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Family Business Event

Family Business Event

Tuesday 5 June 2018

Riverside Hotel, Irvine 9am - 11.30am

We are pleased to inform you that we are working on the content for our next event targeted specifically for our family businesses.  This event will be in partnership with Family Business Solutions and is sure to be one that will generate a lot of interest.  Due to demand from our business owners, one of the topics we have confirmed is Share Ownership in a Family Business.

Many managing owners considering succession planning have concerns about share ownership. When they retire, the company structure will change from a managing owner who may hold all or the majority of the share capital, to a completely different organizational structure, with some of their children succeeding them. This leads to several questions that need to be answered like: 

  • How will they divide the share capital if they want to pass on wealth?
  • Which members of the family should be allowed to own shares?
  • Who is family?
  • What type of shares will they be allowed to own?
  • What will the policy be regarding dividends, voting and capital?
  • Should a Trust be formed for a branch of the family?

There are clearly a number of options to be considered for the Shareholders’ Agreement and the aim of this session is to clearly explain what these are. 

Five signs of good owners:

1 View themselves as stewards of the business.

2 Consider the welfare of others – the business, the family, other owners,

employees, customers and society at large – as well as their own.

3 Educate themselves about business ownership.

4 Understand that ownership is a privilege.

5 Try to add value to the business.

 

Source: Adapted from Craig E. Aronoff & John L. Ward (2002) Family Business Ownership:

How To Be an Effective Shareholder. Marietta, GA: Family Enterprise Publishers.

Please book a place now via Anne Blacklock, Lead in Family Business Advising, Business Growth Team

anneblacklock@north-ayrshire.gov.uk  T: 01294 324928

Posted on Wednesday 9th May 2018