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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.
(c) 2009, Spielman Koenigsberg
& Parker, LLP
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