Navigating business transition to the Next Generation
Passing a business to the next generation is about more than just profit – it’s about preserving a legacy. But it’s still a financial transaction. There can be advantages of passing it someone closer to home, like stability and safeguarding next generation career prospects. But there could be challenges too, including capital constraints, tax implications and family discord. Russell Prior, Managing Director and Regional Head of Family Governance, Family Office Advisory & Philanthropy, HSBC Private Banking in EMEA, and Andra Ilie, Senior Adviser, Family Governance, Family Office Advisory & Philanthropy, HSBC Private Banking in EMEA, help you shape a solid succession plan.
Exploring the key issues in business transition to the Next Generation
Passing on your business within the family
In a feature-length episode, we look at how passing on a business within a family can enhance an existing legacy (or create a new one). However, if managed incorrectly, it can undo a lifetime’s (or even generations of) achievement. Our expert panel tackles this emotive subject: How soon should you involve the next generation in your business? When is it appropriate to bring in external management? Have you considered the culture of the business and how it might change?
Establishing a family office
In this feature-length episode, our panel of experts discuss what a family office is, why you might need one and what some of the considerations are in setting one up. Managing family wealth comes with challenges and our experts will demonstrate that having a structured family office with a clear remit can mitigate risks and have clear benefits for the whole family.
Planning your personal future
In a feature-length episode, we discuss how to plan for your personal future. With inspirational insights from our panel of experts, we cover why you should think ahead to life after a sale, and how to find where your passions lie. From Angel Investing to Trusteeships, our webinar gives you scope to plan your future self and set yourself up for a rewarding next chapter.
Philanthropy
In a feature-length episode, we examine the why, what and how of philanthropy, and share ideas on how you can harness your passions and motivations in a philanthropic direction of your choosing. Some business owners have a clear view of what they want to achieve with their philanthropy after a business exit, yet for others it’s a completely new and exciting challenge.
Altruism, apprehension and accountability: Finding your philanthropic approach
In a world where the humanitarian, environmental and social issues in need of support are seemingly endless, how can you find peace of mind through your philanthropic approach, managing the complicated feelings it can stir, whilst creating a positive impact?
Building bridges with your family
When personal interests threaten to diverge or compete, could a family office be the nerve centre that maintains communication and safeguards core values?
Beyond Business Ownership series
Is Timing Everything?
If you want to speak to someone about business exit issues or transition, you can get in touch