Much has been written about how fundamentally the pandemic has shaken up the business world, but in family-run businesses, changes in personal dynamics are just as likely to have been turned on their head - possibly to the extent of causing a re-think of established succession plans. 

Advisers should take note: clients need a multi-layered approach more than ever before, and their professional advisers must make sure they collaborate to deliver joined-up practical advice that’s driven by an early, holistic, view of legal, financial and personal perspectives.    

Let’s look at an example of a family-owned café chain which, like many businesses, missed out on vital income for many months during lockdowns and is fearful what 2022 might bring. As it dipped in and out of restrictions, at times the only money coming in was temporary government financial support, which hit cashflow and piled on debt.