Stages of ownership in a family business

1. What stage of the family business Lifecycle is your family business in?

My family business is a cousin consortium dealing with logistics, pharmaceuticals, distribution of power tools and construction.

My family owns the 100% with the shares being split among family members

2. In what way does this stage reflect a ‘problematique’ and challenging stage?

Being in a cousin consortium can be challenging as different family members may have a different vision to how the company should be operating. The other issue is the succession issue with many candidates within the family eligible to run the business.

3.How does this stage of your family business’ lifecycle contribute, affect or erode the business and ownership dimensions of your business?

Since the business is in its 100th year of operation it can be difficult change the way the business is managed as a culture has developed within the business.

4.What transition do you envisage for your family business’s lifecycle stage in the coming 10 years?

I believe the company will rely more on agents in the future, as there is a possibility the company goes public in the next few years with family members retaining board membership.

5.How do you anticipate your family business and its owners and agents (including yourselves), reacting to these changes?

I believe all family members are open to this as it allows us to focus on other business or interests we may have, while using the main business as a great backbone and tool.