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PRO INSTALLER JULY 2015
PRO BUSINESS
@proinstaller1
Considerations for
family businesses in the
construction industry
Gary Deans, who leads KPMG’s family business practice, gives
advice to Pro Installer’s readers that are running family businesses:
“With the economy picking
up, and many family businesses in the construction
sector looking to take their
next steps, it is essential
that for those businesses
considering growth, to look
at the following points:
‘it is important
to create clear
growth plans’
Understanding
the investor...
“Accessing growth capital is
a complex matter, and can be
even more challenging for family businesses in construction
due to the tendency to maintain
control, which can limit options.
It’s important to understand
what an investor or funder
will seek, to be clear on what
is acceptable to you and the
business and, with this in mind,
to position yourself attractively to secure the investment or
funding sought.
Plan, plan, plan!
“In order to develop it is important to create clear growth plans
and understand how to deliver on
them. Like all businesses, family
businesses in the construction
industry vary in their key goals.
Some are interested in finding a
partner to deliver significant extra
firepower through a joint venture,
and of course there is always the
option of a sale if this complements changing family dynamics.
Lower your risk
“Investors look for growth to
fund their return. You will find
that what varies is their attitude
to risk, and whether that return
is sought in the short, medium
or long term. Communicating
how the money is to be used
and a clear plan for how growth
will be achieved is vital to maximising your chances to secure
funding.
What can you expect?
The Dutch Supercar Challenge returns to Brands Hatch September
11-13 with a diverse array of highly powered sportscars. With multiclass racing including evocative Ferraris and Porsches, this should be
one of the most entertaining club weekends of the season.
Joining them in the line-up will be a full compliment of UK-based Radical
Championships.
Spectators can also enjoy an open paddock, allowing them to get a closer
look at the machines in race preparation.
Contact
Roto Roof Windows & Hardware Ltd
Swift Point
Unit 2 Swift Park
Rugby
Warwickshire
CV21 1DZ
United Kingdom
Tel:
+44 (0) 1788 558600
Fax:
+44 (0) 1788 558605
E-Mail: [email protected]
‘The main cultural
obstacle that I see
for many family
businesses is the
need to open itself up
to external oversight
from an investor’
Be open-minded
“The main cultural obstacle that
I see for many family businesses
within construction is the need to
open itself up to external oversight from an investor. Requirements will vary from relatively
basic financial information, to a
place on the board and an active
role in the running of the business. It is important to evaluate
the investor’s likely requests with
an open mind; after all they can
bring new insights, experience
and contacts - which can help a
business grow.”