The Association of Family Business Entrepreneurs (AFBE) held a recent whole-day seminar event about wealth sustainability and multi-generational business strategies for families in Thailand. Speakers at the event, which took place on Thursday 24th August, discussed the range of tools and structures available for passing businesses down from generation to generation, such as family holding companies.
My session focussed on family business organisation management from a legal perspective, as well as existing guidelines with respect to the following: the ‘connection’ of business organisations and family organisations; managing ownership of property as a joint owner in the family; conflict in family business; fair selection and selection of ‘people’; management when a competitive business is opened and the use of business secrets for personal gain; internal fraud management and spending money beyond your authority; and ownership pass-through from generation to generation.
Attendees at the event learnt how to identify short-term risks and long-term opportunities and how to achieve future business prosperity for themselves and their families.
Events such as this are just one way that the AFBE provides information and advice to its members and to family business operators. Engagement between speakers and participants is always encouraged as is sharing knowledge and personal experience.
Thank you to the AFBE and to all attendees for your contribution to a really fun and instructive day! Mr Anuwat Ngamprasertkul co-founding partner