Family Business Services

Helping family businesses to grow and protect their future

As specialist family business advisers, we understand that family and business can be two very different and conflicting systems at work.

With a wealth of experience in supporting the long term future of many family owned businesses, we can help you to establish comprehensive strategies, design a business structure which meets both family and commercial objectives and help you achieve strong business performance.

We know that keeping a business in the family isn’t always easy – understanding the passions and ambitions that drive the family and then applying these to the business needs and vision is critical. Of equal importance is forward planning to ensure the succession of the business to the next generation is as smooth as possible, both for the family members and the business.

Our unique approach helps family businesses review and optimise the key factors which contribute to sustained growth and longevity. We’ll spend time getting to know you and your business and work with you to ensure alignment of your family and business vision, values and goals.

Family Business Experts

Our Services

How we can help:

Strategic business planning
Governance for the family
Succession and continuity planning
Tax efficient remuneration planning
Profit extraction
International expansion
Accounting and Payroll
Business Protection
Personal and business financial planning
Digital strategy and cyber security

Our unique software platform helps businesses flourish

Family Business Connect is our unique and innovative software platform that helps family and owner-managed businesses identify opportunities, reduce risks and safeguard their futures.

Based around the traditional structure of a house, it provides access to information, support and guidance on the unique challenges’ family businesses face.

There are seven rooms to visit, each one focusing on a different issue:

Each room explores business needs, discusses potential problems, and provides relevant knowledge, options and advice to help family business leaders make better, more informed decisions.

You can navigate the rooms of the house according to individual or business goals. Your adviser will work closely with you to identify opportunities to add real value to your family and your business.

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Click on the rooms of the house to explore further…

What are the benefits of Family Business Connect?

“Balancing life and running a successful family business is not easy. That is why many of our clients have used Family Business Connect to help them achieve both family and business objectives.”

Paul Butler
Partner & Head of Family Business
Email Paul

Our role at PKF Francis Clark is to use our vast, hands-on experience and the resources available across the PKF global network https://www.pkf.com/ to help family and owner-managed businesses ask the right questions, develop bespoke solutions and strengthen decision-making.

PKF member firms have worked closely with family businesses across the globe for many years. They are leaders in analysing what makes family businesses successful, where support is most needed, and what kinds of solutions provide most value.

It is this in-depth knowledge and experience that has enabled us to take our support for family businesses to another level with Family Business Connect. It is a bespoke service to help family and owner managed business to grow and prosper, preserve and enhance their family’s wealth and to future-proof the business for future generations.

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How to use Family Business Connect

Each room of the house contains a wealth of information, guidance and support to enable you and your adviser to discuss the best options for your business. Within each room are a further three levels of information, providing additional insights and ideas according to your business’ pace and priorities.

Working with your adviser, you’ll use an assessment matrix to gauge your current position in each room of the house. The matrix acts as a blueprint to identify areas of your business that need attention and develop strategies to address those areas. The objective is to improve the wealth of the family and secure the success of the business.

Wealth preservation

What does living a wealthy life mean to you? How do you know when you’ve achieved success? It is vital to establish a clear understanding of assets within the business, the values and the wealth management goals that family members want to achieve, and how to deliver a strategic plan to achieve these ambitions.

Increasing business value

Do you have an accurate idea of what your business is currently worth? Have you identified a strategy for future growth? Worth in a family business isn’t always a financial value. Legacy, status, purpose and identity are often important too.

Succession and options

How well are you planning for the future of the business? Succession is often one of the most important issues for family businesses. Yet it remains a challenge to many. Our research shows that over 90% of family businesses have no detailed, agreed succession plan.

Incentivise key staff

Do you have a clear view of who is most critical to your business? The ability to lead the business and drive future success lies with your team. So how do you best protect them and incentivise them now and into the future?

Remunerating family

Does the business serve the family or does the family serve the business? How clear are you about the family’s hopes, expectations and needs? There are an overwhelming number of options when considering remunerating family, especially as the business, shareholding and family grows and becomes more diverse.

Barriers to growth

What is the most significant barrier or challenge for your business now? What does your definition of success look like? From financial planning or the impact of new regulations, to how your senior people may hold you back, this section looks at what might be hindering your business’s potential.

Risks to the business

What is the biggest risk to your business right now? How well prepared are you for possible future events? To fully protect your future and safeguard the work you have put in to getting to where you are, it is important to build resilience and contingency plans for a range of situations, including family disputes.

Family Business Connect is just the beginning of your journey towards a more secure, more sustainable, and more profitable future for your business and your family.

A journey through the Family Business Connect house with a dedicated and highly experienced adviser will safeguard your position and help you to identify opportunities that add real value to your family and your business.

To further explore and benefit from the Family Business Connect platform, contact one of our friendly, specialist advisers located in our offices across the South West or book a free consultation today

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