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.
It’s no secret that we’ve been in an upward trajectory for both inflationary prices and interest rates. A complex question asked by most consumers is, “Is the Fed done raising rates?” And, if they’re done raising rates and decide to lower them, “How will this rate reduction impact my investments and overall wealth building strategy?”
With the increase in optimization software, many businesses are turning to the assistance of Artificial Intelligence (AI) to help automate processes and maximize efficiencies. One such father-son business, Inspira.AI, helps owners and leaders monitor how much time at work employees really spend on work as well as help coach employees who may struggle to stay focused.
This article discusses how a founding family member establishing and growing a successful business is only the first step. The next generation of leaders need to strategize and reestablish what business they are in, what the goals will be, and how to achieve this new path.
Charles Claver, Senior Vice President and Private Wealth Advisor, discusses structures and strategies to implement for passing your business to the next generation successfully.
Brett Tijanich, Commercial Team Leader and Senior Vice President at First Bank, discusses the importance of liquidity management for family-owned and privately-held businesses.