Family Business Advisory
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Family owned businesses are different from any other type of businesses. It can be challenging due to its complexity as well as rewarding due to family dynamics!
Family business sure has its difference from other businesses. Roles, relationships, and differing priorities all affect both the family and the business, creating normal tensions. This effect can lead to misalignment, lack of clear direction, and slowed decision making which can significantly challenge the continuity of the business and the family harmony.
As per report from well knowned print media, Family-owned or controlled businesses constitute about 70 per cent of the overall businesses in the GCC. Hence it is evident that Family-owned business has an internal competition with other family-owned businesses along with the competitions with the other business in the same sector. It is therefore essential to stay up to date with the changing markets and dynamic technological changes in order to sustain a Family-owned business. These businesses play a vital role in the economy and hence, preserving each of these businesses is very important.
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Are you in a hurry? reach us on +97123093344 or [email protected]
UAE is encouraging more family-owned business to get listed in the Stock exchange and publish its Initial Public Offering (IPO). Thus, such a move could lead to the introduction of multiple share classes in the country.
However, statistics prove Family businesses have problems in sustaining its business passed on to multiple generations. Most family businesses do not survive past the second generation.
There are a few challenges that Family-owned businesses would face in comparison to a Corporate Business. There is an absolute obligation for the owner to pass down the business to the next generation and there is an equal obligation for that generation to carry on the burdens of the business without consideration of interest or qualification. There also lies a challenge that certain opportunities are missed out by the Family-owned business due to lack of awareness of the change in the market behavior, new rising solutions etc. To bridge any gap that exists in a family-owned company, professional Business Advisory Services are being provided at MS.
What Are The Benefits Of Hiring An Outside Consultant For Business Advisory Services?
A family business can benefit greatly from an outsourced advisory service because they would provide fresh guidance on important business decisions to be taken for the long-term survival of the company. They may assist family business owners in acting or discussing matters that otherwise might not be considered. Without the help of an advisory service provider, it may be possible to overlook opportunities. An Advisory service may be an essential purpose that ultimately can create a more reliable and more profitable business.
Family Governance
Governance is an important aspect of managing a family business as it an ongoing commitment by the family members and its stakeholders. Without appropriate governance and financial framework implemented, the long term running of the business is under a threat.
Proper internal controls within the business can improve profitable decision-making whilst reducing the risk of family conflict. It ensures appropriate liquidity and profitability through proper planning, control, and monitoring.
Tax Advisory Services and Company Growth
Tax Advisory Services and Company Growth
How can we help?
- We offer leadership and executive coaching.
- We assist in strategic and succession planning.
- We provide advisory services for the family business.
- We provide Tax Advisory Services and VAT health check-ups.
- We provide financial analysis for the business.
- We focus on efficiently managing your accounts and help grow your business.
- We assist in optimizing governance and your business with the practical implementation of standards and system.
Needless to say, we are there in creating the structure and processes that support families to create the strongest possible future!
Mohammed Shafeek
Founder & CEO, MS
"MSATC’s foundation is laid on strong values. MSians are driven by unbreakable passion, and we chase is vision that would make a positive impact in the world. For us, all of our stakeholders are important. We are committed to delivering value to each of them, leading towards the success of our companies, communities and the country."
Mohammed Shafeek
Founder & CEO, MS
"MSATC’s foundation is laid on strong values. MSians are driven by unbreakable passion, and we chase is vision that would make a positive impact in the world. For us, all of our stakeholders are important. We are committed to delivering value to each of them, leading towards the success of our companies, communities and the country."
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