By any standard, family-owned businesses have a huge impact on life in the United States. For a variety of reasons, statistics on the reasons family businesses fail to transition from generation to generation are also impossible to come by. Many businesses are sold because families have attractive financial opportunities to generate capital liquidity and other benefits that exceed the economic returns they might otherwise expect from maintaining their ownership. Family business also struggle with many of the same issues facing non-family businesses, such as competition, access to capital, and adversity caused by a variety of other factors, such as changes in government.
Let the Next Gen Advisors help your family owned business foster strong relationships and bottom line success through positive psychology. Our advisors can assist you in many different areas of your family business:
- Family Dynamics
- P/E Max
- Strategic Planning
- Appreciative Inquiry
- Conflict Resolution
“While the proliferation of articles, books, and seminars on subjects like succession planning, estate planning, and wealth management planning attests to the commitment professional advisors have for serving their family business clients, the continuing inability of family businesses to successfully transition from generation to generation suggests that the traditional planning tools that have been used on inadequate for the tasks at hand.” – Scott E. Friedman