Securing agreement to a financial restructuring with a major dilution of the family shareholdings in a case of chronic cash flow and trading problems.
- Mediating between shareholders in a (i) sibling fall-out and (ii) marital breakdown situations to ensure that the businesses could continue.
- Admitting non-family management to shareholding.
- Recruiting plc-quality management to a family company that had previously encountered inability to recruit high-achievers due to its perceived family status.
- Securing venture capital investment into family-owned and managed businesses.
- Tax planning and share restructuring for retirement, succession, inheritance, etc. – to provide for a balance between tax/ financial needs of involved and passive shareholders and the primary requirement for strong management and stability within the business.
- Securing acceptance from uninvolved shareholders to permit those involved to avoid interference in the running of the business.
We understand that family-owned businesses are fundamentally different and we at Horwath Bastow Charleton Limerick understand what makes them different.
We have all the resources under one roof to deal with all tax, pensions and financial aspects of your plans.
We have senior people who are good listeners and who command respect in fraught situations. We spend the time with people in their kitchen-boardrooms and front parlours – to understand their perspectives and explain our aims in the process.
Our experience in dealing with business strategy ensures that the hard issues are faced and that the solutions are straightforward and practicable. We do not recommend tax-driven solutions that are technically complex but ultimately commercially naïve.
We have experience at bringing disparate parties along with us in pursuit of a mutually agreed solution. We work hard at communications: keeping everyone up to date with the process; spelling out the issues, risks and benefits of any proposal; keeping confidence and yet getting everyone’s concerns addressed; and ensuring transparency.
Ultimately, we are not afraid to provide leadership in the face of conflicting alternatives and we have the experience and ability to guide your decisions.
Benefits to client of hiring us
We offer a mature, stabilising influence while addressing the real issues.
You know that our advice is independent and credible.
We can seamlessly and efficiently deliver the tax and financial planning advice in support of the overall strategy. Once agreement is reached, you do not have to go elsewhere for implementation; this avoids slippage and ensures that progress is maintained.
For further information contact:
| Con Quigley Brian McEnery |
E: cquigley@hbcl.ie E: bmcenery@hbcl.ie |
Horwath House, The Red Church, Henry St., Limerick, Ireland
T: + 353 (61) 310 311 F: + 353 (61) 31 88 99 E: Mail Addresses
Authorised by the Institute of Chartered Accountants in Ireland to carry on investment business.