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Family Enterprise Consulting
Services for families and individuals
Deloitte Private provides specialist advice to families and individuals to help them navigate complex challenges and decisions within a family enterprise.
Helping family businesses sustain resilience across generations
Family enterprises face unique challenges, such as dealing with the complex interplay of business and investment decisions, ownership issues and family relationships. Family Enterprise Consulting is a highly customised service offered by Deloitte Private to business and wealth-owning families. It takes on a multi-generational approach to assist family enterprise with succession planning, family governance and family constitution.
Family governance becomes extremely important as both the family and the business grow more complex. Governance helps families organise themselves, clarify decision-making processes to manage expectations, nurture the relationships among family members and guide the relationship between the family and the business.
Governance aims to reduce the impact of family disagreements and opaque decision-making which can be extremely detrimental to family harmony, growth of the family business and long-term financial security for future family members.
The family constitution, or set of family rules, is essentially a statement of shared values and general principles, outlining the vision of the business, its core values and the family's commitment to them.
Our well-experienced Family Enterprise Consulting specialists will work with you to understand the family and its current situation which will enable us to better identify the family’s values, aspirations, opportunities and risks with the aim of developing an effective family constitution.
Succession planning represents one of the biggest challenges for family enterprises. Determining both the future ownership and management of a family enterprise can be very sensitive, and a multitude of factors need to be taken into account. However, with the appropriate planning, communication, and inter-generational teamwork, family enterprise succession planning actually presents a tremendous opportunity for both the family and their enterprise to become stronger.
Our team works in close collaboration with families and facilitates discussions between key family members and/or non-family members in order to create succession plans that will enable a smooth transition from one generation to another.