business culture (20%)
local suppliers (19%)
exchange rate (16%)
These challenges are in addition to the more general struggles that family businesses report facing:
Cash flow (10%)
To overcome these challenges, family businesses should seek assistance from a trusted advisor with subject matter expertise. An expert who can provide business and financial knowledge to fill in the gaps and guide the company into the next phase of growth.
As both a professional service firm and a family run business, Zeifmans is uniquely positioned to set our clients up for success. We’re personally familiar with the landscape of family operated businesses. We understand the needs of both the current and next generation. We know that effective strategy begins with an understanding of history, and is sustained by an innovative gaze into the future.
How does Zeifmans help? Let’s take a closer look.
Zeifmans services stretch beyond accounting to perform a breadth of advisory and strategic development functions. Our goal is to help our clients achieve new business growth and improve profitability, and to accomplish this end we prioritize communication and innovation. We seek to honour the vision of earlier generations while also creating new strategies to push the next generation ahead into a new phase of success.
As family businesses grow and change, there comes a need for a more structured governance framework. As the business changes hands, the younger generation needs to be prepared to meet the needs of the family and the business. Conventional thinking needs to be challenged, as new perspectives often lead to tangible solutions.
To this end, our team can assist in a number of different areas:
Laurence W. Zeifman
CPA, CA, Partner
CPA, CA, CPA (Illinois), Partner
CPA, CA, CBV, Partner President, Springbank Capital Corp.
CPA, CA, Partner
CPA, CA, Senior Manager
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