Governance is often held out as the solution to anything and everything that is happening within a Family Business and that may be the case, but every family is unique and so ‘off the shelf’ solutions are unlikely to be effective.
More often than not it is actually the discussions with your family that are far more valuable than the physical output.
The topics covered in meaningful discussions about the things that really matter to you as a family can be documented within family governance such as a family charter, but without these discussions the family charter is meaningless.
Good family governance is the foundation of a successful family business and so knowing what is available and where to start is what we are here for.
This is your vision statement. This is where you define the purpose of the business and the role you want your family to play in achieving the vision.
This is a communication forum that creates a bridge between the Board of the family business and the family itself.
This is a gathering of all family members to discuss what is happening within the business. It is also an educational forum and an opportunity for bonding.
What are the benefits of good family governance?
There are many benefits to the introduction of good governance within a family business. It can improve communication, help to create emotional ownership of the business amongst family members not involved in the day to day running of the business.
It can help to set the overall direction of the business, increase the well-being of your family and help to avoid or at least manage any future conflicts.