Course description
There are unique dynamics of family businesses, which makes them different from non-family businesses. Family firms face complex issues that affect not only the destiny of the business itself, but also that of the proprietor, their families and their employees.
This virtual classroom session addresses how the business proprietor reconciles his/her own and their families’ aspirations with the commercial goals of the business, and its long-term sustainability, recognising that if you look after the business, the business will look after the family through generations.
It is presented by Feargal McCormack, the current President of Chartered Accountants Ireland and the Managing Partner of PKF-FPM Accountants, and Richard Johnston, Chartered Financial Planner at AAB Wealth who works with a wide range of private clients giving advice in the realm of pensions, tax, investments and estate planning.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
There are unique dynamics of family businesses, which makes them different from non-family businesses. Family firms face complex issues that affect not only the destiny of the business itself, but also that of the proprietor, their families and their employees.
This virtual classroom session addresses how the business proprietor reconciles his/her own and their families’ aspirations with the commercial goals of the business, and its long-term sustainability, recognising that if you look after the business, the business will look after the family through generations.
What You Will Learn
This live and interactive course will cover the following:
- The dynamics of a family business and the needs of different stakeholders, including family and non-family, highlighted by the 3 circle model of family business
- Implementing an overarching governance strategy that complements good business practices with de-risking and maximizing family wealth
- Business succession issues and options
- Family financial peace of mind and financial security incorporating wealth management and efficient tax planning
- Balance between ongoing cash withdrawals and building up balance sheet and restructuring
- Managing the transition of family business and wealth (including non-business assets) via a family agreement and practical tips on commercial issues regarding legal documents such as shareholder & partnership agreements
- Wealth matrix
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...