Family Business Succession Planning

BDO experts facilitate a smooth generational transition in family businesses, addressing family dynamics, tax, legal, finance, and governance.

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Solving the important questions

As a controlling family shareholder, you are concerned about the continuity of the family enterprise once you are looking forward to reduce your professional activities or if you consider to retire. 

Questions you might ask yourself are:

  • Is one or more of the family members ready to take responsibility? Are they well prepared? Does everybody get a fair chance? 
  • What is the value of the company? Can it be financed by the next generation? How to treat all heirs equally, also those who will not take responsibility into the family firm? 
  • How can the succession be structured in a fiscal attractive way? 
  • How will my role evolve as passing generation?  
  • How could this transition be organised in order to realise a smooth succession? How can discussion be avoided? 
  • How should good governance look like? 
  • How is my future financially secured when I scale down my responsibility as CEO/shareholder? 
  • … 

A smooth transition in a family firm is a well organised and planned process which takes time. A good preparation, open communication, evolving roles & responsibilities, external guidance,… are key aspects to take into account. 

How BDO can help

The experts of BDO apply a holistic view starting from an in-depth analysis of the family structure and history of the family businesses and the challenges ahead. 

A phased process will be defined - in close cooperation - where all involved stakeholders, all needs and concerns are identified. In the process, following aspects will be addressed in depth: 

  • Willingness and capabilities of the family members to take responsibility in accordance with the Family Charter (if available), coaching of the next generation, phasing out of the leaving organisation, … 
  • Financial aspects: valuation, mechanism of transfer of the control over your company, financing alternatives, financial structuring of the succession, ... 
  • Legal aspects: desired changes to the governance, group structure, roles & responsibilities.
  • Family governance: how to keep the non-operational family members involved and aligned and secure family harmony.
  • Estate planning: is there a necessity to transfer assets from a corporate to a more private structure taking the fiscal constraints into account.
  • Strategic planning: preparing the family business for future challenging of the industry in which it is active.
  • Preparing the company for sale if no valid candidates within your family are there to secure the continuity of the family firm and secure the value for the actual family shareholders.
  • ... 

This holistic approach characterised by an open atmosphere and consultation of the involved stakeholders, will guarantee a smooth transition of your family business. 

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