When the realms of family and business intersect, the capacity for objective decision-making and business management can be diminished, because of the often emotional nature of family relationships. Establishing an effective governance system, including an effective reporting and dispute resolution process is vital for the healthy functioning of any organisation.
Naturally, businesses of different sizes and ownership structures have different requirements and require tailored governance strategies. Every business, particularly in today’s increasingly litigious environment, needs a well-functioning governance system. This is particularly relevant for family businesses, which are often complicated by a lack of formality and transparency in decision-making and organisation. It is also important for the happiness of non-family employees who operate within the family business structure.
Chapman Eastway’s Family Governance services include:
- Establishing effective governance models: decision-making, allocation of control, whistleblowing policies, OH&S, reporting, systems and procedures management
- Managing succession – new generation, new systems and new culture
- Family business dynamics – people and systems
- Financial advice: building security and relinquishing control
- Taxation services – ownership and succession
- Growing the family business – leadership, governance and strategy
- Improving communication – unifying plans, processes and structures
- Human Resources management: Employment, retrenchment, recruitment, contract development and negotiation