Murray Beith Murray Partner, Peter Shand, writes in The Scotsman today about the rising trend of the super-wealthy in setting up finance and legal offices to deal with their affairs.
Family businesses are an integral part of the economic health of Scotland, and in light of the COVID-19 pandemic, it is more important than ever that we as professional advisers, assist our clients in overcoming their legal and practical problems.
Family businesses face the same challenges as every other business. However, they have the added complication of involving highly personal relationships. When conflicts arise, there is much at stake and commercial decisions can be influenced by the way people feel, unresolved family tensions, or things that may have happened in the past. As a result, it is not only the matter at hand that needs to be effectively managed but the people involved in the running of the business too.