for millennials. The challenge for tomorrow’s business owners is to find ways of generating growth by creating new markets or stimulating significant change in old markets. The winners will be those with the ability to harness the latest technologies to shake up daily tasks and change the way we live and work. To find out more about how these and other family-owned businesses harness innovation and entrepreneurship, read Ian's chapter on 'family businesses in Business Families and Family Businesses' at (https://www.globelawandbusiness.com/books/business-families-and-family-businesses-the-step-handbook-for-advisers-second-edition).

Partnerships and family businesses often face the same challenges other businesses face but, because a different sort of personal relationship exists in a partnership or a family business, different considerations apply, especially when things go wrong. There’s a quintessential difference. In a business dispute there may be a relationship at stake. In a partnership or a family business, it is always at stake – and the same is invariably true with private client disputes. That means that even a straightforward commercial dispute is likely to involve an additional layer of complication. The dispute may be about business or legal issues

that your client and their partner/family might just benefit from someone independent coming in to knock heads together and keep them all safely on track. If you have any thoughts or questions about whether a mediation could help a client, please contact me in confidence. Globe Law and Business recently published the STEP Handbook Business Families and Family Businesses, a comprehensive guide for practitioners who advise business families and their professional advisers. Andrew co-wrote the chapter ‘Dealing with Conflict’ with Mark Lindley of Boodle Hatfield. For further details and to contact Andrew, please go to http://hildebrandmediation.com/

help someone separate inexpensively without destroying themselves or their business. Or even to help them salvage their relationship and establish what changes are needed to make the relationship work better. But these are just my thoughts on what we could do differently. What do you think? Globe Law and Business recently published the STEP Handbook Business Families and Family Businesses, a comprehensive guide for practitioners who advise business families and their professional advisers. Andrew co-wrote the chapter ‘Dealing with Conflict’ with Mark Lindley of Boodle Hatfield. For further details and to contact Andrew, please go to http://hildebrandmediation.com/

as others. An analytical approach to risks is essential. Risks to the market in which the business operates, risks to its customers and their ability to pay, and risks to suppliers and their ability to maintain supplies. There are risks also to the health and availability of employees, to their family obligations and to the health of management itself. In a fast-changing environment analysis needs to be flexible and constantly challenged and reappraised. Outside of food, healthcare and those businesses with long term contracts and order books, most businesses will suffer a sharp revenue decline. Cost control, the elimination

international private client lawyer with a focus on governance for families, family businesses and family offices. The goal is to have smooth generational transitions and avoid conflict. She has been a partner at leading law firms and a member of several Boards. She is on the SPEARS 500 list for family office advisors. Ms. Hauser has authored and contributed to many books, including “International Family Governance: A Guide for Families & Their Advisors”, “International Estate Planning: A Reference Guide”, “Trusts in Prime Jurisdictions” (advisory editor), “Mommy, are we Rich? Talking to Children about Family Money” (co-author), and the Family Offices