Leave a legacy
At BDO, we have worked with a number of owner-managed and family-owned businesses for many years. We understand that running your own business, or being in business with family, comes with many advantages as well as challenges.
While your business operates in the same macro environment as a listed company, for example, the ownership and reporting structure is different. And no two businesses are alike – there are different pressures and priorities. You may also have different reasons for starting and running your business – perhaps you wish to leave a legacy for your children, or you are passionate about the impact your business has on the lives of its employees and society at large. While your business may not be subject to all the same regulatory constraints as listed companies, issues such as good governance, risk, tax, sustainability, supply chain, and human resources will all impact your business at one time or another. Not to mention that appropriate accounting records and audits are essential when the time comes to pass the baton to your children, or if you wish to sell. Typical services in demand for this sector include management and financial advisory, mergers and acquisitions, valuations and legal support. Where circumstances demand, say in an insolvency situation, we can also act.
BDO has a range of audit, tax, specialist advisory and business outsourced services ideally suited to provide clarity to the family and owner-managed business. It’s more than what we do; it’s how we do it that makes the difference.
Contact a Family Business adviser