Helping Family Businesses
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Results: 762 Record(s) Found.

Including In-Laws: A Different View

We typically advise second generation family businesses to include in-laws as equal participants in family meetings and decision-making and as active members of the family council. Usually, they can bring fresh perspectives and diversity of thinking and it’s better for them to hear news first-hand.

 

When the Family Council Needs a Makeover

When a family council is formed for the first time, there is often a backlog of issues to be addressed by the newly formed group. The initial activities are specific to the needs of each business family, yet they often include the following: Helping the younger family members and spouses begin to understand the business and their role as stewards.

 

How to Attract the Next Generation to the Family Business

Every family business owner worries about succession and is concerned about the next generation's capabilities and commitment. Some pressure sons or daughters to go to work for the company, an approach that often yields disappointing results.

 

Accountability in Family Governance: A Key Variable for Building Trust

In a prior article, we discussed the difficulty that family businesses often experience in creating business cultures of accountability, constructing systems requiring accountability, and fostering accountability in individuals. Similar challenges with accountability exist in the family realm.

 

Linking Family and Business Governance in Later Generations

Author: Jennifer Pendergast, Stephanie Brun de Pontet, and John Ward Source: FBA

 

Family Education: Perfect is the Enemy of Good

By Amy Schuman We all know that educating family members and owners is key to family business success. An informed and skilled sibling partnership is more likely to be able to forge an agreement around values, goals and strategy.

 

Addressing the Fears that Come with Succession

It cannot be said enough: succession is a process, not an event. It is never too early to start having discussions on this topic and to start to get comfortable addressing the complex issues it raises for all stakeholders.

 

Family Business Survival: Understanding the Statistics

Perhaps the most quoted statistic in the world of family business is this one: 30% of family businesses make it to the second generation, 10-15% make it to the third and 3-5% make it to the fourth generation.​

 

Managing Family Employment--A Tough Balancing Act

More and more family businesses are putting in place employment policies that define requirements for family members entering the business.

 
 
Results: 762 Record(s) Found.

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