Family business

At Grant Thornton we specialise in advising family businesses, which is why we have a dedicated service to assist business owners to manage the situations that can arise when family or personal values comes into conflict with the needs of the business.

We offer a distinctive approach to understanding the complex relationship issues that arise between the individuals who own and manage a business and the business itself. By identifying the overlaps and potential conflicts between family, ownership and management goals, we help find solutions tailored to the owner-manager's overall needs and circumstances.

We take a unique approach to tackling the problems. Our methodology takes a distinctive step-by-step approach identifying the overlaps and potential conflicts between one or more families ownership and management goals.

In developing our methodology we became aware that there was a shortage of formal research in the area of owner-managed and family businesses; we have carried out surveys on a worldwide basis in order to truly establish the needs of this sector.

In New Zealand research was conducted by the University of Canterbury. This research has provided valuable insights into the views of owner-managers and family businesses and the issues which are of particular interest to them.
Some key findings:

• 56% of respondents disagreed that "children should only receive shares on the death of the previous generation" (in UK 76%)
• 67% of respondents thought children who join the business should start at the bottom
• 91% of New Zealand business owners interviewed consider their business to be a family business
• Respondents strongly agreed that family and business affairs should be kept separate
• 14% of respondents were the second generation in the family business.

Your next step

For further information on how Grant Thornton can help you please contact:
Auckland: info.auckland@nz.gt.com
Christchurch: info.christchurch@nz.gt.com
Wellington: info.wellington@nz.gt.com