If you’ve watched the news or scrolled through your social media feed recently, you’ve probably heard the buzz regarding “Federal Deposit Insurance Corporation, or FDIC Insurance” and its importance in both good and not-ideal economic conditions.
Only 10% of the world’s top family businesses are led by women, but the numbers are rising.
A buy-sell agreement is a legally binding contract in which the owners of a business set forth the terms and conditions of a future sale or buy back of a departing owner's share of the business. Specifically, buy-sells control when owners can sell their interests, who can buy an owner's interest, and at what price.
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.
Author Rich Ryffel 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?