Historically, professional advisors primarily focused on business-related matters, often overlooking the unique challenges and intricacies associated with managing a family-owned business. However, there is a noticeable shift toward seeking advice on non-business, yet equally important, aspects of family business.
Business owners anticipate changes in the future with things like strategic planning, life insurance policies, estate and trust documents, and more. However, what happens when all of this is circumvented by life changing events with family members and key employees?
The First Bank Center for Family-Owned Businesses held a webinar on December 14, 2021, discussing the challenges that next generation business leaders face.
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.
The First Bank Center For Family-Owned Businesses held a webinar on navigating the hidden dangers in a family business.
Making decisions for any business can be cumbersome, but in particular for family businesses. Because the family is woven into the business, some decisions can hold more weight. Here are four tips to help you balance the business with family business decision making.