News
Protecting the family business from fraud
“It happened to me.” I heard that repeatedly after a Family Business Alliance session earlier this month on “Fraud and Embezzlement in the Family Business.”… READ MORE
Proposed business discount eliminations will not be finalized in 2016
Sprinkled among the political thunder and lightning we’ve tried to escape this year is a proposal to change tax rules affecting transfers of ownership of… READ MORE
Retirement strategies for the family business owner
Which type of business owner are you? 1. “I plan to stay at the helm of my business until I drop,” or 2. “I’ll work… READ MORE
Family business best practices: an overview
What does it take for a family business to be world class? There are four well-known best practices derived from studying multigenerational family businesses the… READ MORE
Family meetings: identifying exactly who is in the room
Everyone has that odd uncle who shows up at family events and creates awkwardly memorable situations. What if that uncle is not just a family… READ MORE
Four mistakes family business owners make with their exit plan
Have you ever seen someone walk unsuspectingly into a glass door? I’ve been that person. What’s the worst part? Knowing it was totally preventable. While… READ MORE
Is yours a family business? You are not alone
Are you the founder or next-generation owner of a company? When at work, do you see family members on a daily basis? If you answered… READ MORE
Succession planning: the first step to transferring ownership
It is no secret the odds are stacked against closely held business owners when it comes to successfully transitioning their businesses from one generation to… READ MORE
Successful transition planning: the future of a family business
According to the Family Firm Institute, only 30 percent of family businesses survive into the second generation, and by the third generation, only 12 percent… READ MORE
Understanding a family’s impact on business values
Nearly all family businesses are created with the intention that the business will grow and be successful, generating value for its owners, employees and community,… READ MORE
Best practices for separating business and personal finances
In family-owned businesses, the line dividing your business and your personal life is already blurred. For many generational family businesses, the lines are more blurred… READ MORE
Getting to know the millennial generation
According to the U.S. Census Bureau, in 2015, the millennial generation or “Gen Y” (those born from 1981 to 1996) is projected to outsize the… READ MORE
The missing piece: the family wealth counselor
Family business is one of life’s most exciting, challenging and rewarding endeavors. When you decided to start or become involved in a family business, you… READ MORE
Creating a Family Constitution to avoid consternation
Most family businesses fail by the third generation, but few family business owners anticipate or acknowledge the risk of failure, according to data compiled by… READ MORE
Raising kids amidst family business success
The next generation of family business owners is required to be many things. They are expected to be smart — even smarter than their talented… READ MORE
How can family businesses retain outsiders?
The ability to attract and retain talented employees is key to the long-term success of any business. If you own a family business, you may… READ MORE
Tax changes affects family businesses, but there’s still time to plan
For most of us (or perhaps all of us), writing checks to the IRS does not make our Top Ten list of things we look… READ MORE
Family-owned business need family meetings
Research tells us there are three key factors for the perpetuation of a family-owned business: having a strategic plan for the business, using a board… READ MORE
Exit strategies for family business owner
The manager of a family business who is considering retirement often has four goals: paying as little in taxes as possible, keeping the business in… READ MORE
Successful leadership transition: traps to avoid, tips for success
It’s never easy to step into a leadership role from outside an organization. Michael Watkins, an authority on leadership transitions, has concluded through his research… READ MORE
