If you get to the right person in the banks, sensible conversations can be held with them, especially in 'distress situations' but finding the right person is the challenge!

Family businesses thrive when the interlocking dynamics of family, ownership, and management work in harmony, leveraging the strength of each role to drive growth and innovation. #FamilyBusiness

Some incredible businesses are family owned (tag Warburtons, JCB, Walmart, Walkers Shortbread and Arnold Clark) #FamilyBusiness Who are your favourites? Goodman Jones Howard Hackney Mairi Mickel Russell Reynolds Associates

The construction sector, with its cyclicality and high risks, presents unique challenges in work winning and determining profits on long-term contracts. Understanding the value of work in progress is key to financial management. #Construction #BusinessChallenges

When it comes to multigenerational family businesses and engaging non-family members in executive positions, ensure that there are proper service contracts for those in management roles and that there is a formal dividend policy too. #FamilyBusiness

Landed estates and agriculture businesses grapple with succession amidst low profits and high values. Funding these plans often requires significant compromise, highlighting the complexities of generational transitions. #LandedEstates #Agriculture #Succession

Negotiation processes can be complex because a potential purchaser wants to get the lowest possible price and the seller the best price but there needs to be consensus and in most cases there is usually a 'degree of unhappiness' for all parties when the deal is done!

Looking forward to the annual celebration of #familybusiness at The Great British Family Business Conference 2023 #GBFB2023 . Will you be there? SME Capital Birketts LLP Howard Hackney eventbrite.co.uk/e/the-great-br…

Family businesses are the engine room of the UK economy and it is a pleasure to work with them to help them address some of the unique challenges they face. #FamilyBusiness
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Caravan parks, often family-owned, command premium valuations but face succession planning challenges. Understanding IHT issues is crucial due to site fees not counting as trading for Business Relief purposes. #CaravanParks #SuccessionPlanning buff.ly/3vwpdeo

Where there is a will there is a way - it is so important to make sure that your will is up to date and conveys your estate in the way that you wish for it to be distributed. Review your will regularly to ensure it reflects your intentions buff.ly/48GEbMP

More and more work providing for education and nursery costs to get income via grandparents to utilise the personal allowance of their grandchildren. Did you know that everyone has a tax personal allowance including infants? #SeekAdvice #FamilyBusiness

Another caravan park wondering whether Business Property Relief is available for Inheritance Tax purposes. Not as easy as you might think. #SeekAdvice #FamilyBusiness #Caravan Parks

Norma Stewart Ben Fowler Berry Bros. & Rudd Howard Group Howard Hackney christian mancier LondonLovesBusiness Evelyn Partners AccXel RSM UK Barclays Bank Baroness Neville-Rolfe AFC Sudbury I(P)SWICH TOWN Breckland Orchard Mills & Reeve
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Father wants to give son first option to purchase a business from his estate on death but difficult conversations around individual wishes and what can actually be achieved from the estate to deal with the succession issue. Make sure plans can actually be achieved.

Looks like a shift beginning to happen in the market with banks appearing to be happy lending to partners in professional service firms on interest only arrangements.

Law firms & professional practices navigate the delicate balance between strict professional ethics and profitability. From unlimited partnerships to LLPs and limited companies, ownership structures require careful consideration. #LawFirms #SeekAdvice buff.ly/49DrH9o

Competing interests among family members, such as differing visions for the future direction of the business or unequal distributions of power and wealth, can fuel tension and conflict within family-owned enterprises. #CompetingInterests #ConflictResolution #FamilyBusiness

Landed estates & agriculture businesses represent heritage and tradition, but also face modern challenges in succession and financial management. Creative solutions are needed to preserve these legacies for generations to come. #LandedEstates #Agriculture buff.ly/3TyvPRu