Our unique methodology

By identifying the overlaps and potential conflicts between family, ownership and management goals, PRIMA helps find solutions tailored to the owner-manager's overall needs and circumstances. PRIMA, an acronym for People and Relationship Issues in Management, was developed by the Grant Thornton firm in South Africa and was adopted on a worldwide basis.

Because of the major involvement of our organization with family businesses it became apparent that problems were not always of a commercial nature but frequently stemmed from relationships within the business. Owner-managed businesses employ half the world's workforce and generate more than half the world's GDP. Yet their needs, problems and prospects are often ignored by other consulting firms.

PRIMA can help prevent conflict or can be used to resolve issues after they emerge. The founder of Grant Thornton Kessel Feinstein's Family Business Consulting division in South Africa comments:

"If there is one fundamental lesson that I have learned it is not to delay. More often than not, problems arise from the unwillingness of the members of the family to confront the issues in the hope that time will take care of them. Unfortunately this is seldom the case."

Our specially trained consultants are able to provide you with a valuable insight into the crucial relationship issues surrounding business management, and the financial and commercial options that are available to help resolve internal conflict. Our consultants have been trained to deal with such issues as making the transition from one generation to the next and how to plan for this change; the importance of setting up clear structures of ownership and responsibility in the business; the need to ensure that the business has the right financial structure to meet its projected targets; and how best to deal with the aspirations of the individuals who own and manage the business.

Our PRIMA service also demonstrates how careful planning can help avoid problems in the future, which often happens in instances where businesses neglect to deal with the people issues in the management of the family business, and PRIMA can also provide you with practical and effective long-term solutions to address any issues that you are faced with.

Our 12 factor framework includes:

1. Succession planning
2. Remuneration planning
3. Equity ownership by family members
4. Role structuring for non-active family members
5. Equity ownership for non-family executives
6. Retirement and estate planning
7. Strategic planning
8. Family members assuming an active role in the business
9. Financial structures tailored to the needs of each family business
10. Preserving family wealth
11. Conflict resolution procedures
12. The family creed