Your business has a unique element that no other business has – the aspect of the family.

Your business has a unique element that no other business has – the aspect of the family. This difference can play a significant role in decision making and offers both opportunities and challenges. We understand that the growth and sustainability of your family business lies in the fine balance between the needs of the business and the expectations of your family members. With its knowledge and experience with family businesses around the world, KPMG Private Enterprise business advisers have worked with companies – large and small – to address the needs of the business, and the family.

Growth is an essential ingredient to continued business success. While most businesses can achieve growth organically, this can require considerable time and effort. In order to grow sustainably, entrepreneurial businesses must consider all of their market opportunities including seeking out complementary businesses for acquisition, potentially divesting non-core businesses, outsourcing functions to increase cost efficiencies and potentially expanding into the emerging markets. By developing a solid growth strategy for your company KPMG Private Enterprise advisers consider all the possible avenues for growth and can help you achieve new heights.

The need for effective risk management and controls is crucial in an environment of increased scrutiny. It is important to minimize these risks in an entrepreneurial business, not only for the business itself, but also for the family, property holdings and capital. Implementing controls, securing new financing, efficient tax management and optimization can all have a positive impact on the bottom line of your business.

As trusted business advisers, KPMG Private Enterprise member firms help clients manage the risks associated with their business, so that they don’t need to carry the burden alone. When it comes to financing, tax management and implementing controls, KPMG Private Enterprise advisers can help you be proactive and assess your risk areas and put strategies in place to help gain control.

Starting a family business is easy, relatively speaking; sustaining it beyond a couple of generations is the hardest part. It’s often said that the typical family business goes from rags to riches and back to rags in three generations. Better governance of a family business can help improve performance and satisfy the expectations of all family members. Establishing a governance framework that includes a family constitution and code of conduct for family members can help your family deal with changes in the business constructively. It requires your family to think through important scenarios before critical decisions have to be made and find agreement on important family and business goals. Implementing effective governance tools can help set up a family business for success down the road and help sustain the business through generations.

You’ve worked hard to build your business and make it a success. Now, as you look to the future, you want it to remain in good hands. At the same time, you want to maintain your personal wealth and pass it on to future generations.

KPMG Private Enterprise family business advisers can help you develop an estate plan for transferring wealth to your heirs and a succession plan for your business in a manner sensitive to your needs. By thinking about the future today, you can mitigate many of the risks associated with unplanned transactions, including family conflict and high probate and other fees.

Transitioning any business can be a difficult endeavor. Transitioning a family business comes with a unique set of challenges, with the potential for family conflict that may affect personal relationships. Planning ahead can make it a smooth experience for everyone.

KPMG Private Enterprise family business advisers can help you manage the sensitivities that come with transitions and provide confidential advice on the implications of any decisions your family might make. When the time comes, we can also help with either the transaction, or assist your successor take on his or her new role.

People are often at the center of all that we do, and this important element is often one that can cause many obstacles. From developing and retaining both family and non-family talent, to setting clear roles and responsibilities and establishing remuneration and employment policies; these areas require detailed review and attention.

KPMG Private Enterprise family business advisers will help you find the best ways to structure your people focused activities and help you to navigate this complex area of the business.

Technology innovation is shaping the way organizations operate, and getting it right can mean a sustainable advantage over your competition. KPMG Private Enterprise, together with our alliance partners, design, build, and deliver digitally-enabled technology solutions to help you build the right solutions for your business needs.

Family offices

Every family and individual are unique and so are their values and aspirations. Most families can govern themselves and their wealth successfully, however, there comes a time when external support is needed and having a form of family office may help.

A family office can be broadly defined as the infrastructure which supports a family to manage their financial and lifestyle affairs.

Family offices can range from a personal assistant helping with administration, through to a larger team of professionals focused exclusively on managing the family’s wealth. Most families find themselves best served by a solution somewhere in the middle, or a virtual family office with a lean in-house team supported by outsourced capabilities.

At KPMG, we understand the importance of supporting multi-generational families to achieve their joint and individual goals through effective operational structures. Ultimately, a family office can help save time, simplify decision-making and provide peace of mind, which together help enrich the lives of family members.

How we can support you

Our family office clients are currently drawing on the following areas of specialist expertise:

  • Family governance consulting
  • Strategic and operational reviews
  • Corporate governance, regulatory and compliance
  • Philanthropy 
  • Asset management consulting
  • Personal tax advisory and compliance
  • Corporate tax advisory and compliance
  • Corporate finance
  • Technology advisory
  • Financial risk management and compliance

Our family office advisers can draw on the wide experience from areas of our global network to suit our clients’ unique needs. Whether you are thinking about creating a family office for the first time or need to restructure a long-established operation, we can help.

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