Family Business

Data on family businesses, while hard to find, can be useful

PricewaterhouseCoopers has compiled a good database of family businesses in order to conduct research on them. The firm has just recently published the 2012 update.

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Archive by category ''Family Business

FAMILY BUSINESS

Don’t let dependency issues linger within a family business

Alcoholism and other chemical dependencies are the Trojan Horse of the family business. When someone is working in a company there is little to no tolerance for alcoholic symptoms. The risk is simply too great. While the danger may be the same in a family business, consequences can be significant.
FAMILY BUSINESS

Family businesses often face their own 'fiscal cliffs'

Family businesses are also notorious for facing the sorts of "fiscal cliffs" that the country narrowly averted. And with an over 65 percent failure rate, most do not find a resolution.
FAMILY BUSINESS

Apex family shares the secrets of their business success

The McGrath family has built Scotties Building Services into one of the top 10 largest window cleaning companies in the country, covering Virginia and both Carolinas.
FAMILY BUSINESS

Hutcheson: Gift-giving within family business poses challenges

Trying to discern what is reasonable can be challenging when taking into consideration their salary, which may have a degree of "family factor" baked in, the family fringe benefits, and whatever bonus from work they may receive.
FAMILY BUSINESS

Compensation issue can be tricky in family businesses

Try to establish an open understanding of how compensation will be dealt with. Be open about what factors are important in determining the total compensation.
FAMILY BUSINESS

How to tell your parents you don’t want to run the family business

The news will certainly be a let down to the parent, and as such, they may try to disregard this in an effort to keep their hope alive. Open communication from the beginning is the best strategy.
FAMILY BUSINESS

Tips for how to select the next family business leader

The typical family business could have multiple family members in the next generation vying for position as the future leader of the business. The importance of leadership must be discussed and understood.
FAMILY BUSINESS

How to tame sibling rivalries in the workplace

As a simple family member, it is fairly easy to achieve the goal of becoming an independent person with a healthy self-esteem. However, once placed into the world of profit and loss, the metrics for success become much more quantifiable and clear.
FAMILY BUSINESS

These 4 books hold timeless truths for family businesses, life

These books address the major elements of success for the next-generation family business leader: Have feelings, be structured, earn your way, and have passion, even if you have to break the rules sometimes.
FAMILY BUSINESS

Dealing with death in a family business poses unique challenges

The death of a family member and business leader can cause the perspective of those family members who remain to subtly change.