6 key facets to a successful family enterprise

A family enterprise can be recognized today as an important and distinct organization in the world economy, operating in every country. Although family businesses have been described as unusual business entities – a double edged sword that has the potential for both exponential success and dramatic undoing – they are the backbone of the Canadian economy.

At Zeifmans, we’ve worked with countless family businesses for more than 60 years. Being a family business ourselves, now in our third generation, we understand the unique dynamic of family and its challenges. The key challenge lies in distinguishing the processes, functions, and financial activities that will assist a family in organizing and executing strategically over the long term to sustain growth. Here are 6 key facets to consider when developing and executing your family’s business goals:

Protecting and enhancing your family’s wealth for the future requires a level of high-touch proficiency. Backed by decades of experience assisting successful family businesses, we have a unique understanding of what it takes to achieve and exceed financial goals in both day-to-day and long-term applications. To learn more about how our team can guide your family business to the next level of success, reach out to one of our family business experts today, and start the conversation.

Supplemental insights

The Zeifmans Family Business Handbook

The future of Family Business in Canada

Family and corporate governance: A powerful combination

Ownership transition strategies: 4 factors to bridge the generation gap