At least 70 per cent of all businesses are family businesses or have their roots in a family business.

There is no doubt the reason many survive is because there is an inherent understanding of the culture of a business when it is run by members of the same family.

However the flip side of the coin is that there is often turmoil beneath a veneer of harmony. A family business will fail if it is adversely affected by conflicting and sometimes incompatible needs of the family, its owners – who may not be the same people - and the needs of the business itself and those involved in its day to day operations.

For instance, how often have you heard the following: “My wife wants to split everything equally between the children but only one son has put any effort into the business”? or, “We love our son but he will ruin my business!” And how about this one: “He says I have complete control now, but still comes in every day and tells me what to do.”

CLM is frequently asked to advise on these types of problems and as a result of client demand, has developed its own Family Business Service. CLM advises commercial and private clients, and Partners Hemant Amin and Lance Parker are also members of a Business Link panel of advisors, formed specially to advise family businesses.

Hemant explains: “Ours is an integrated service which tackles family ownership and business issues. We understand the problems families in businesses face when they are trying to keep everybody happy. Our aim is to resolve those, but most of all to prevent them happening in the first place.”

CLM Wills & Estate Planning Lawyer and Associate, Michael Overend, adds: "In family businesses you have to plan to achieve the best for the family, the business and the estate, and to deal satisfactorily with one, you invariably have to deal with them all."

"Our advice is always consistent: don’t leave it too late, don’t leave it to chance, don’t leave it to others to sort out after your death, and above all, don't leave it to the Chancellor!"

Anyone wanting advice on selling on, passing on or carrying on a family business contactHemant Amin,Lance Parker,Michael Overend orAndrew Egan for an initial consultation.

The whole of our Family Business Service Team have undergone specialist training.

CLM is a participant in a series of seminars run by Business Link from time to time to examine the legal, accounting, financial planning and emotional aspects of running a family business.

Contact CLM for details: