Family councils are a vital element of family business governance. Done well they foster effective dialogue and decision-making and help ensure the long-term sustainability of the family business. This guide offers practical advice on establishing a family council.
Family councils are a vital element of good governance within the structure of family businesses. They serve as a vehicle for educating family members about their responsibilities, can help resolve family conflicts and play a central role in succession planning.
Done well Family Councils can foster effective dialogue and decision-making and help ensure the long-term sustainability of the family business. But setting up a family council takes careful planning.
The purpose of this guide is to provide practical advice and support for any family business looking to establish an effective family council.