Owner managed businesses make up the majority of businesses in the UK and take many forms including sole traders, partnerships and private companies. The businesses for which we act range from recently established entities to those that have been around for many generations and each has its own particular characteristics. In the case of family businesses, whilst the family dynamic can often make for some very closely aligned and complementary teams it can often bring additional complexities and sensitivities. Issues such as succession planning, family representation at board level, non-family executive leadership, strategic planning and shareholder relations add layers of complexities to the ‘normal’ trading challenges faced by every business. What all owner managed businesses have in common however is that the individuals, boards and partners running such businesses are to a greater or lesser extent directly responsible for their own futures and the decisions they take can and do impact upon their personal wealth and financial security to a much greater extent than those of employed managers and directors.
Our family business specialists are drawn from our corporate and private client teams and all have extensive experience of working with a broad range of owner managed businesses and the individuals behind them. Together with other relevant specialists from other areas of the firm they provide joined up advice to shareholders, directors and other stakeholders covering all aspects of the legal issues that they may encounter in running their business and managing their personal affairs.
Through Shepherd & Wedderburn Financial, we can provide comprehensive independent advice to individuals, companies and partnerships to facilitate succession management, pension planning for business owners, and tax-efficient advice on optimal structuring of sale of your business alongside tailored wealth management and involvement advice.
To find out more about how our family business lawyers can assist please get in touch.