Whilst remaining profitable is the top concern for family business owners, recent research published by Close Brothers Asset Management shows that four out of the top ten worries of those surveyed are related to succession planning, with provision for later life also being an important consideration.

All of these issues are ones that we can help with as solicitors.

Profitability can turn on having the right terms of trade in place, the right contracts of employment, not risking having invalid insurance and so on. A whole variety of procedural and compliance issues can affect profitability.