Meetings & Councils
Many successful families in business hold at least annual family meetings which have both a formal business and social component, and a structured and unstructured component, and which are frequently held in locations away from the normal environments of the family.
We have extensive experience in arranging and facilitating family meetings. The structured or formal component of such meetings can include a discussion of a broad range of issues including performance reports for the business, further investment required in the business, investment opportunities available to the family either inside or outside the business, and issues of succession.
We can assist in the set up of a family council, which sits outside the family business structures and protects the interests of the family.
The benefits of family councils include:
- increased harmony and better relationships
- improved communication
- conflict is anticipated and managed
- the family is motivated
- the family values are agreed and applied
As such, family councils often result not only in positive benefits for the business, but also for the family and family members.