Family Business Chronicle

📢 Newsletter #42: Global Tax Trends – Strategic Tax Planning for Family-Owned Enterprises In this edition, we examine how evolving global tax policies are reshaping the landscape for family-owned businesses. With increasing regulatory scrutiny and shifting tax structures, proactive planning is essential for preserving wealth, ensuring compliance, and strengthening long-term resilience. We explore key tax trends impacting family enterprises, including digital services taxes, rising corporate tax rates, and stricter inheritance and wealth transfer regulations. As tax policies continue to evolve, understanding these changes and integrating tax planning into broader business strategies is more critical than ever. #familybusiness #familyoffice #taxes #nextgeneration #governance #leadership #excellence #topvoices #entrepreneurship #legacy #business #generation #familybusinesschronicle Follow FBC ➡️ https://lnkd.in/eVk38eVW Subscribe to the newsletter ➡️ https://lnkd.in/gsqhDCyJ R. Adam Smith Johanna Wu Aaqib Gondal Jasmine Ren

Interesting info about the tax implications for US family offices under the new administration. Barron’s reports: "The Republican-led House passed a budget blueprint on Tuesday that includes changes to tax policy that would favor family offices..." If you're a family office with tax questions, I recommend contacting Deloitte’s tax experts Eric L. Johnson and Wendy Diamond. Abby Schultz thanks for referencing our family office research: https://lnkd.in/gH2UhhdA #familyoffice #tax #deloitteprivate #wealthmanagement #familyoffices

I am pleased to announce that together with Acha Leke, we have launched a McKinsey practice dedicated to Family-Owned Businesses (FOB), which I am privileged to lead for the Europe region. To kickoff the year, we recently hosted the #McKinsey Future Family Leaders Forum in Zurich, a two-day program that explored the success factors of high-performing family businesses. Our discussions were anchored in insights from our flagship report: https://lnkd.in/egANct7n The event brought together next-generation family members from distinguished FOBs across EMEA, representing nearly 10 countries and multiple industries. Key topics included: 🏛️Governance, succession, ownership, and stewardship 🌍Insightful overview of the macroeconomic context 📈Successful strategy and capital allocation 🔄Success factors for conducting transformations in FoB Thanks to my colleagues Acha Leke, Bjørnar Jensen, Gemma D'Auria, Philipp Radtke, Sylvain Johansson, Bart Van de Vyver, and Martin Roll for their valuable contributions and this great event. I look forward to hosting more events to continue this important dialogue and foster meaningful impact within the FOB community. #FamilyOwnedBusinesses #ValueCreation

Collaboration Beats Competition ..! Over the years, I’ve come to appreciate a simple truth: no one person or firm can do it all. Yet, I often see professionals caught in the competition mindset, believing they must be their clients' sole solution. In my experience—with PPLI and family governance—this couldn’t be further from reality. Clients rarely need just one service or expertise; they need a combination of solutions tailored to their unique circumstances. That’s where collaboration comes in. Some of the most rewarding outcomes I’ve seen were only possible because different professionals came together, each contributing their strengths. It’s not about stepping on each other’s toes but recognizing that our expertise often complements rather than competes. Here’s another thing: we often serve different niches, jurisdictions, or client profiles. Instead of seeing others as rivals, why not explore how to work together to deliver greater value? I also want to say this—I’m fortunate to have many excellent connections here on LinkedIn, but keeping up with everyone is a challenge. If you’ve had a career update, started something new, or feel we haven’t caught up in a while, please don’t hesitate to reach out. Let’s reconnect virtually or in person and see how we can support each in the future. If this resonates with you, I’d love to connect. Let’s discuss how we can #collaborate and create solutions that truly work!

📚📖THE IMPORTANCE OF UNIVERSITIES FOR SOCIETY AND ECONOMY I’m glad to share the release of the monograph "The Importance of Universities for Society and Economy," co-edited with Bogusława Drelich-Skulska and Magdalena Sobocińska. ✍ It features insights from 28 authors across 12 universities in the Visegrad Group, exploring the role of universities in building sustainable societies and economies. 🤝 I'm looking forward to more developments on this important topic! 🙌 Experience will be shared at Ambis.Vysoká škola. and Family Business Center. #Universities #Cooperation #Sustainability 

Business owners often underestimate the emotional side of exit planning. Beyond financial and legal concerns, exiting requires a plan for identity, purpose, and closure. Addressing these elements early leads to a smoother transition and long-term success. From Michael Klein, PsyD https://lnkd.in/gzJuF-YT

📍 Choosing the Right Family Office Location – Insights from PwC’s 2025 Guide & Strategic Considerations PwC’s Family Office Location Guide 2025 provides a solid framework for evaluating FO jurisdictions, focusing on tax efficiency, regulatory environment, and access to talent. But as a strategist, I see the decision as far more complex—one that must integrate governance flexibility, digital infrastructure, and global mobility into long-term planning. 🔹 Key Insights from the PwC Report ✅ Regulatory & Tax Landscape – Corporate tax rates range from 22% (Denmark) to 33% (Germany), but the stability of these frameworks is just as critical as the rates themselves . ✅ Political & Economic Stability – Germany ranks 24th in global competitiveness, dropping two places from last year, reflecting regulatory complexities, while Denmark holds 1st place in business efficiency . ✅ Talent & Human Capital – As 51% of SFOs are expected to transition from family-led to professional leadership, jurisdictions with strong financial and legal talent pools will be key to success . ✅ Mobility & Residency – Investment migration options differ: UAE, Singapore, and Canada offer structured pathways, while Austria and Germany lack clear immigration incentives for foreign investors . 🔹 What Else Should Family Offices Consider? 📌 Digital Infrastructure & Cybersecurity – Regulatory frameworks around AI, data security, and digital banking are becoming as important as tax laws. Family Offices increasingly operate in a global, digital-first environment, and jurisdictions with strong cybersecurity laws and seamless digital banking offer a strategic advantage. 📌 Multi-Jurisdictional Structuring – No single jurisdiction provides the perfect setup. Many FOs now leverage a hybrid approach, setting up in tax-efficient hubs while maintaining investment or operational footprints elsewhere. 📌 Privacy & Compliance Risks – Traditional FO strongholds like Switzerland, Luxembourg, and Singapore remain attractive for their financial secrecy frameworks, but increasing global compliance pressures are reshaping this landscape. Long-term flexibility should be prioritized over short-term tax benefits. Final Takeways: PwC’s report highlights critical factors in FO location selection, but the future belongs to Family Offices that integrate governance agility, digital readiness, and cross-border flexibility into their strategy. The decision isn’t just about tax—it’s about positioning for long-term resilience in an evolving wealth landscape. What emerging factors do you prioritize when selecting a Family Office jurisdiction? Let’s discuss. #FamilyOffice #WealthStrategy #PwC #FOGovernance #DigitalTransformation #GlobalMarkets

Proud to share our new theory article on FAMILY FIRM RISK-TAKING, accepted for publication in the JOURNAL OF MANAGEMENT (Financial Times #FT50). Another 10+ year project developed with amazing colleagues – Luis Gomez Mejia, Michael C. Withers, Geoff Martin, and Robert M Wiseman   ARE FAMILY OWNERS WILLING TO “ROCK THE BOAT”? We leverage research on socioemotional wealth (SEW) and implicit theories to develop a novel blended SEW-implicit theory framework that explains why some family firms are more risk seeking or more risk averse. According to implicit theory, individuals perceive reality through their interpretative cognitive filters. We theorize that family firms with high SEW intensity tend to adopt an entity orientation (fixed reality), whereas those with low SEW intensity tend to adopt an incremental orientation (malleable reality). Accordingly, we propose that the likelihood that family owners hold either orientation is shaped by organizational features associated with SEW intensity. Also, we theorize that a firm’s performance hazard can shift family owners' implicit orientation from entity-based to incremental and vice versa, thereby impacting their risk-taking behavior. ACCESS IT HERE: https://lnkd.in/grrBKWhb Gomez‐Mejia, L. R., Chirico F., Withers MC., Martin, G, & Wiseman, RM (forthcoming). Are family owners willing to risk “rocking the boat”? A blended socioemotional wealth-implicit theory framework. Journal of Management #MacquarieBusinessSchool #ResearchExcellence #Entrepreneurship #Marketing #FamilyBusiness #familyfirms #impresefamiliari #familyoffice #MacquarieUniversity #JonkopingUnivesity #MQBS #JIBS #mergers #employees #Job #performance #risk Macquarie University Macquarie Business School Centre for Family Entrepreneurship and Ownership (CeFEO) Australasian Family Enterprise Research Network (AFERN) Jönköping International Business School Jönköping University