Brazilian family firms have problems and characteristics that are different from those affecting other entities: the link between the family and the business, and often difficult relationships between the members of the family, together with the need to provide a decent standard of living for family members who do not hold positions in the company.

In order to ensure the success of a family firm, it is vitally important that the family:

• Establishes a Family Council.
• Draws up a Family Agreement.
• Establishes rules for the entry of young family members into the business.
• Develops a training plan to ensure that young family members become effective professionals.
• Establishes rules for succession in positions of command.
• Establishes a retirement plan for the CEO/Chairman.
• Sets up a Board or Advisory Council.