To stay apprised of the specific needs and challenges of family businesses, we again commissioned the expert assistance of market research firm MacKenzie Corporation, a second-generation family business in Orange County, California, to conduct our 2024 Family Business Survey. Read more about three optimistic findings from this year's results.
The decision to sell a business can be difficult, especially when it’s a family business. How does a family business leader determine when it’s time to sell the family business and how can he or she best ensure a successful sale?
A buy-sell agreement is a legally binding contract in which the owners of a business set forth the terms and conditions of a future sale or buy back of a departing owner's share of the business. Specifically, buy-sells control when owners can sell their interests, who can buy an owner's interest, and at what price.
Ensuring you’re working with the right business partner is a key to having a successful business and economic prosperity.