NEWS
shared his thoughts on the issue
via a pre-recorded video which
was played at the conference. “To
hand over the baton to the next
generation you need to expand
the business and to make sure
it is profitable. There must be a
place for your child to establish
himself, but he has to show that
he deserves it, he has to show that
he has passion for the business. No
amount of money can replace running a business with your family,
there must be place for everyone to
provide input and to have a say,”
said Kobus.
Francois Strydom added that
there had to be a distinction
between the intellect and the as-
sets. “Intellect and assets are two
separate issues and both have to
be developed separately to ensure
success. The intellect has its own
challenges, do you have the skills,
is there a strategy etc. etc. Money
can never be the motivation… the
problem is that there is too much
emphasis on the assets.”
Hendrik Wessels said that family businesses have to make use of
good financial services advisors to
ensure optimum financial planning. “The consideration of creating a trust is an important option
in terms of legally avoiding having
to pay capital gains tax, which
often comes as an unplanned financial surprise for children who
inherit the farm.”
Don’t miss the full programme
for all the ins and outs, tips and
advice on how to manage a successful family business. Judging
•••
••
••
Hendrik Wessels of
PricewaterhouseCoopers.
from the robust interaction from
the audience and questions received via the Nation in Conversation App, the issue remains a
very relevant topic in the industry.
Watch the press and visit the Nation in Conversation website at
www.nationinconversation.co.za
for the full broadcast schedule.
21
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