Madame Estate:--- Global recession, currency fluctuations, tight credit and declining consumer confidence are all major risk factors in today's economic climate. As these factors are likely to have a significant negative impact on a company's performance, business owners are forced to pay closer attention to the factors driving the business' performance.Harnessing the full potential of a family business, while satisfying the expectations of family members, is difficult but certainly achievable with the right kind of help. Regardless of the economic times, running a family business is a juggling act. The needs of the business to grow and prosper have to be balanced against the needs and expectations of family members. While strategic primary concerns of any family business can include profitability, business growth, planning, and other issues, business concerns are overlaid with specific family considerations. The most important of these concerns are balancing short- and long-term business decisions, maintaining the loyalty of family members, and the grooming of willing and able successors. Renowned for resilience, family businesses inherently have the flexibility and resolve required to be best positioned for growth and to adapt more easily to change.
During an afternoon Seminar organized on Tuesday, February 28th KPMG will touch on the most important topics influencing Family Business. Guest speaker Grant Walsh, Director and founder of the KPMG Centre for Family Business in Ottawa, Canada will be key note speaker during the seminar. Given Grant's extensive experience as a family business advisor, he is uniquely equipped to advise families in business, locally on strategies and structures to ensure that their business is meeting the professional standards required to compete successfully, while managing challenges peculiar to family companies such as smooth transitions from one generation to the next. He brings to the table a profound understanding of the commercial realities faced by businesses of all sizes.
Wendell Meriaan, Tax Partner of KPMG Meijburg Caribbean will present his view on local tax issues for Family Business.
Ronald Pieters, Director of the KPMG St. Maarten office will also explain his views on strategies for family businesses.
The topics to be covered at this event will include:
- Why do Family Businesses Have a Competitive Advantage?
- Family Dynamics: Constructive or Destructive?
- Proven Communication Strategies
- Managing the All-Important Family Component
