Recent surveys have unveiled a resounding consensus among family business leaders: the imperative to explore untapped territories ranks among the top priorities for strategic evolution.
Charles Claver, Senior Vice President and Private Wealth Advisor, discusses structures and strategies to implement for passing your business to the next generation successfully.
Each generation brings different thoughts and skillsets to the proverbial table and, unfortunately, these don’t always align. Nearly every family has its fair share of issues that has caused rifts and ripples between family members. In some cases, these disputes can go on for months, or even years, over perceived hurts.
If small businesses are credited as the engine of the U.S. economy, family-owned businesses generate the power. According to the U.S. Census Bureau, approximately 90 percent of American businesses are family-owned or controlled.
The First Bank Center for Family-Owned Businesses held a webinar on November 9, 2021 discussing the topic of succession planning.
The First Bank Center for Family-Owned Businesses held a webinar on August 10th, 2021 covering strategic planning as a foundation for family business succession.
A critical aspect of the longevity of a family business is selecting and preparing the next-generation leader.