Family Business

Family Matters, Especially in Business

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Working with family creates a unique business dimension. There are strengths to enjoy, plus issues to be aware of. The Pomroy Associates team has direct experience of this … we’re a family-run accountancy practice.

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This first-hand experience, blended with our accountancy expertise, enables us to provide specialist, tailored services to families in business. We know exactly what’s involved … and how it feels!

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There are many benefits involved, such as strong working relationships, long-term commitment and quick decision-making. However conflicts of interest may occur, and what happens if family members disagree or want to leave the business?

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Delicate juggling

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Running a successful family business involves carefully managing business operations, family relationships and succession planning. It’s also crucial to recognise your family may not possess every skill needed to run a profitable business. Knowing when to access support via outsourcing or recruitment is crucial.

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Specialist accountancy support available to family businesses involves:

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• Succession planning to offer longevity, protecting the family.
• Tax planning for the business and individual family members.
• Governance and structure to optimise efficiency.
• Accounting and advisory services.

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