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Optimising family business asset holdings
A worker walks by wheels of cheese stored in the ripening department of the Casearia Castelli, member of Lactalis Group, a family business founded in 1933 in Laval, France. FILE PHOTO | AFP
Family-owned businesses are the foundation of Kenya's economic landscape. Contributing a staggering 80 percent to the GDP, they represent the entrepreneurial spirit and drive that fuels the nation's growth. Ensuring their long-term success transcends passion and hard work. It necessitates a strategic approach, with ownership through effective holding structures forming the foundation upon which these businesses can thrive for generations.
An optimised and fit-for-purpose holding structure provides a future-proof robust framework and legal structure for a thriving family-owned business. By setting up clear financial and tax planning practices, using a growth-focused capital structure, and implementing forward-looking strategic tax planning, family businesses in Kenya can navigate growth complexities and ensure the protection of their family business heritage and legacy.
