Standing Tall

A successful 3rd generation primary producing family business supplied for the Australian and Asian markets. They had their own breeding program. The family had over 90 family members of which 14 worked in the business. Eventually a cousin came to the Family Council asking for funding for a completely different business venture in technology.

Unfortunately, the parents of the cousin wanting seed capital, had separated some years earlier and the resulting divorce proceedings had shown the family how poorly their business assets had been protected up to that time. The family wealth took a big hit and the bloodline family member, who didn’t handle themselves or the family interests’ well at the time of the divorce, subsequently distanced themselves from the family.

After the dust settled from the divorce, the family spent a lot of time working out how to deal with inevitable family issues that could be expected to arise in the future. They formalised their plans and intentions in a Family Constitution and made appropriate funding arrangements for agreed items such as education and business development.

When the cousin made the enquiry, the cousin followed the family’s required procedures and satisfied the qualification criteria. As a result, despite the bloodline having dropped off the family’s radar, the cousin received both cash and professional support, on a commercially benevolent basis. These helped the cousin to get the business off to a flying start and within 2 years they had employed 3 young family members themselves.

Although we are based in Auckland, we go wherever our clients ask us to!

Give us a call on 0800 765 837 or email rosemarie@fbsnz.co.nz to work out if Family Business Strategies is able to assist your business family or family business.