Deloitte Family Business service offerings

Governance

Governance is essential. For family and owner managed businesses, there often comes a point where neither tradition nor experience is sufficient. Business growth, increase of family wealth and issues around succession and transition give rise to a need for a more structured governance framework. Governance is an ongoing commitment practiced by family members, the board of the company, shareholders and management.

Through a governance assessment, Deloitte professionals can help families and their businesses to identify and set up the most effective governance structure to communicate effectively, plan for the future, and maintain decisiveness and cohesiveness.

To achieve this goal, professionals from Consulting and Tax functions will cooperate to reach the optimum result.

Next generation and succession

Only one in three family businesses survive the transfer from its founders to their children. Organizing succession is not an event. As an emotional subject, succession planning needs to be carefully tailored to every situation - whilst the principles are similar, personalities and circumstances vary greatly. Organizing succession is a process which needs to be anticipated and prepared for.

But preparing the next generation is not an easy task. At Deloitte, we believe in a more proactive approach and can work with you to give next generation family members access to the development activities required to meet their goals and aspirations as well as meet the needs of the family and the business.

At Deloitte, professionals from Consulting and Tax & Legal can help you to organize your transition by creating and executing a succession plan dedicated to your specific requirements.

Tax planning

The tax landscape has changed in recent years such as increased income tax rates and reduced tax exemptions, but also in less obvious ways affecting businesses, individuals and trusts. Tax law factors are having an increased impact on family businesses, family members and their assets.

Deloitte Tax & Legal professionals help family-owned companies and its family members to understand, plan and execute effective business and tax strategies. Services include entity income tax planning and compliance services, individual tax, international tax, as well as choosing the right legal structures and other legal matters.

Risk and compliance

Family-owned companies have to deal with rules and regulations and should integrate compliance in their processes, facing continuous legislative and regulatory changes. Deloitte can help to implement compliance processes and make them part of governance and risk management. Deloitte Audit professionals can support you in analyzing and optimizing your business processes to get your overall risk profile under control.

Our tools and methodology based on prevention and detection can transform your risks into strengths.

Innovation

Nowadays business environments are constantly evolving due to rapid growth of enabling and disruptive technologies and aggressive international competition. As the pace of change continues to increase, innovation is imperative for all organizations, including family businesses. Both the marketplace and customers demand it.

Deloitte Consulting professionals can help families in business by disrupting conventional thinking, spurring creativity, bringing about new perspectives which lead to tangible solutions - taking families in business outside of their everyday environments. We can also help family business to gain the most out of data analytics, by using digital technologies to prevent them from cyber-related risks all - from strategy to enablement to operations.

Growth and profitability

Just like any other company, family-owned companies are seeking to grow their business and they need a strategy that serves the goals of both the business and the family. Successful family companies are usually looking for sustainable long-term growth and operational performance in order to avoid negative impact on the family’s wealth and control of the business. Growth, either organically or through acquisitions and transactions such as strategic partnerships or joint ventures; can offer family-owned companies, of all sizes, opportunities to diversify their operations, expand in other geographies, reach new customers, and tap into new sources for materials and talent.

Deloitte Consulting can help families in business to develop growth strategies and to reach operational excellence. Deloitte Financial Advisory helps to find growth opportunities and facilitates the growth process by M&A transactions, whilst monitoring the risks that could come with growth.

Capital & funding

Family businesses are known for their vigilant management of cash and their ability to fund on-going business and growth plans with reasonable debt. However, today the competition for liquidity has become more intense so family businesses could be faced with more challenges when seeking to manage their liquidity such as external capital to fund on-going business and expansion plans. How can family businesses maintain control while ensuring that they have capital at their disposal, if they wish to expand their business through, for example, acquisitions or long-term investments?

Raising, investing, preserving and optimizing capital are the priorities of a family firm. At Deloitte Audit and Financial Advisory Services we provide financial advice and insight at every stage of your firm– from consideration of the strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal.

Family office

Effective family wealth management encompasses a range of issues related to not only business objectives, but also personal and family goals. Wealthy families often consider establishing a family office to manage their investments, reporting, and financial responsibilities. Structuring and staffing a family office requires an analysis of tax and governance considerations, as well as a deep understanding of the family’s short and long term business and professional goals and objectives.

Deloitte Tax & Legal international professionals can assist with family office design and set-up, family education and communications and private foundations, and structuring business investments. This approach addresses both the family office as a business and the private client’s family wealth as an on-going enterprise.

Social impact

Social impact is a relatively new concept. It has its origins in the U.S. where there is a long tradition of involving families in charitable giving, through creating their own personal foundations.

At Deloitte Tax & Legal, we assist you and/or your family in achieving your social impact objectives. This could involve recommending the most tax efficient ways of structuring your giving, assisting you in developing tailored strategies and structures to achieve your goals, and/or reviewing investment managers to ensure that they follow the family’s investment mandate.