Many successful family businesses have a form of family office embedded in the company. It may start with the CFO helping family members with their taxes, or someone in accounting setting up the books for a family memberâs outside business, or perhaps someone advising a family member through the purchase of a house or car.
Over time, this often becomes two or three employees supporting the ownersâ outside needs, plus one-off support from staff in IT, legal and other departments. Many families donât think of this as a family office. As one founder told me, âThe business is my family office.â