A few weeks ago the book 'Strategic analysis for family businesses', sponsored by ONTIER Spain and drafted in cooperation with The Family Advisory Board (TFAB), was officially presented in Madrid. Following this event, the digital newspaper Confilegal just released an interview with María Jesús Dehesa, Partner at ONTIER, in which she goes over several topics regarding family business.
First of all, María Jesús Dehesa talks about the problems that exist in certain family businesses regarding the generational change and points out that in some of them it is necessary to establish mechanisms that enable the company's professionalisation. In addition, she notes that establishing a family protocol to identify the company's mission, vision and values would be a great choice for the company to last over time.
Another relevant topic regarding family businesses is obtaining external financing, which often comes with the fear of losing control on the company. For this reason, María Jesús Dehesa recommends a thorough study of capital increases in order to avoid losing an important position within the company. The entry of non-family shareholders into the company's capital often raises doubts in family businesses. The solution for this is to listen to the company's administrators and know what they want, so that certain legal tools can be used to protect that.
Growth and internationalisation are other realities and challenges to be faced. When doubts or uncertainties arise, María Jesús Dehesa points out that: 'As legal advisers, lawyers must be able to guide the administrators of family businesses in their next steps.'
The separation of powers within the company is also key. It is important to define governing roles in the company and governing roles in the family in order to achieve the success of the company. In the pursuit of professionalisation of the company, it is essential to focus on training even though sometimes this type of initiatives can be difficult to assimilate within some companies.
The purpose of implementing these decisions is to maintain a leadership position within the company, which enables governance and promotes a better working environment among the parties involved.
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