Generációváltás a családi vállalkozásokban

Family businesses have a number of special features completely missing in companies working on market terms – such as considerably simpler decision-making systems, often much more flexibility, rapid response to challenges, and a direct leadership style in their managements.

These, at the same time, represent also a number of potential stumbling blocks: in case of a family business, it is sometimes difficult to make objective decisions or to recognise which family member is suited for which function. Particularly relevant is the latter issue in respect of the company head. Research shows that founders of family businesses are, almost with no exception, personalities with considerable business acumen and entrepreneurial spirit – and these traits are often not found in any other family member who would otherwise be an optimal candidate to head the family business, in view of their age, knowledge and other considerations.

Surveys find that one of the biggest sources of danger for family enterprises is precisely a generational shift: unless a person with adequate knowledge and disposition is selected to lead the company, the empire constructed by the founder for decades may fall apart in a matter of years. Thorough and cautious succession planning is, therefore, highly important, whereby the affected generations may get a clear picture of the expectations, duties, weaknesses and disputed issues, with special regard to potential disputed issues. Similarly incapacitating for the course of business may be an overly complicated ownership structure, which may result in a lack of decision in the enterprise during a succession period.

The institution of fiduciary asset management is capable of offering an excellent solution to such cases. In the fiduciary asset management system, expert help may be used for easily setting up a business structure that reflects the intentions of the founder or the predecessors, while also reckoning with the successors’ interests, which may ensure long-term stable survival and functioning of the business. In the event a family business is involved in fiduciary asset management, its ownership rights will be exercised by the fiduciary asset management company instead of the family members, in compliance with terms laid down in the contract. And because the assets managed in this way will, consequently, constitute the private property of neither the founder nor the successors, the business property is safe even in the event a family member accumulates debts – given that creditors may exclusively request foreclosure of the debtor’s own property. Moreover, a fiduciary asset management contract may be fully customised to protect all parties’ interests concurrently.

Holding years of experience in asset management, along with a comprehensive legal, financial and administrative background, the members of our family business provide worthy management and prosperity of assets with the involvement of experts, if necessary, to ensure that the unity and reputation of the business is preserved to be passed on to future generations – also in case of businesses. Please contact us with confidence.