Although not strictly part of the governance of the business, the family needs to review periodically whether the structure of the business is appropriate. Initially it is likely that the business will consist of a single company (or partnership) but over time this may grow into a group of companies, set up perhaps to exploit different opportunities or to give different members of the family opportunities in which to take responsibility for a part of the family business.

Another common reason for establishing a corporate structure is to aid with succession and retirement planning so that, for example certain assets are held by the individual and form part of a pension pot. It is important to keep this sort of structuring under review to ensure that it is fair, workable and that it achieves the tax objectives for which it was set up.