Special Financial Considerations for Husband & Wife Family Businesses
The Wall Street Journal reported that one-third of all family businesses are operated by husband and wife teams, representing a substantial number of all businesses. READ MORE
Infographic: Top Family Business Statistics You Need to Know
Information graphics, aka “infographics,” are used to visually present statistical information in a compelling and easy-to-understand manner. For family businesses, infographics are useful primarily for the overall impact they may have – especially if they encourage the pursuit of further … READ MORE
Why All Family Businesses Should Start Succession Planning Today
Succession planning is likely the most common topic presented by family business advisors and other experts, but for good reason. It is something every family business should do, yet less than 70% of them make it to the second generation, in part due to lack of a plan. Succession planning may seem overwhelming and too large and complex to approach. However, there are steps your family business can take today with many reasons as to why this shouldn’t be put off any longer. READ MORE
Preventing Fraud in the Family Business
We’ve all read about business fraud, perhaps even in our local region. A trusted employee is discovered to have diverted company funds to themselves for years – the results being a loss of tens or hundreds of thousands of dollars, the former employee facing at least public humiliation for the crime, if not jail time, and the shattering of the myth of the business being safe. READ MORE
How Key Advisors Can Work Together to Benefit the Family Business
If your family business has achieved any measure of success, you already know that it couldn’t be accomplished without the assistance of one or more trusted business advisors, such as an attorney or a CPA. To ensure continued success for the next generation and beyond, your key advisors should be called upon to work together to help you tackle upcoming challenges. READ MORE
