Services

Only a small percentage of family businesses survive beyond the first generation. Planning for a feasible transition from one group of owners to the next can greatly improve the odds for success.

It’s incredibly challenging to address and resolve important business issues without undue family influence. Family and business interests may sometimes be at odds and as a result, cause strife and separation, which negatively impacts the business.

To face the challenges of simultaneously managing a business and addressing family issues, it is often necessary to enlist the help of outside advisors who are able to lead family members through some of the difficult personal and business decisions.

Ownership and leadership transition strategies must incorporate a long-term plan to determine the scope of future management roles, the current and future involvement of family members,and the development of management capabilities to ensure business continuity.

How we can help
The experienced professionals at RSM McGladrey work with family-owned businesses to help maintain family harmony while making effective long- and short-term ownership and leadership succession transitions.

We recognize that each family-owned business faces its own set of opportunities and challenges. While some of the issues you encounter are shared by many family businesses, the relationships and family matters in your business are unique and personal. Our approach to succession planning is tailored to your needs and often includes the following:

• Conducting individual,confidential interviews with family members and other applicable employees to identify and prioritize issues
• Planning and facilitating a family meeting to discuss issues and recommend an action plan
• Helping with the implementation of the plan
• Evaluating the plan periodically

The final plan outlines issues, objectives, implementation responsibilities and timing. It facilitates constructive change and establishes leadership and decision-making authority.

There are several advantages to our succession planning services, including:

• Shapes business direction
• Improves family and business communications
• Clarifies the future ownership structure
• Develops a management succession plan and identifies future business leaders
• Encourages increased business planning efforts
• Resolves conflicts among family members and mediates family issues

Why RSM McGladrey
Our skilled consultants are experienced in dealing with a wide variety of situations, personalities and interpersonal relationships. As business advisors and family-sensitive practitioners, we facilitate positive discussion and planning that involves all stakeholders in your business.