Succession from within the family

Do you have an opportunity to take over the family business? Succession from within the family is a specific focal area in the working area of advising and supervising company takeovers. The general objective is that succession from within the family business takes place as smoothly as possible. It would appear to be a natural process, for one reason because the business is being handed down from one generation to another. Nevertheless, in practice a planned, and perhaps almost automatic, transfer of the business within the family can be fraught with all kinds of pitfalls. The commercial interests of a company transfer are diametrically opposed to the interests of the family as a whole.

Close involvement

In the context of succession from within the family, important elements such as the financial and legal sides of a company takeover process are affected by the emotional element, more than is normally the case. Our experience in all kinds of different situations shows that the emotional aspect of a succession is the basis of everything, while the close involvement of entrepreneurs is, at the same time, their weakness.

Specific approach

This requires a specific approach. By combining knowledge and experience with an understanding of the mutual relationships of all parties involved we are able to optimise the process of succession within the family. Are you interested in how Sophista can assist during your succession process? Please feel free to contact us!  

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