Closely Held (Family) Businesses

While they are known by a wide variety of names ... Private, Closely Held, Entrepreneurial and Family Businesses among others … cover the broad spectrum of industrial classifications from retail to services to manufacturing … and range in size from fledglings to centuries-old billion dollar multinationals … closely held businesses share with their public company counterparts many common challenges:

  • Cash Flow & Budgeting
  • Business Planning & Forecasting
  • Growth & Expansion

Additionally, they face many unique, yet equally complex challenges including:

  • Access to capital
  • Management of interpersonal relationships

While access to capital is for many a continuing challenge, SKP works closely with our clients to assist them in developing highly creative financing solutions. However, the management of interpersonal—and oftentimes family—relationships can be the greatest challenge of all. Decisions on business issues can be difficult enough, but often are simply a matter of “looking at the numbers.” Adding a layer of emotional issues, however, makes those same decisions increasingly difficult.

At SKP we know that simply “looking at the numbers”—in spite of our skills in reducing complex financial data to cogent, easy-to-understand reports—is often simply not enough. Our close, working relationships with our clients—and sensitivity to the interpersonal relationships of their various stakeholders—allows us to make a significant contribution to the long-term success of the enterprise. This can be especially true in potentially highly charged emotional issues such as Compensation and Succession Planning.