Wise business plans

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Wise business plans

Generally speaking, these businesses tend to have been family owned for several generations.

wise business plans

They tend to operate conservatively with an emphasis on long-term stability, continuity of ownership, independence, innovation and emotional attachment. These businesses often make significant investments in social responsibility, employee benefits, wellbeing and regional development.

As a result, these businesses tend to generate loyalty and goodwill from management, employees and the wider community. Above all, these businesses tend to be very successful.

Whilst the sector is nowhere near as renowned or well performing in global terms, it is the lifeblood of the economy. Furthermore, the valuations of some of these businesses and I include family farms in this have increased exponentially in recent decades due to a combination of factors including sound management, good governance, cheap credit, favorable trading conditions, low sovereign risk, underlying asset inflation and calculated risk taking.

The family business succession conundrum Much has been made of a pending tidal wave of family business succession and liquidity events as the Baby Boomer generation transfers assets and control to the next generation, whether in a planned and orderly fashion wise business plans as a public listing, trade sale, private equity sale, MBO or phased family succession or otherwise forced by events and circumstances such as death or incapacity.

However, in my experience, significant psychological obstacles are leading to a disconnect between strategy and execution in this area. What I mean is that family business owners, lawyers, accountants and bankers all know that succession planning wise business plans important but we often fail to fully grasp the human elements at play.


Make no mistake, this is not a science, it is all about human behavior around money which is often irrational. Sometimes intellectually brilliant succession plans are formulated but never see the light of day.

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A consequence of this can be that even the most diligent business owners often neglect or avoid having meaningful succession discussions. By the time they really need to engage their position may be weakened and valuations compromised.

Some succession plans may be more complex and anticipate equity sharing between siblings, capital raising public or privatediversification, expansion into new markets or restrictions on issuing equity to non-family members.

For some wealthy families the succession plan might be contained within a charter or constitution which governs the family and its various business and investment entities. For other families, the succession plan may be as simple as having a trust whether created before or on death which holds equity in the family business and a detailed memorandum to deal with the devolution of control and guide the trustees in the exercise of discretionary powers.

Some business owners may wish to hard wire the future direction of the business by imposing very prescribed rules on the next generation. Others may be willing to be more flexible and allow them to work within a framework of guiding principles, rather than rules.

Philanthropy may also be an important feature in any such plan. Best outcomes In my experience, the best outcomes: A well-designed family business succession plan can articulate the vision and values of the founders and help ensure a smooth transition to new owners or the next generation.

There are many examples where careful and sometimes innovative planning has led to the aggregation of wealth and inter-generational prosperity for future generations of the family and the communities in which they live and work. The challenge is to overcome the disconnect between strategy and execution.

Here’s how it works

Henry Brandts-Giesen heads the KensingtonSwan private wealth team. He is an experienced corporate and commercial lawyer who is an expert in helping individuals and families structure their assets.

Henry routinely advises high net worth individuals and families, athletes, entrepreneurs and captains of industry as well as ordinary New Zealanders and their businesses. Henry provides specialist legal advice to wealthy migrants to, and investors in, New Zealand, and helps them to buy assets, such as land and businesses.

Henry is an expert in trust law, and can set up and run trusts and other arrangements such as wills and relationship property agreements.

He is a strong advocate for proper governance and administration of trusts and companies. Henry is frequently involved in resolving family disputes, the interplay between trusts and relationship dissolution, and applications to court for orders relevant to trusts. He has acted for prominent clients in several reported judgments and settled cases.

If you own a business Henry can help with succession planning to ensure a smooth transfer between the generations. If you decide you want to sell the business he can help prepare it for sale, manage the sale process, then help you structure the proceeds of the sale. Henry also assists trustees, financial institutions, accountants and other law firms to manage fiduciary risk and regulatory compliance.

Contact Henry at henry.Wealthy and Wise's unique optimization ensures the client's Net Worth is maximized. In the case above, the optimized Net Worth is significantly increased by over . Insurance Business Plans - Find cheap insurance quotes online. We compare insurance policies available through top companies to find you the best deal.

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