Is your family business ready for the next generation?

Is there an agreed plan for who leads the business next, and when?

Do family members who work in the business have defined roles and clear criteria for joining?

Are major decisions made by a defined body, such as a board or family council, rather than by one person?

Does the family have a written charter or agreement covering ownership, dividends and family employment?

Does the family meet regularly, with an agenda, to discuss the business?

Is your ownership structure documented, and does it reflect how the business actually operates today?

Would your current legal and tax structure support a new investor, lender or a sale tomorrow?

Is it agreed what happens to shares if an owner dies, wants to exit or is no longer able to take part?

Do you have reliable monthly reporting, produced by systems rather than by hand?

Could the business run well for three months without the founder’s daily involvement?