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EY Luxembourg

Mid-market / Family Business

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Our EY Luxembourg Mid-market / Family Business page sections:

1. Mid-market / Family Business value proposal
2. EY Luxembourg, Luxembourgish anchorage
3. Key messages
4. The growth DNA of family business
5. EY cares about your family and your family business
Entrepreneur Of The Year
The EY Junior Academy

1. Mid-market / Family Business value proposal

With 90 years’ experience of serving family businesses around the world, EY is a market leader in this space. Our unique Growth DNA model addresses every aspect of the family business agenda – and aligns it to our services. Our integrated global network gives us an advantage our competitors cannot match. And our convening power helps family business owners to connect to and learn from their peers around the world.

Our Global Family Business team is ready and able to work with you on client documents, capability statements or any market-facing materials. We have built a library of these materials which you can draw on for inspiration and support. Whether you just need to call for advice, want to access materials for reference, or require individual assistance to support your marketing efforts, we are there to help you.

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2. EY Luxembourg, Luxembourgish anchorage

In order to encourage economic development in Luxembourg and support Luxembourgish companies trading in the national market and beyond, EY has established a team of Luxembourgish nationality, which is dedicated to the local market and involved in its various sectors. This team is led by Yves Even, Partner.

Their services also meet the needs and concerns of local economic actors and include the following: optimization of your company’s performance, improvement of the business management process and financial information including certification of your accounts, implementation of accounting supporting your information needs and a better management of your tax matters.

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3. Key messages

Family businesses are the driving force of the world economy. Each one is unique but with over 90 years of experience and a professional network spanning 150 countries, we know that many share similar advantages and face common challenges. Today, 90% of our clients are private or family owned businesses, and we are committed to helping them to succeed. That’s why we have launched the EY Global Family Business Center of Excellence – the primary online resource for companies like yours that are looking to succeed for generations.

EY is committed to family businesses:

  • We are a market leader in serving family businesses.
  • Around the world, 90% of our clients are private or family owned; we are committed to helping them to succeed.

We understand the unique challenges you face – and how to address them:

  • Our unique “growth DNA of family business” model is the result of our long experience of serving companies like yours.
  • It addresses every facet of your personal and business agenda.
  • It enables us to address your specific needs and tailor our services to serve you.

Our global convening power is second to none:

  • Our global convening strength means we can connect you to your peers who have overcome the same challenges you face.
  • Nothing is more effective than learning from someone who has been there before you.

Wherever you are looking for growth opportunities – we are already there:

  • Our highly integrated global network of family business professionals and our experience working on complex, cross-border issues is unparalleled.
  • We understand local customs, laws, languages and culture, and can guide you wherever you do business.

Visit the EY Family Business Global Center for inspiration, information and guidance:

  • The EY Global Family Business Center is a powerful, new online resource.
  • Our Family Business Blog offers perspectives from EY professionals and external thought leaders on topical issues and provides an interactive forum for discussion.
  • Visit the center to access our insights, experience and people; and find out how we can help you to succeed for generations.

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4. The growth DNA of family business

Each family business is unique, yet each successful family business has much in common. Understanding these success factors and taking advantage of that knowledge underpins what we call the “growth DNA of family business.”

EY understands what keeps you busy during the day and awake at night; we appreciate the difficulties you face trying to balance the concerns of the family and the intricacies of your business. We know what makes a family business successful.

Our ongoing in-depth research and work with companies similar to yours provides us with the basis to give you advice based on the leading practices of other successful family businesses around the world.

The EY approach is anchored in our “growth DNA of family businesses” model: our bespoke services support both the personal and company performance agenda of family business leaders, and aim to help you succeed for generations.

The growth DNA of family business 

We know that an aligned family and business strategy secures both your family’s and your company’s values on a long-term and sustainable basis — it also forms the foundation for the planning of ownership and management succession.

The practical assistance and professional advice we offer your business can help you unlock your company’s potential to enhance your business performance: the highly personalized services we offer will enable you and your family to plan successfully for the future.

The enclosed EY information sheets reflect our approach and focus on the main areas of concern for family businesses — those where we believe we can be most useful to your family and to your business.

Managing capital: capital is the lifeblood of a growing company, and many family businesses will be looking ahead and considering new investments. If you are opening new subsidiaries, taking on new staff, planning an acquisition, upgrading your technology or developing new products, you may need to consider refinancing or restructuring or to explore private or public capital injections.

Sustaining growth and profitability: to sustain growth and continue to drive profitability, you may be looking to explore new markets and broaden your product/service mix to exploit opportunities, achieve optimum returns and mitigate risk. This may involve pioneering innovative entry strategies, with any acquisitions seamlessly integrated into your business and realizing back office efficiencies that will improve top and bottom line.

