How to avoid costly misunderstandings in family run businesses
3 min read
Many UK businesses are co-owned and managed and it’s very common for owners and managers to be members of the same family. While businesses will usually have a detailed business plan in place, there can be issues that the co-owners/managers and family members fail consider properly, and which could potentially cause significant problems going forwards. Indeed it’s tempting to think that, as a family, problems can easily be overcome – but as we all know, it’s not uncommon for family members to disagree on things and to fall out!