Business Families and Family Businesses The STEP Handbook for Advisers, 3rd Edition

Since the publication of the last edition in 2018, the world has experienced significant change. COVID-19, war, economic downturn and a more urgent focus on climate change are just some of the key events that have led to increased geopolitical risk.

This third edition, co-published with STEP, looks at developments within the approach to family business advising since 2018, taking account of the current geopolitical backdrop and the shift in attitude in a growing number of clients towards succession, philanthropy and investments.

However, for those new to the field there remains ongoing guidance on:

• how to understand the unique nature of family businesses;
• typical family dynamics that impact succession;
• the power of governance in supporting good ownership and management;
• the typical stages of the family business and the key risks that will invariably arise; and
• the different legal and non-legal approaches to tackling such problems.

Featuring contributions from leading practitioners in the field (including the Family Firm Institute, Cambridge Family Enterprise Group, KPMG, Rawlinson & Hunter, JTC, Boodle Hatfield, Forsters, Farrers, Wedlake Bell, Schillings, HSBC, Stonehage Fleming and Rothschild), this comprehensive handbook makes essential reading for all practitioners who advise business families, including lawyers, accountants, financial advisers and wider family business advisers.