Managing and retaining talent: a company is only as good as its employees; this principle applies even more in our globalized world. Increased cost-consciousness, market volatility, international assignments, legal requirements, tax complexities and the retention of top performers, present a whole host of challenges to family businesses.

Next generation planning: generational change in family businesses is a highly complex process and often constitutes a real balancing act for everyone involved — family, company and owner. The issues to resolve always have an emotional component in addition to practical, objective and technical aspects; alongside fiscal, legal and financial questions, the very personal aims and values of the entrepreneur and family members will always be a major consideration.

Effective tax management: tax has a strong impact on a family company’s investment decisions, financing and liquidity situation affecting competitiveness and growth. It is therefore vital to ensure that you understand the tax implications of the business and personal wealth decisions you make.

Balancing risk: the need to be able to react quickly to market developments makes additional demands of family businesses’ flexibility and adaptability to risk. This can be achieved through forward-looking risk management combined with an effective control system that allows you to both keep your business out of trouble and improve performance simultaneously.

Future management structure: family businesses revolve tightly around the current owner — yet arranging a successor within the family may not always possible; for instance, your descendants could lack the desire and the willingness to assume the entrepreneurial risk, or they may not have the necessary qualifications and experience to manage the company. Contingency management, appointing non-family executives and family charters all contribute to ensuring your business succeeds for generations.

Culture and responsibility: customers and employees alike are attracted by a long-standing family business commitment to sustainability, whether it is an uncompromising commitment to use local products, to source from renewable resources, or to avoid using cheap labor. You may need to consider how best to integrate ethics and values into your performance strategy, and align it with the achievement of company goals with respect to growth, market positioning and optimizing internal processes such as financial and non-financial stakeholder reporting.

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5. EY cares about your family and your family business

We are the world leader in advising, guiding and recognizing entrepreneurs; we will work with you to preserve your life’s work and develop it further for the next generation. Our services help you deal successfully with the challenges of today’s marketplace with its multilayered uncertainties and opportunities; and support you as you go forward into the future.

EY cares about your family and your family business. We know that the two strands can’t be separated — if your family isn’t happy with your personal financial situation, your business may suffer; if your business isn’t flourishing, your family may feel the pain.

That’s why we offer highly personalized advisory services for you and your family members, to enable you to plan for the future, and practical assistance and professional advice that will help enhance the way your business works.

Family business 

We are the most globally integrated organization with over 175,000 people active in almost every country. Whether you want to move into new growth markets in Asia or South America, are considering a joint venture in Eastern Europe, or are planning to launch a product in a nearby market, we have the right connections. Our internationally seamless service and support can smooth your path to new possibilities in both emerging and developed markets.

We are able to leverage our experience of working on complex cross-border issues, providing an integrated team that addresses your family business agenda. We are constantly updating our information and services in line with new legislation and business changes in every country. We understand local customs, laws, languages and cultures — our global professionals can guide you wherever you do business.

We offer each family business a bespoke service to suit their needs. We know that your business is not like any other; your personal issues are just that — personal. Your company is unique. It’s that uniqueness that makes you successful — and it’s something we will help you to preserve.

We will give you independent and practical advice to help you strengthen and grow your business. We have industry and subject-matter professionals in key business sectors who understand the specific issues you face every day, and can give you informed counsel and advice on how to leverage international leading practices.

We will be proactive on your behalf at all times — sharing with you new developments that may affect your business, aiming to suggest options before a problem even arises.

EY supports the world’s most entrepreneurial, innovation-oriented companies. We can help you manage the delicate balance between sustaining growth and innovation, while managing risk and maintaining personal wealth. We can help you to succeed for generations.

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Entrepreneur Of The Year

Every great business started out with one great idea - and an entrepreneurial talent who envisioned something new and found a way to bring it to the market.

We strongly believe in the power of entrepreneurship and innovation, and commend those who excel. EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. It recognizes the contribution of people who inspire others with their vision, leadership and achievement; and celebrates those who are building and leading successful, growing and dynamic businesses.

For more information, please visit www.eoy.lu.

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The EY Junior Academy

Our Junior Academy program offers young people from family businesses a chance to find out where their strengths lie, explore their interests and give voice to their own needs for the future. The Junior Academy is an exclusive one-week training event that combines knowledge from international top-ranked executive business schools with practical experience from EY, to create a particular offering for the next generation of entrepreneurs and family business leaders.

For more information, please visit our dedicated website: www.ey-junioracademy.com/

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