2023 Family Business Symposium - Building a Lasting Legacy: The Tenets of Multigenerational Family Businesses

  • First Bank
  • 12/11/2023
Dennis Jaffe, Senior Research Fellow at BanyanGlobal Family Business Advisors, shares his findings after interviewing 100 fourth-generation family businesses worldwide. His study, spanning 20 countries, found that multigenerational family businesses shared four key tenets: They have an exit policy, a family education process for the next generation, a family constitution, and a family council. Learn more about Jaffe's study and how successful family businesses have built a lasting legacy spanning across multiple generations to not only build a great business but a great family.

The Family Business Symposium, presented by First Bank's Center for Family-Owned Businesses, brought together family business owners for a two-day interactive event in Santa Barbara, California, on October 19-20, 2023.