In an increasingly complex world, good family governance is essential to ensure the continuity and growth of family businesses for generations to come.
Advisers such as lawyers and accountants can help to facilitate dialogue between the different generations of families who own and run such businesses.
Often working together with family offices, trusted professionals can also advise on and implement bespoke family governance structures through which families can hold and run their businesses and wealth.
Although the article is focussed specifically on Asia-Pacific, in fact, many of the points are universal.
Trusted advisers can bridge the gulf of communication between patriarchs and the next generation in Asia Pacific family businesses when creating much needed family constitutions.