Defining the Family Business

We often use the term “family business” without having a clear definition of just what a family business really is. Coming up with such a definition is more difficult than it might at first seem, but it would be helpful for any number of reasons. A...

Due Diligence Explained

You may have heard about “due diligence” when a business is being sold or taken over and wondered what it meant. If you want to sell or buy a business of your own you’ll certainly need to know just what due diligence means and how it’s applied....

Grooming the Successor in a Family Business

The majority of businesses in most countries are classified as family businesses. A family business is any business is which a majority of the ownership or control rests within a family. It might be that just one member works in the business while others serve as...