A new partnership formed between Bond University’s Australian Centre for Family Business (ACFB) and BDO, an international firm of chartered accountants and advisers, will provide a first point of call for family-run businesses to seek out advice and the latest research for their specific needs.
Family-run businesses face unique challenges not experienced by others in the corporate world. Issues such as generational transitions, ownership, management succession, strategy and government, and the more sensitive issues involving conflict management and the roles of family and non-family members.
Director of the Australian Centre for Family Business and Bond University Professor Ken Moores said the partnership will assist BDO advisers respond to a huge range of situations on a daily basis. It will also bring a real-life element directly into the Centre.
“This alliance will provide the BDO advisers with an evidence base for their decision making while providing us with a research agenda that is grounded in the every day reality of family businesses,” said Professor Moores.
BDO’s Family Business National Director Bruce Hatcher agrees the alliance will ensure their firm’s expertise remains cutting edge.
“I felt it essential for BDO to be aligned with the Australian Centre for Family Business as it has been a leader in the field of family business for over a decade,” said Mr Hatcher.
“We are confident the valuable academic research made available to us will target the specific needs of this unique business sector.”
As part of the alliance, BDO will sponsor targeted research projects run by the ACFB. There will also be regular two-three day residential courses designed specifically to meet the needs of family businesses.
The alliance will run for an initial three-year period and Mr Hatcher will fill a guest lecturing role, joining the University as an Adjunct Professor.