Let’s face it. “Governance” often seems like a dirty word that is best avoided and never uttered. But, all family-owned businesses must be governed and the governance process is usually already in place, albeit often ignored.
This is a missed opportunity. Ignoring the governance process creates huge challenges for succession planning and the successful transfer of management and ownership – adding additional stress to what is already a very difficult process for both the family and the business. Patricia Angus’ article Six Ways to Improve Family Business Governance provides simple, practical ways that your advisors can help you better govern your business. We already do these things and more for several clients. Let us know if we can help you.
Bill Weigand provides strategic counsel to businesses, particularly in the food, agribusiness, manufacturing, and distribution industries. Many of Bill’s clients are multi-generational, family-owned businesses. Contact Bill at 206.757.8164 or BillWeigand@dwt.com.