Well-designed governance plays a key role in long-term sustainability of the family business. Governance helps to manage transitions, differences, and decision making with confidence and clarity. When executed well, family business governance structures can also guard against conflict.
How We Can Help
Assess Business and Family Needs
We evaluate ownership, staff, and business to design governance to achieve your long-term goals.
Evaluate and Maximize Board Effectiveness
We assess current structures and performance to enhance and improve.
Build Board and Governing Policies
We create structures, policies, and standards based on your need.
Create Advisory Board
We create effective advisory boards accessing our network with family business experience.
We coach directors and other stakeholders to help them succeed.
Family Business Board Recruitment: Unique Considerations
It is important independent and advisory board members understand the nature of family businesses to provide the best service. Continuity has a network of qualified candidates and can help in family business board recruitment.
Strong Boards Enhance Family Business Value
A well run board can be especially valuable during a succession planning process, supporting the next generation of family business leaders who are typically first-time executives. The board can provide guidance on:
- Corporate strategy
- Financial decisions
- Executive compensation and review
Formal independent boards, family-only boards, executive committees, and advisory boards can help resolve business-related conflict among managers, owners, and other family members.
A family business board of directors may be called upon for insight or accountability regarding a range of concerns, such as:
- The leadership succession process
- Family employment policy: leadership development, career planning, employee reviews and compensation
- Conflicts and communication
- Ownership issues, such as shareholder and voting agreements
- Family concerns, as represented by the family council
Learning about options in corporate governance structures can help family stakeholders implement the appropriate oversight to grow and manage their enterprise with greater clarity and confidence.
Since 2003, Continuity Family Business Consulting has helped families around the world build connected, intentional and productive futures. Headquartered in Boston, our advisors offer extensive experience and training in business, family systems, and conflict management.
We know how to effectively integrate the expertise of estate planners, CPAs, key non-family executives, and family business stakeholders – both in and out of the business – to produce plans that work as well for the business as they do for the family.