Congratulations on deciding to purchase a new home! The spring season is often a busy time for homebuyers. Inventory is typically higher during this time, meaning buyers have more options.
Although producing a high-quality product or service that consumers want or need is essential to a successful, sustainable family business model, there’s yet another component that shouldn’t be overlooked: building authentic client relationships.
Author Ken McCracken explores economist and philosopher Adam Smith's thinking on self-interest and sympathy and how to apply it to succession planning.
The author discusses how running a business and a family unit with an eye toward diversification is the best way to ensure a family’s legacy and, ultimately, the enjoyment of the fruits of the family’s labor for generations to come.
When developing a succession plan for your business, you must make many decisions. Should you sell? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest?
In partnership with MacKenzie Corporation, First Bank’s Center for Family-Owned Businesses surveyed 552 respondents for its “2023 Family Business Survey”.
As a multi-generational, family-owned business, we’ve gained first-hand knowledge and experience in addressing the unique challenges family businesses encounter as well as recognizing the importance of stability, progression, and long-term perspective.