• The founder of the family business has built up a prosperous enterprise and established an empire. This empire is based on the founder's knowledge, his wisdom and the experience that he has accumulated. During the course of the years, the founder builds up a dream that the business which he founded and built up will be transferred to his children, who will continue to manage the business and, in the future, transfer it to his grandchildren and to their progeny.

    At a certain stage, the founder begins to think about the future: his future and his personal status, as well as the future of the business. He begins to teach his children the basics of the business, in the event that they are not working with him, and transfers his professional knowledge as well as the secrets of the trade to the future generation, thereby practically transferring his abilities to the next generation. In the event that more than one child is involved in the business, he is responsible for managing the legal and hierarchical status of his sons and daughters.

    The business founder is required to engineer an orderly, wise procedure that will examine who is capable of leading the business, assuring that it will proceed forward and also to assure that the business and the family relations remain intact.

    Most of the business owners, at this stage, need direction, guidance during the proceedings to assure that the business will continue to prosper and that the family relations will be steered in the proper direction, quietly and confidently, without in any way hurting those that he loves so dearly.

    The founding generation must understand that in order to properly transfer to the next generation the empire that was built up with so much hard work, good intentions and statements are insufficient. Effort must be invested to build up a strong team that will gradually and effectively take over the reins in all aspects. We must understand that transfer of a business is a procedure requiring establishment of goals, determination of destinations, acceptance of decisions, cooperation and deliberation in regard to issues arising between the founder and his family.

    In order to accomplish the abovementioned, one requires trustworthy consultants who have the experience of many years in the field, that will accompany, advise and assist during the entire procedures. In the event that you are wrestling with these problems and with additional related problems, we will eagerly listen, guide and assist you.page1image21824

    Barzily is a leading consultation company, one of the older ones in Israel that handles family companies and family members that are partners in family businesses.

    In order to arrange a meeting with Mr. Michael Barzily, CPA, who is the leader in this field, please call at any time.