As families grow and the business changes into a larger entity – communication is problematic:
• The three circle model for family business – interaction between shareholders, employees and family
• A family council can help corral the stakeholders into a common goal / direction
• Board of directors and corporate governance can play a key role
• Non-Executive directors and the role they should play is vital
• Board reporting and dashboards to simplify metrics.
This session will also cover the key issues to consider when family business needs to become more professional – corporatise management, introduce governance and board structures, family council.
Webinar Learning Outcomes:
Trends and statistics in family governance, stakeholder management, family council and communication, the three circle model of family business, tips and traps.
Accountants, financial planners and business coaches.
Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.
Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.
Craig’s practice Succession Plus is the largest Business succession and exit planning firm in Australia, with offices in every state and provides advice and strategy for clients looking to prepare their business for a successful exit.
You will be provided with:
• PowerPoint presentation slide deck
• Any Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
Outline of the key issues to consider when family business needs to become more professional.