Praxity - global alliance of independent firms

09/06/2009  - Taking The Family Business Seriously 

A number of UK participating firms have co-sponsored a new guide for family businesses and their advisers.  These firms have worked closely with the International Centre for Families in Business for several years and have commissioned Centre directors John Tucker and Paul Andrews to produce Taking The Family Business Seriously which seeks to highlight some of the areas that cause issues amongst family businesses when they are not appropriately addressed.  Given the current economic climate and the need to work together in a family business with other family members to ensure that the business weathers the downturn, now, more than ever before issues surrounding management succession, employing family members, remunerating them, share ownership and communication are critical and need to be handled sensitively.

 Richard Frost, Chairman of The Praxity UK Working Party on Family Businesses noted “We recognise the issues facing our clients and have taken measures to ensure that our partners and staff really understand the needs of the family business community.  With many family business clients we are continuing to devote time and effort to the sector and see this guide as a positive step in delivering the necessary tools to help our clients to deal with the issues they face.  We are continuing to recognise the special qualities of the family business sector and are leading the way in the UK in devoting time and resources to address their needs.”

“The UK has thousands of successful family businesses,” says John Tucker, Director of The International Centre for Families in Business (‘ICFIB’).  “Whether you already work within the family business sector or see it as a vibrant expanding market for your products or services, Taking The Family Business Seriously gives you a perceptive insight into the complicated issues that family enterprises face.  It is the organizations that are prepared to address the real issues that stand the greatest chance of succeeding for generations to come.”

Taking The Family Business Seriously is available today.

For further information, or to obtain a copy, please contact one of the following Praxity participating firms in the UK: