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Family Business Services

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Family business is a major economic force in America today. According to the SBA, the 24 million family businesses account for 89% of business tax returns, and employ more than 82 million people (or 62% of the workforce). These closely held family-owned businesses have unique concerns and accounting requirements. The finances of the business and the family are often highly entwined. Often, the business represents a large share of the family’s wealth and future security. Business loans are secured by personal assets. Cash flow has a major impact on the family’s lifestyle. Due to these factors, it is especially important that family businesses have a relationship with an accounting and financial management firm they trust and feel comfortable working with – a firm that is compatible with the requirements and character of both the family members and the business.

Our Business Family Business Experience

In our 60+ years, Dermody, Burke & Brown (DB&B) has come to understand the particular dynamics of the family-owned business. We take the time to build consensus among the stakeholders. We assign each client a dedicated team, so that we can come to truly know their family members, operations, and business and personal goals. Our objective is to build a lasting, trusting relationship so our clients feel comfortable asking us any question or turning to us with any financial or non-financial challenge.

DB&B assists our clients throughout the entire business life cycle – from formation and choice of an appropriate entity, through expansions and acquisitions, to succession planning and planning for transitions and sales. Should an unusual issue arise, DB&B’s affiliation with Allinial Global allows our team to tap into the wealth of family business experience of other top tax practices.

Finance Services

Sales & Mergers

Acquisitions
  • Negotiations
  • Valuation
  • Financing
  • Legal & tax issues
  •  Management structure
  • Operational issues

Budget & Modeling

Capital requirements
  • Start-up costs
  • Working capital
  • Capital improvements
  • Expansion
  • Debt or equity decisions

Planning Services Include:

Business Plans

Business Valuations
  • Mergers/acquisitions
  • Estate & gift tax compliance
  • Divorce proceedings
  • Shareholder disputes
  • Buy/sell agreements
Feasibility Studies
  • Industry studies
  • Marketing plans
  • Strategic planning
  • Target markets
Outsourced CFO Services
  • Accounting system set-up
  • Analysis of internal reporting
  • Cash management
  • Training
Succession Planning
  • Retirement
  • No successor apparent
  • Successor development
  • Family conflict resolution
Management
  • Process improvement
  • Benchmarking
  • Facilitation services
  • Development of performance metrics
  • Risk management
  • Growth planning

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