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EXPANDING THE FAMILY BUSINESS
How to recruit your children
By Justin Dowd
IT’S a common expectation for parents to want their children to be involved in the family business.
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GETTING THE STRUCTURE RIGHT
Agreements can avoid pitfalls
By Justin Dowd
THERE’S a unique dynamic that exists in family businesses.
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HANDING OVER CONTROL
Legal side to be aware of
By Justin Dowd
FAMILY business owners work tirelessly to make a success of their commercial entity, often pouring their heart and soul into the job.
KEYS TO COMMUNICATION
Do your FB meetings add value?
A COMMON misconception in family businesses is that if they can communicate effectively amongst the family members, they are well positioned for efficiently managing the business and achieving their goals.
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YOUR RELATIONSHIP WITH WEALTH
Moving from now to next
FIRST, understand what it is you own and how you own it. Then ask yourself Why? Understanding your relationship to wealth will be important in developing future plans.
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LEADERSHIP AND OWNER TRANSITION
Most FBs will appoint a new CEO
ACCORDING to an in-depth survey conducted by KPMG Australia, the performance of family businesses peak when the CEO is between 51 and 60. It then declines as the CEO approaches the age of 70 or older.
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FB PROTECTION CHECK-LIST
Strength lies in relationships
By Justin Dowd
Partner Watts McCray Lawyers
FAMILY businesses are truly the backbone of the Australian economy, accounting for 70% of all Australian businesses with an estimated wealth of $4.3 trillion.
