Running a Family Business

We have a history of acting for family owned businesses and take the time to get to know our clients and their businesses so that we can offer the tailored advice needed.

Our team draws together specialists from commercial law, commercial property, family law, dispute resolution and employment law so that we are able to give you the one-stop service that today’s business demands.

We can help with:

  • Shareholder or partnership agreements
  • Property and premises
  • Business transfers, sales and purchases
  • Succession planning
  • Disputes
  • Impact of divorce or separation on the family business

A family business can bring valuable benefits when compared to other business models; everyone is likely to be far more committed, share common values, enjoy closer relationships and have a flexible approach to working hours, etc.

But there are also common pitfalls that can cause significant problems for the family business. If you are starting a family business or thinking about changes to your existing business then our team may be able to help you tackle them, ideally before you go ahead and set up the business but also later when things are more established or when circumstances change. For example:

  • Will there be a majority shareholder or will it be held in equal shares? Will non-family members be able to hold shares?
  • How will shareholders be paid? Will it be in equal amounts or depend on certain factors? How will you decide how much profit will be distributed and how much left in the business for investment?
  • Should family members be employees or director or partners?
  • Should the family business be a partnership instead of limited company with shares?
  • How should the business property be owned or leases taken out?
  • Who will you hand the business over to when the time comes? Do they have the right skills or will they need training? Will they want to take the business over?
  • What arrangements do you make if things do not go quite so well or if there is a dispute?

We can help you find the right commercial and family solutions to your particular business issues. We can provide advice for the business itself or for individual business owners. We can help you in organising the ownership and strategic issues of the business but also with any legal questions on its day to day running.

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How we can help

Whether your family business is just starting up, looking for new legal support or just wanting supplemental information, our team will be able to offer the support you need. We can help with:

  • Terms and conditions of business
  • Website statutory disclosures
  • Contracts
  • Disputes
  • Debt recovery
  • Employment
  • Succession planning – Wills and probate
  • Succession planning – Tax and trusts
  • Leases and property

If you would like help setting up your family business, or would simply like more information about your options, please contact our team today.

Get in touch today