Family businesses are important economic nuclei for the development of a culture of entrepreneurship as the management passes from one generation to another. Every business organisation being big or small faces a unique set of challenges. Family businesses are no different. Family business owners must face and deal with a number of issues that are part and parcel in the building and running of a successful organisation. Nevertheless, many of these challenges arise and become complex when subsequent generations enter into the running of the business.
Although many of the challenges in a family run business are unique, most of the challenges are prompted by the uncertainty over the future of the business, having no formal procedure in place for resolving conflicts, the possible lack of talent in specific areas and the desire to maintain the status quo. When these challenges rise to the surface, it is extremely beneficial to obtain professional advice that helps family business leaders to navigate difficult family business issues. Family business owners must learn how to grow the family business while maintaining healthy family relationships. Consequently, a strategic plan for the business requires that a strategic succession planning for the family needs to be developed first.
Through understanding the challenges faced by businesses, MISCO consultants can provide the specialised expertise that focuses on the balance of interpersonal, operational, and financial issues to help family and closely held businesses achieve breakthrough success. MISCO explores and provides solutions for all organisations and family issues, decides on the best course of action, and implements plans and policies that will facilitate the family business to succeed for generations to come.
For more information please contact:
Ritienne Bondin or Susan Vella
E-mail: email@example.com / firstname.lastname@example.org