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Succession planning in family enterprises - Withers Consulting Group

A family enterprise is always striving to achieve a balance among the different interests of owners, the enterprise itself, and a number of individuals, couples, nuclear families as well as an extended family.
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Family business succession planning starts with a family conference | Toronto Star

Family business succession planning starts with a family conference  | Toronto Star | Withers Consulting | Scoop.it
Estate planning for family business means tough conversations involving children, with questions to be answered, such as, what are career ambitions?

Via Nady Bilani
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Nady Bilani's curator insight, April 1, 2013 10:26 AM

Talking: that is what it is all about!!!

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Thoughts and ideas on growing a business » Family businesses are different!

7 Attributes of Enduring Family Businesses

 

Recently I was contacted with a query on support for family businesses, and it led me to think about the many family owned companies we work with in Celtar. The high proportion of our family business clients is not surprising as there are c. 200,000 family owned businesses in Ireland.

Family owned and managed businesses have their own unique characteristics, a shared history and experience, loyalty and deep commitment.

 

In any SWOT Analysis there will be recognition of specific Strengths associated with a family enterprise. In the next column these self same Strengths can also be identified as Weaknesses.

 

As specialist SME advisers we have worked with first, second and third generation family owned businesses. These include business services firms, specialist contractors, distributors, a private hospital, manufacturers, tour operators, a materials handling company and many more.

 

Consulting firm McKinsey produced a paper called “The Five Attributes of Enduring Family Businesses” in 2010 (I have added two more attributes). They noted that one-third of the companies in the S&P 500 and 40% of the 250 largest companies in France and Germany were family businesses. Of course the term “family business” does not necessarily mean “small business.” While many of the conclusions McKinsey drew were applicable only to the largest multi-generation companies, there are lessons that apply to family businesses of all sizes and types. In this blog, I’ll describe McKinsey’s key success attributes along with some comments from our experience in Celtar.

 

http://celtar.ie/blog/smes/family-businesses-are-different/

 

To discuss how the issues in this article affect your family business you are welcome to contact me at billy.linehan@celtar.ie

 

Enterprise Ireland are holding a conference for family business clients on the 21st of May 2013, see below for details

http://www.enterprise-ireland.com/en/Events/OurEvents/Family-Business-Conference-21-May-2013/

 

 

Billy Linehan, Celtar, family business advisers Dublin


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Clearing out messy communication blockages - Business Spectator

Clearing out messy communication blockages
Business Spectator
Clearing out messy communication blockages. Leon Gettler 7 hours ago. Industries · Family Business.
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MyFunLife Complete Company Business and Compensation Plan Overview

http://MyFunLive.com A brand new business called MyFunLife jas just gone LIVE! This company has amazing ownership, mass appeal, phenomenal products, and a tr...
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A guide on family business succession planning - Alan Lewis ...

A guide on family business succession planning - Alan Lewis ... | Withers Consulting | Scoop.it
A checklist for family businesses considering succession planning in the next few years. Whether you decide to sell up or retire, it's important that you're prepared.

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