Strategic planning for ownership is key to any successful business and with family offices, this consideration holds even more significance. Therefore, important advantages of this include:
- Critical buy-in by all family shareholders with respect to management
- Enhanced support from staff for evolution of the business
- Better guidelines and procedures for shareholders
- A more efficient Board of Directors
- Clearer guidelines for stock transfer
- Enhanced communication lines to all parties on strategic decisions
BGI will consult with families to conceptualize training programs for owners in order that they properly comprehend the structure and associated rules of the ownership structure. This should foster an environment of empowerment and involvement.