Running a family business is both a privilege and a challenge. The blend of emotional ties and commercial interests often leads to complex dynamics. One powerful tool that can bring clarity, structure, and long-term stability is a Family Business Constitution . But what is it, and why is it so important? Family Business Constitution What is a Family Business Constitution? A Family Business Constitution is a written document that outlines the values, vision, rules, and governance structures guiding both the family and the business. It’s not a legal contract, but a moral and operational compass created collaboratively by family members. Key Components of a Family Business Constitution Family Values & Vision A shared set of values and a long-term vision ensure all members are aligned on what truly matters. Roles and Responsibilities It clearly defines who does what — both in the business and within family governance structures. Succession Planning One of the ...