We have been intensively working as a solution partner of family business for many years. During this process, we not only provide solutions but also face with development areas frequently.
In cases, which these development areas are not resolved in well-timed and systematic studies, we unfortunately observe the dissolution of companied before they are transferred to the next generation.
Therefore, due to rules instead of people, if a business is run within the scope of “Corporate Governance” the below stated advantages can be inherited from generation to generation:
- Sustainable growth and increase in performance
- Competitive capacity
- Continuity for generations
- Increase in value and reputation
How can we help as GRS?
95% of Turkish companies, 75% of public companies, and 75% of gross domestic product are formed by family business. Families face various corporational and domestic difficulties while preparing their business for next generations.
‘Succession Planning’ concept for family business is examined under two headings:
1- Family Constitution: Pursuant to current and draft tax and private law legislations, a family constitution is prepared in line with the demands of family members to regulate the relationship between the family members themselves and family business
2- Stockholders Agreement: Pursuant to current and proposed and private law legislations, stockholder agreement as a part of company’s main agreement is prepared in line with family members’ demand who will be the parties of stockholders agreements and their business vision.
In consequence of intensive interviews conducted with customers, we actualize the succession planning in 8 stages:
- Due Diligence and Interviews with Families
- Evaluation on Solution Offers
- Creation of Draft Family Constitution and Draft Stockholders Agreement
- Evaluation of Draft Family Constitution and Draft Stockholders Agreement with family members individually or as a whole
- Approval of stockholders agreement and draft family constitution at stockholders meeting
- Reflection of decisions made at stockholders agreement on family constitution and stockholders agreement
- Signing of Family Constitution and Stockholders Agreement
- Notifying all parties on agreement.