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Princecroft Willis, Accountants in New Milton, bournemouth, poole, dorset, hampshire

 
Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire
 
 

Help us to determine the Family Business Agenda

We believe that family businesses form the cornerstone of local industry so, as you might expect, a large proportion of our client base is made up of family enterprises.

Our specialist services and proactive involvement focuses on helping them to grow and develop, building on the success of the founder while structuring innovative ways to hand that success on to future generations.

The process is not always an easy one and there is certainly no blueprint or “ten point plan” for success, however with statistics showing that only 4% of businesses in the economy are inherited, our focus is to work with our family business clients to ensure that they are successful in their succession plans.

Please take the time to complete this questionnaire and contribute to the family business voice.

Please select one item in each of the areas below:

The role of the family in your business Yes No Only if they want to
Do you expect the next generation to work in the business?    
Are you a family business?      
Which year was the business founded?
Which generations of the family are currently involved? First Second Third Fourth Other
 
           
What drives you and your business?          
Please indicate to what extent the following factors are important in driving you and your business:
  Not at all
important		 Fairly
important		 Quite
important		 Very
important		 Critically
important
To increase sales revenue
To be recognised as successful
To create long term value in the business
To support and provide for the current needs of the family
To build a legacy for future generations
To support and provide for the retired generations
To be seen as entrepreneurial
To increase the profitability of the business
To be seen as contributing to the local community
To create wealth from the sale of the business
           
What critical challenges and succession issues do you and the business need to address?
Please indicate to what extent the following are relevant to you and your business:
  Not
relevant		 Limited
relevance		 Some
relevance		 Largely
relevant		 Very
relevant
Help in creating a succession plan
Current and future lifestyle requirements
The mix of family and business affairs
The need for ongoing family involvement in the business
Management skills of key staff
The business plan for the next five years
Management succession planning
Changing market circumstances
Professional governance structures
Changing legislation and red tape
Financing growth and still retaining control of the business
The introduction of outside shareholders
Assessing what the business is worth
Should I pass the business on to the next generation?
Considering the sale of the business?
Wills and inheritance tax planning
Retaining and motivating non-family executives
Developing appropriate roles for the next generation
Involvement of the next generation in the business?
Future share ownership by the family
Other (please specify)
           
Governance of the business       Is the plan written down?
  Yes No   Yes No
Does the business have a business plan?  
Does the business have an ownership succession plan?  
Is there a management succession plan?  
Are other family members (other than spouse) involved as Shareholder      
Are other family members (other than spouse) involved as Director      
Does the board of directors include non-family members?      
Are there any non-family shareholders?      
Is there a shareholders agreement in place?      
When do you plan to retire? Started already Within 0-5 years 5-10 years More than 10 years Never
 
When do you plan to start your succession plan?
           
Which of the following exit options are you considering? Yes No      
Passing on to the next generation      
Trade sale      
Sale to existing management      
Flotation – Venture Capital investment      
Appointment of professional managers      
Passing on to other family members      
Other — please specify
           
Personal Details          
Name - REQUIRED
Position
Company Name
Address
 
Post Code
Telephone
Email - REQUIRED
           
Turnover          
Less than £1million        
£1 to 5 million        
£5 to 10 million        
£10 to 30 million        
£30 to 100 million        
More than £100 million        
           
           
Business Sector          
Agriculture        
Construction        
Consumer retail        
Hotel and leisure        
Professional services        
Manufacturing        
Media and entertainment        
Motor industry        
Property        
Technology        
Wholesale        
Other - Please specify
           
Employees          
Less than 10        
10 to 25        
26 to 50        
51 to 100        
More than 100        
           
        Yes No
We will be compiling a report on the findings of this survey. Please tick this box if you would like to receive a copy of
the report.
We will be running events in the New Year tackling some of the issues identified. Would you like to be notified of the event
From time to time we may send you further information which we think will be of direct interest and relevance to you. Can we send you further information?
         
Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire, Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire
 
Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire
Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire

 
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Chartered Accountants New Milton, bournemouth, poole, dorset, hampshire