Creating Wealth: Supporting the next generation of entrepreneurs

Client profile: A London-based entrepreneur with a family business in food and beverage in Europe 
 

Challenges: Our client wanted to focus on the creative side of the business and needed support when it came to the practicalities of establishing and running a business.
 

Vistra services provided: Setting up of business, ongoing administration – legal, banking, tax and HR support and advice, UK investor visa application, virtual CFO

One of the most fascinating aspects of our work with families is the emergence of the next generation and how they choose to move forward in the world. Whether they become involved in philanthropy, join the family business or choose to branch out on their own, we provide support and advice no matter what route they take.

We recently advised the eldest son of a family with an extensive food and beverage business in Europe, who wanted to set up his own chain of restaurants in London. As someone who was passionate about food and had a business partner in place to provide the financing, he was less confident when it came to the practicalities of establishing and running a business. 

He simply wanted to focus on the business itself – including the creative side, such as design and marketing – while the set-up of the business and ongoing administration was put into expert hands. This included full legal, banking and tax advice as well as help with obtaining a UK investor visa for his business partner.

We were able to help him with these requirements. Not only did we introduce him to and co-ordinate lawyers, tax specialists and property agents, we took responsibility for employment and payroll services, stock control and cash flow monitoring, statutory reporting and tax compliance. We also co-ordinated the UK visa process and put a virtual CFO in place to provide financial oversight. 

As a result of Vistra taking care of the back office, our client was able to put all his energies front of house – and in only two years managed to open multiple locations for his new venture.

This article was written based on a current client of Vistra in the UK.