Business and Life
Business and Life is aimed and family business and business families. Written in a very accessible style by members of WJM’s Family Business team, it covers a wide range of topics of interest to business families including succession planning, remuneration and employment policies, inter-generational management issues and more.
The following issues of Business and Life are available to read here in PDF format. If you wish to subscribe to Business and Life, please visit our subscription page.
Your Guide to a Family Constitution
A ‘Family Constitution’ might sound terribly formal, but it is an important part of the life of every enterprising family.
In most families the “constitution”, or “the way we do things as a family”, is originally based on shared assumptions, understandings and expectations. This unwritten constitution is fine up to a point, the point being where the family has expanded and their business and other assets have become more complex. Then it becomes risky to assume that everyone with a stake in the family and the enterprise will all understand the assumptions etc about ”the way we do things.”
An increasing number of families - those who like to plan for their future rather than leave matters to chance – are supplementing their unwritten constitution with a bit more formality and organisation through a written Family Constitution.
This edition of Business and Life tells you more about Family Constitutions; what they can do for you, what they contain and how you start the process of creating one.
