Latest News

A guide to family business succession planning

Friday, 11 February 2022

Succession planning is one of the most sensitive issues, and COVID-19 appears to have concentrated minds in this area.   Topics such as

 

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Tánaiste and Minister Donohoe launch new €90m fund for Irish start-ups

Thursday, 10 February 2022

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD and the Minister for Finance, Paschal Donohoe TD launched a new

 

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EFB-KPMG 2020 Global Tax Monitor

Thursday, 03 December 2020

In this challenging year, KPMG have explored the situation of taxation on family businesses in 54 countries and territories in order to offer an

 

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Services

Conflict Resolution


Husband/Wife, Parent/Child, Brother/Sister, etc. Family is all about togetherness, but togetherness is impossible without differences… thus family conflict. Family conflict resolution uses the positive emotional bonds of the family to facilitate decisions and actions in the face of conflict that has persisted and poisoned the family and the family business.

 

Succession Planning


Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company.

Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available.

Leadership Development


Leadership is "organizing a group of people to achieve a common goal".
Real leaders peer into the future, seek new paths and new ways for doing business, and continually reinvent and re-engineer themselves and their companies.


Estate Planning


Estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.

 

Management


Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.

Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal

Governance


Governance is the act of governing. It relates to consistent management, cohesive policies, guidance, processes and decision-rights for a given area of responsibility.


Family Governance covers two broad topics: governance of the business and governance of the family. Most family businesses, especially in the formative years, take on the characteristics of the founder or founding family. Although this entrepreneurial model works, as a company grows in size it needs gradual evolution to a different model. Boards of Advisors, Boards of Directors, and Professional Management are some of the ways to improve the governance of the business.

 

Family governance is a more subtle topic. Most families find that as they grow there is a need to formally discuss family issues like estate plans, family business leadership transition, and family fairness. Families find that some of the best venues to do this are through Family Councils, Family Retreats, and formal Family Meetings.