One of the biggest challenges associated with family business ownership is the difficulty that the current owners face in letting go of their business. Letting go is difficult for all owners and even more so for founders; however, in a family business the additional challenge presented by the family component increases the complexity of this process. Such issues include:
- Timing of the ownership transition including partial ownership transfers;
- Who can own shares in the family business and what criteria or plan is this based on;
- Spousal and in-law expectations with respect to ownership;
- Pre-determined exit strategies;
- Funding of ownership transition.
Our team of family business advisors will ensure that such ownership issues are dealt with in an effective and structured approach.