Defining a family-owned business; why are they so complex?

Kevin introduces the concept of a Family Business

Podcast 1

A family business is about people and getting the people to work towards a shared vision.

Economies are built by family businesses, and that’s why it’s essential to make sure that they last through multiple generations. Family business organisations are complex, and they require a particular and specialised strategy, planning, and governance to function successfully.

Without the knowledge to build a family business, the founder generation inadvertently sets the family business up for failure. Problems in a family business are seldom financial or legal but rather behavioural. It is about getting along while pursuing an ideal shared future.

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