The first issue of “Family Business” magazine

03.04.2017

The magazine “Family Business” is published by the FBN-Ukraine Association. The project is implemented thanks to the financial support of Ukrainian family companies RedHead Family Corporation, Dec Education, GOLAW. The first issue will be presented at the Warsaw event that is to be held on March 24-25. You can subscribe for “Family Business” through subscription agencies or in the FBN-Ukraine Association.

In the opening address from the publishers, Vladislav Burda, the founder and president of the RedHead Family Corporation, of the family businesses owners Association FBN-Ukraine, said:

 

Dear readers, you are holding the first Ukrainian magazine dedicated to family business. This is not just a magazine. It is a part of a larger ecosystem, rapidly evolving with our participation in Ukraine for the last eight years.

Ukraine received the right to register a representative office of the International Association of Family Businesses Owners (Family Business Network) in 2009. Worldwide, the Association unites more than 5000 families that want to keep the business and pass them on to their heirs. In order to achieve this goal, the owners of companies regularly meet and discuss what is to be changed, so that the process of transition of family business from generation to generation would go smoothly for successors, management, and the owners themselves.

In Ukrainian chapter, we annually hold three such meetings. Each time after a regular event, we prepare our magazine that is deservedly popular among the members of FBN-Ukraine. Moreover, if the issue accidentally falls into the hands of an outsider, the questions like “why don’t you say openly about this” or “why don’t you distribute this information, it’s so important for all owners”, always arose. Therefore, the idea of a public magazine compiling the history of Ukrainian family companies and important articles that enable you to look into the topic deeper came up.

Ukraine recently turned 25 years. The majority of our businesses emerged in the difficult era of the 90’s, and for all of us it is a matter of great importance to keep our businesses for future generations. However, the founders of companies who spent many years at the helm, are increasingly showing the effect of “wear and tear,”, both physical and moral. So, the question arises, what will happen to business further on?

To begin with, every owner must realize thatsoon or late, he will have to part with his business. As a minimum, none of us is immortal, but in addition, there are many more scenarios: the business can be sold (successfully or not), ruined, become public or passed on to the heirs.

The last scenario is most likely and harmonious. No one wants to go bankrupt, but to sell a company in Ukraine successfully or become a public joint-stock company is unlikely. The transfer to the heirs becomes the most comfortable and logical scenario. The more so as most of us initially created their offspring not for sale, treating it as their own child.

And since we always wish the best to children, it’s time to study the techniques and tools thanks to which we will be able to transfer our businessto the heirs smoothly and with no significant losses. This is the objective the new magazine “Family Business” will work at. Here you will find many interesting examples of other families and useful tools that tell you what and how to do next.

A fascinating journey to the world of family business awaits you! From the formation of the family council to the board of directors. From writing a family constitution to participating in the forum of the owners like you. From the history of love to the history of seeking a vocation.


Well, let us start. And let our children be better than we are. And our businesses – when in the hands of the heirs – better than we conceived.”