Owning a business is a lifelong role and a deeply personal commitment for entrepreneurs and promoter-families. Families have ownership preferences, from retaining a complete ownership and control of the business to separating ownership and management with non-family professionals running the business. Some families prefer to remain investors and others manage the business with a sense of trusteeship.
With transfer of business ownership from one generation to the other, there is also transfer of wealth and assets. For business sustainability, choosing successors and relinquishing control requires forethought. Successors need to play a responsible role of owners rather than taking their position as a birth right, an entitlement.
At Equations, we help families develop ownership strategy, succession, and estate planning to mitigate the possibility of conflict among beneficiaries during and after the lifetime of senior generation.