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For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations
Using a combination of reason and instinct, we can work with clients to develop a strategy that helps them understand and manage their tax liability in a transparent and ethical way.
Having a proper governance structure is essential to ensure that the family and business strategies are achieved. Grant Thornton can advise on this, and facilitate the implementation of the ideal governance structure based on the exact scenario.
There are many 'exit strategies' that need to be considered to minimise the risk of conflict. They can arise from the eventual exit of a family member from the ownership ranks and can have many causes. See how we can help.
Preparing the next generation for leadership and ownership is an integral part of any succession process. Grant Thornton can help formulate the necessary grooming plan for all the potential successors.
Like all companies, family businesses need finance. As an ongoing business concern looking at expanding, when it comes to raising capital, it’s important that this is done wisely to minimise the risk of collateral damage.
Letting go of your family business 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. Our team of family business advisors will ensure that such ownership issues are dealt with in an effective and structured approach.
By implementing our family business guidelines to family succession and a proper governance structure, the management succession process can be completed with minimal conflict and will result in the most competent successor being chosen.
For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations
Preparing the next generation for leadership and ownership is an integral part of any succession process. Grant Thornton can help formulate the necessary grooming plan for all the potential successors.
Using a combination of reason and instinct, we can work with clients to develop a strategy that helps them understand and manage their tax liability in a transparent and ethical way.
Like all companies, family businesses need finance. As an ongoing business concern looking at expanding, when it comes to raising capital, it’s important that this is done wisely to minimise the risk of collateral damage.
Having a proper governance structure is essential to ensure that the family and business strategies are achieved. Grant Thornton can advise on this, and facilitate the implementation of the ideal governance structure based on the exact scenario.
Letting go of your family business 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. Our team of family business advisors will ensure that such ownership issues are dealt with in an effective and structured approach.
There are many 'exit strategies' that need to be considered to minimise the risk of conflict. They can arise from the eventual exit of a family member from the ownership ranks and can have many causes. See how we can help.
By implementing our family business guidelines to family succession and a proper governance structure, the management succession process can be completed with minimal conflict and will result in the most competent successor being chosen.
The Corinthia, Sterling, Gasan and Farsons groups are just some of Malta’s most enduring brands and favourite products that have been created by family firms. With almost 4,000 family businesses registered in Malta, this cluster of enterprises is truly the backbone of our industry.
What makes this type of business central to the Maltese economy is the sheer diversity of their structures. Despite the common perception that family businesses tend to be small in size, this may not be the case. A brief analysis shows that they come in various sizes, which exposes them to a whole myriad of difficulties and challenges. It is thus safe to say that defining a family firm or a business can be a treacherous exercise.
Co-preneurs (couples who have gone into business together), step-families, siblings, cousins and other family groups can form family businesses. The family may own and manage the firm, or have a stake in the family business, but no longer actively lead the organisation.
A quick study of the local economy will also indicate that a few family businesses account for a considerable share of the total turnover of all businesses and thus make a significant contribution to job retention. This is especially important in times of crisis, as well as for ongoing creation and growth, fueling the economic engines of the Maltese islands.
Family businesses also serve as the brains behind innovation, the heart behind local philanthropy, and the nerve system of our entire free enterprise system. This is often thanks to the core values endorsed by such businesses, whose set of timeless guiding principles, have an intrinsic value and importance to those inside the organisation, its customers and society at large.
Family enterprises facing indecision or internal conflict rely on the broad and globally tested expertise of Grant Thornton to create and implement solutions that address their unique challenges and opportunities.
Grant Thornton’s family business advisory team assists families, owners, and managers in navigating the challenges of leadership, succession, and governance across generations. As a $5 billion global organisation with member firms in more than 135 countries, and with decades of experience serving some of the world’s finest family companies.
We know that the critical first step in this journey is to build alignment among family members around the family’s philosophy and approach to business and ownership. With this in mind, we work closely with family members and owners to create an environment conducive to driving the best people decisions in their specific context.
Despite their inherent strengths and global economic significance, family-owned companies face unique vulnerabilities. Potential sources of discord among family members loom around every corner: generational transitions, major investment decisions, appropriation of profits and leadership appointments. After all, why should entrepreneurial families be less quarrelsome than any other group of relatives? The consequences of their disputes, however, can be more serious and far-reaching. Conflict is, perhaps, the greatest destroyer of value in family firms.
For family-owned companies to sustain dynamic progress across generations, they need to manage the inherent conflict between family and business on a consistent basis. Finding an equilibrium that leverages the best aspects of both family and business is difficult, but if done well, it offers handsome rewards. This is the art of family business management.
Our solutions for family enterprises centre on the alignment of all aspects of the family and business, including culture, vision, mission, values, governance, ownership, leadership, communication and policy development. This alignment eliminates conflict that undermines success and clears the way for stronger competitive advantage, enhanced family harmony, and a greater likelihood of long-term enterprise continuity.
We take a holistic approach to a wide variety of activities including proactive family education, family councils, board development, family meeting facilitation, conflict management and resolution, financial and business strategy, succession planning, management and leadership development and more.
Our areas of expertise when dealing with family business include:
