Personal Business Advice helps a Family Business set a Direction for the Future

Key Services

• Business and investment acquisitions and sales
• Long-term business, succession & tax planning
• Setting up transparent, easy-to-use business systems and reporting
• Strategies for cohesion within the business team
• Trusted advisers involved in all aspects of the business

The Hazlett’s are a close-knit, family-run mixed farming operations and property management group headed by Director, Robert Hazlett. Initially involved in property, the Hazlett’s have assembled an extensive portfolio of commercial and residential property interests. Following their passion, the Hazlett’s further diversified into rural property and diverse farming operations.

Alex Hazlett and his three brothers work within the family business and have successfully evolved as a team with the unwavering guidance of BLG Business Advisers. They have had hurdles to face along the way, but with open-mindedness, flexibility and the right support, they have come through stronger and more committed to making their business work.

The family’s relationship with BLG is long-standing, with Robert Hazlett having worked alongside BLG Director, Scott Brodie, for over 30 years they have built a strong and lasting relationship. Robert’s sons have grown to now run the family business and BLG’s assistance in this succession included the succession of the BLG day-to-day relationship management from Scott to Peter Ryan. In this way Alex and his brothers have a go-to person of similar age, values, vision and outlook in life which similarly underpinned the strong relationship built over the years by their parents and Scott. BLG didn’t just talk succession; they were actively part of the journey. The family have fostered a remarkable working relationship with the whole BLG team over the years.

Cultivating a cohesive family working environment

One of the benefits of working with BLG has been their ability to unite the family in their business goals and strategies for growth. As with many family businesses, having everyone on the same page is vital in achieving these goals and moving forward together.

“They have been very inclusive of all members of the family in the direction of aiding us to grow the business,” said Alex. With the help of BLG, the Hazlett’s have been set up in the most tax-effective and efficient way that allows everyone within the family business network to contribute and be equally involved. Each member of the team has a clear view on what is happening within the business and with strategies in place that allow them to work together toward common goals in a smooth, seamless system.

The personal touch to business

Unfortunately, one of Alex’s brothers suffered a serious workplace accident that left him unable to work in his previous capacity. Scott Brodie, Peter Ryan and the BLG team were there for the Hazlett’s during this difficult time, both in a business and personal capacity.

“With the accident that occurred to my brother, the amount of work that BLG have done to aid us through that situation has been unbelievable. They offered incredible support to both my parents, my father and my mother, as well as all the boys. They took the time out to sit with us and talk about how we can get through the next five years,” said Alex.

BLG helped the Hazlett family reassess their goals and the consequent shift in business dynamics. Together, they could then implement a new plan forward. BLG were instrumental in identifying where the family business should be heading and helped the whole team understand how best to move forward.

“Over the years there have been many significant events that have occurred that the team has helped us through, and I’m sure they will continue to help us through others into the future,” said Alex. “They are very supportive, very understanding and have a good comprehension of not only tax implications and that sort of environment, but they also have a clear understanding of how to work alongside individuals and teams to generate the best outcome.”

Trust and reliability

One of the stand-out points to working with BLG that rings so true for Alex and his family is the trust and reliability BLG offers. They are not simply business advisers and accountants, but valued members of the Hazlett’s team that take the time to really understand their client’s needs.

“They are a reliable partner really, at the end of the day,” said Alex. “It’s been a long-entrenched relationship, we have been through a lot of different scenarios and they’ve helped us not only with business, but also private, personal matters along the way. They’ve provided not only commercial recommendations, but the friendship that helps build business too.”

Benefits and results

• Enabled greater cash flow by recommending the sale and acquisition of suitable assets.
• Provided opportunities to boost business growth in both the short and medium term through asset recommendations.
• Aided the family in reassessing business goals when their situation changed, then guided the implementation of a new strategy to keep the family unit operating at its highest capacity.
• Became a trusted partner in business and provided highly valued, personalised support in times of need.

Conclusion

For the Hazlett family, BLG deliver the perfect combination of expert business advice and practical assistance, with the ongoing personal support they need to move forward and thrive as a family business unit.

“They are really just an extension of our business. They are thoroughly involved in our business and they thoroughly understand our business.”