Family business

Helping families and their businesses achieve their long-term goals


Top external challenges for family businesses

Hear Jim Ethier, chairman of Bush Brothers & Company, discuss the challenges of managing a family now and in the future.

As a family-owned business, you face unique challenges. You also have unique strengths. Where other companies might measure success in quarters, you measure them in generations. Like others that might uniquely focus on value, values play a critical role in your company.

Unlike other companies, a key underlying driver of the decisions you make is your goal to preserve and grow your company for the next generation. That goal can be compromised by family dynamics and non-business considerations that can easily derail even the most successful enterprise - particularly when events such as generational transition, or an external economic crisis take place.

At PwC, we know that successful family businesses generally have a good balance between professional management, responsible business ownership and a healthy family dynamic and can help you enhance the positive forces in your family enterprise while anticipating conflicts that may impact your ability to achieve your long term goals.

Questions we often hear:

  • How do I address succession planning if my heirs aren’t capable of running the business?
  • How do I preserve and grow my wealth?
  • Does my current business strategy support my long term succession goals? My shareholders are seeking liquidity; what are my options?
  • What are the key considerations in developing a governance policy for my business?
  • How do I establish the criteria for employing family members?
  • How do I deal with family conflicts over the management and strategy of the business?

PwC’s Family Business Services offers a team of professionals that can assist your family enterprise and help you build the lasting value you seek and meet the challenges you face.

How we can help

No matter what your size, industry or market, PwC’s family business advisors are there to assist you. Whether its strategy and growth, governance, planning for business transitions, managing your private wealth or putting your values and philanthropic vision into action, we have the people, skills, and presence to assist your family enterprise in building lasting value and meeting the challenges that you face head-on.

Please contact us for more information.