Archive | Family Business

The Family Business and Your Adult Children

Family businesses account for about 30% of all small businesses according to the 2009 census data. Owning and operating a family business poses unique challenges for everyone involved. Each unique relationship poses a new set of concerns. For this post, we’ll focus on parents working with adult children, assuming the parent(s) runs the business. Sibling […]

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7 Tips for Your Family-Owned Business

Working with family will inevitably have its rough patches. Here are some tips that have helped other family-owned businesses work around the family dynamics. 1. Implement a clear chain of command. This will probably not mirror the family dynamic, so it’s critical to have a very clearly outlined chain of command. A hierarchy also makes […]

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