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September 1, 2004

Choosing between legacy and liquidity

Peter Munro, CEO of Turner-Munro International, a large family-owned furniture manufacturer, finds himself at a crossroads shortly after the death of his long-time business partner. Should he sell the business or keep it in the family?

Peter, age 69, never imagined that he might consider selling the business that he and his partner Lawrence Turner founded nearly 40 years ago. Childhood friends, Peter and Lawrence became business partners in their late 20s. Together, they built a sizeable, profitable company, one of the largest furniture manufacturers in the region.

July 1, 2004

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy. Krista Elo-Pärsinnen reports

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy.

Finland's family businesses embody 'accountable ownership' with a face – they are arguably the backbone of the economy as well as the engine powering it. Their broad goal is not unlike family business owners the world over: to pass down an enterprise in a better condition than when they themselves took over.

July 1, 2004

You don’t have to throw your company to the lions when the time for exit approaches. Melanie Stern examines how selling to your managers or staff can provide another way out

Melanie Stern is Section Editor of Families in Business magazine.

You don't have to throw your company to the lions when the time for exit approaches. Melanie Stern examines how selling to your managers or staff can provide another way out

Yeah, yeah, yeah – so we know that business-owning families have never sat pretty with the idea of exiting by selling their beloved companies to a rival, and even less so with going to market.
 

July 1, 2004

Public markets are not only an attractive alternative source of finance for family or owner-managed businesses but provide a cost-effective exit strategy for the founders without losing control of the business, explains Jonathan Jenkins

Jonathan Jenkins is joint managing director of OFEX.

Public markets are not only an attractive alternative source of finance for family or owner-managed businesses but provide a cost-effective exit strategy for the founders without losing control of the business, explains Jonathan Jenkins

July 1, 2004

Most of us are familiar with the statistics illustrating family businesses’ mistrust of venture capital. Just 0.9% of UK business families turn to this sector for development finance, according to Manchester Business School, as opposed to the 72% who stick to bank loans.

Most of us are familiar with the statistics illustrating family businesses' mistrust of venture capital. Just 0.9% of UK business families turn to this sector for development finance, according to Manchester Business School, as opposed to the 72% who stick to bank loans.

May 1, 2004

The prospect of an infusion of cash can be tantalising for family firms considering a share float. But are families willing to shoulder the regulatory scrutiny that follows an IPO? Adam Knight reports

Adam Knight is a freelance financial journalist specialising in family business.

The prospect of an infusion of cash can be tantalising for family firms considering a share float. But are families willing to shoulder the regulatory scrutiny that follows an IPO? Adam Knight reports

March 1, 2004

Family businesses which pass premises down between generations could be caught in Britain’s plans to close loopholes in the inheritance tax regime, say experts familiar with the Labour government’s new budget proposals.

Family businesses which pass premises down between generations could be caught in Britain's plans to close loopholes in the inheritance tax regime, say experts familiar with the Labour government's new budget proposals.

"To date, most people's attention has been focused on the impact the government's plans will have on gifts between spouses such as a share in the marital home," said Richard Kirby, a partner at City law firm Speechly Bircham.

November 1, 2003

Business confidence: boom or bust?
If you've been reading any sort of business news recently, you're likely confused. No one seems quite sure what to make of the economy right now. It's a bit like what we constantly hear about the residential real estate market – house prices seem to be rising and falling in the same location at the same time.

September 1, 2003

By the time Families In Business readers receive this issue of the magazine, second generation family owner of Korea’s SK Global, Chey Tae Won, will be four months through a three-year jail term he received in June for serious accounting fraud.

Bad dynasties
By the time Families In Business readers receive this issue of the magazine, second generation family owner of Korea's SK Global, Chey Tae Won, will be four months through a three-year jail term he received in June for serious accounting fraud. His actions prompted a new probe by Korea's Fair Trade Commission (FTC) into the country's top six "chaebol", family-owned dynasties, including LG Group and Samsung.

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