Smith & Gesteland LLP

Your family. They're constant. They're forgiving. They are your rock. So what happens when your support system is also ... your employer or employee? A touchy situation arises. Family-owned businesses account for nearly sixty percent of the Gross National Product and are responsible for half of all new jobs created in the United States. Yet, three of ten family businesses do not survive past the first generation. One in ten will not make it past the second generation. Despite these grim statistics, successful family businesses have proven the backbone of our modern economy. Planning and dealing with the unique challenges that face family businesses will allow your company to not only take root, but flourish. At Smith & Gesteland, our role is not to be merely spectators, but participants and partners in the challenges that you face in running your business. We have the answers to the questions that keep you up at night.

Family Business Services Group

Professional services offered to you

Our Services Group focuses on helping you overcome the unique challenges that confront family businesses. We have the experience and compassion to guide you. Our professional services cover:

Ownership

Estate tax and retirement planning

Implementing an appropriate buy/sell agreement

Conducting a business valuation

Developing succession planning/ownership transfer processes

Techniques to maximize value and minimize liabilities

Financial planning assistance

Management

Defining roles and responsibilities

Strategic planning for unique family business needs

Planning for the transition of maangement and succession

Defining a leadership and management development process

Management team training and development

Family

Facilitating family meetings to agree upon goals/priorities

Developing employment compensation policies for family members and key non-family staff

Conflict management, negotiation, and problem solving

Improving interpersonal communication

Establishing a governance structure

Defining a common vision for your organization

Sons and Daughters of Bosses Program
This program provides the next generation of business owners and leaders with an opportunity to learn more about business and family issues in a fun and non-threatening environment. Participants receive leadership training, as well as insight and knowledge from one another.

About Us

Smith & Gesteland is unique in the world of accounting firms. We are an independent, local, high quality CPA and business consulting firm. Our unique approach to serving our clients makes us stand out. We use client service teams made up of specialists from all areas, including tax, assurance, strategic business services and consulting. By understanding our clients' goals, their gifts, and their challenges, we can understand what they need, when they need it and how to deliver it.

Madison 608.836.7500
Sun Prairie 608.837.4477
Columbus 920.623.4115
familybusiness@sgcpa.com
www.sgcpa.com