Look at this US case. I have a similar one in Spain…It seems to be very common for some business owners not to dedicate themselves full time to their businesses. This is the best way to increase rivalry among family members with the great risk of losing both, the family and the business.
A concern with international outreach…
Small-business owners often complain of feeling caught in the cross hairs of the tax code. For a change, here’s good news.
The Tax Court has just blessed a new technique that owners of closely held businesses—and wealthy families—can use to pass assets to heirs with a minimum of taxes and complications. The ruling in the case, Wandry v. Commissioner, is stirring up excitement among experts
Even though very important, small business owners tend to try to solve everything by themselves. Do they know they might be wrong?
Even though many small firms struggle because their shareholders lack reliable references from the external world, it is very difficult to make entrepreneurs be aware of this need. Why does this happen?
In the second year of Dodd-Frank, executive compensation continues to be top of mind as proxies roll off the presses and say-on-pay votes are cast. As part of the season, there is no shortage of director conferences to attend to hone our director skills, particularly in the area of executive compensation. This is a good thing.
Recently, a prominent individual at an investment company was going to speak on a panel at one such conference. In preparation for the panel, he asked my opinion on two governance policy questions:
Look at this article in the Indian press. Last month I talked to a friend a mine, an estate planner, about the surprising amount of business owners that put their wealth at risk due to the deficient planning of their estate. This Monday I met another advisor, this time in Madrid. Surprisingly he mentioned the same problem. I wonder why these people that invested a considerable amount of time in building up their wealth just put it at risk due to lack of prevision.
Let’s face it, working for a family business isn’t considered by most professional managers to be a great career move. Many managers believe the career prospects will be limited, as the top jobs will most likely go to family members. Also, many picture themselves in the middle of a medieval court full of intrigues and fights between rival heirs, struggling to keep themselves impartial. So, no wonder family businesses have a tough time attracting talent!