In an ideal world a family business would run smoothly and would pass seamlessly from generation to generation, so as to thrive continually without any rough edges or uncomfortable bumps.

We know this is not realistic, and we understand the many complex issues that are involved with running a family business. Our wide commercial experience and the enviable breadth of services that we offer, truly enable us to provide you with advice in the round.

The same problems arise in all businesses, but those where family members are involved need specialist advice and experience. Our family business team members have considerable personal commercial experience, and an understanding of how a business can fourish, given the different family dynamics.

We have 23 accredited specialists across a wide range of legal disciplines, and our departments work together to provide a seamless and unified service to our clients. We can guide you through the decision-making process, raising relevant issues for consideration so you can be assured that you are making an informed choice at all times.

To find out more about how we can be of help to your business, please see some useful topics below:

Governance

Getting governance right is important in any business, but is crucial in a family business, for the smooth day to day running of the business and to enable development of healthy, productive and rewarding family relationships. We can help you identify and address the main issues, and can provide project management skills to help you achieve your objectives. Please click here to view our Corporate services.

Succession

The question of succession is always forefront in our minds, as this is at the heart of the survival and continuation of the business. Succession can impact on many family business issues, including shareholder agreements, re-organisations and recruitment. Succession does not happen in a vacuum – there is a ripple effect, that can involve corporate structure, individual estate planning, and land ownership / lease assignments etc. It is never too early to start thinking about succession. Please click here to view our Private Client services.

Reorganisation

Whether starting a new business or running a mature commercial concern, it is helpful to review your business structure, to ensure it is right for your business. Partnerships, limited liability partnerships, private and public companies all have their place, and nobody can say “one size fits all.” We recognise that every family business is unique, and requires advice tailored to the particular requirement of your family business. There could be commercial and tax advantages to changing how you are structured, but choosing or changing a business structure must always be done for the right reasons. Please click here to view our Private Client and Corporate services.

Sale of the business

The proposed sale of a family business can throw up a huge range of issues, such as ownership of the business premises, the tax consequences of the sale for the business and the individuals who own it, the future role of family members who wish to remain involved in the business after completion of the sale, and restrictions on future activity of the business members. We regularly act in the sale and purchase of businesses, and have experience acting for purchasers as well as sellers; we know the main issues that cause difficulties, and can suggest ways to surmount the obstacles. Please click here to view our Commercial Real Estate, Corporate and Private Client services.

Employment

Family businesses involve unique employment issues: Should family members and non family be treated the same? Should family members be guaranteed a job in the family business even if they do not merit it? Should family members be paid in dividend rather than salary?

It is vital that the employment relationship be clearly defined, and that the business does not fall foul of the complex employment legislation. Clear and appropriate contracts and policies need to be provided, with the back-up of day-to-day practical advice and support. Our family business employment specialists can help you with all these matters and generally with employment legislation. Please click here to view our Employment services.

Family Charter

The Family Charter is a statement of agreed values, policies, aims and relationships regarding the business. It is very useful if there are more than two family members and also if there are any non-family members involved in running the business. Family members who are not shareholders can also participate in the Charter, for example if they have an interest by way of a family trust. Please click here to view our Family Charter page.

Property

If any aspect of the property is not the best for the business just now, it could be holding the business back from developing to its full potential. What was right five or ten years ago may no longer be the best solution nowadays. There is no universally right answer when it comes to property, as each business has different needs and desires. Our commercial real estate department can help focus on the relevant issues, and the pros and cons of ownership against leasing, manner of property holding, gearing, etc, as well as helping business tenants cope with the onerous obligations imposed in commercial leases. Please click here to view our  Commercial Real Estate services.

Trusts and Tax Planning

Is the business set up correctly so as to obtain the maximum tax advantages for the business itself and its owners? Is any previous activity by way of tax planning still the best way to proceed, given the continuously changing tax laws? Should a family trust be set up to own the business; should trusts be used for other reasons? Please click here to view our Private Client services.

Pensions

Does the business have a pension scheme? Are there problems with the pension scheme and its funding? We have pensions specialists who can help guide you through the maze of pensions legislation, and the mandatory rules with which businesses must comply. In a family business there are even more things to think about when it comes to pensions. Contact our Head of Pensions, Steven Dunn.

Dispute Resolution

Unfortunately, family businesses (as well as other enterprises) sometimes get involved in disputes. If the dispute is internal to the business, then the Family Charter should hopefully provide a solution. For disputes with other parties, properly worded terms and conditions of business will provide a helping hand to your business in identifying and asserting its rights and obligations. Our dispute resolution team is very experienced in handling a wide range of commercial disputes in all courts, and also in mediation and arbitration. Please click here to view our Dispute Resolution services.