The challenges of creating, protecting and developing strong and positive family dynamics is significant for anyone but in a family business this is critical for the success of the business and those in and around it.
The first thing that needs to be considered, in our fast changing world, is what a family is to you. The nuclear family unit is no longer straight forward.
We have seen an increase in the number of blended families (those resulting from second marriages, step and half siblings and children), same sex marriages and close friends and teams that see themselves as “family”. We no longer all live in close proximity to our family – we have more “remote” and “commuter” families. All of these shifts in society can and are felt in family businesses.
We are used to working with (to name just a few issues):
- cultural implications
- multi generational issues
- sibling rivalry
- cousin tensions
- marriage and relationship break downs
- dealing with parents / children
- family not within the business