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Experts offer advice on setting financial goals for family business as the new year gets started.
Nothing causes a family business more distress than conflict and, even more so, the inability of family members to communicate.
Do these questions and statements sound familiar?
“We’re afraid to leave the business to the kids because they always fight among themselves.”
“Why won’t dad listen to me?”
“I don’t trust my sister...
Identifying Exit Strategies Key to Preparing Family Business for Transition.
Experts say communication is the key when setting up a succession plan, even for a family owned business.
Employees have endured an overload of change and employers are sensing a stark increase in stress and burnout. In fact, 44% believe the situation has worsened since the pandemic began.
While clarifying the current owner’s attitudes toward ownership succession sets the stage, determining who will actually operate the business and guide its success into the future is an equally important part of the process.
There are a variety of issues employers will have to consider in terms of state and local taxes for remote employees.
Like many, when I first became a manager, I was taught the cardinal rule of leadership: How to hold my team accountable. My success or failure as a leader hinged on making sure my team was performing at the level dictated by my leaders.
If someone did not hit their...
When the first wave of quarantine-related shutdowns and work-at-home transitions began in earnest in the spring, the initial focus from business leaders was taking care of the practical. Sorting out the logistics. Organizing the technology. The technical and procedural challenges associated with moving employees off site and continuing to...
Family businesses play a key role in our economy. According to the Family Owned Business Institute at Grand Valley State University, there are 5.5 million family businesses in the U.S., contributing 57% of the GDP. Passing on the business from one generation to the next is clearly important –...
What should businesses be talking about with their financial advisors? Experts say taking a goals-based approach to calm the fear and anxiety of market fluctuation.
Even during this uncertain time, business owners are exiting their companies. The question is: are they doing it on their terms? Frankly, most owners only transition out of their business once in their lifetime. Doing it right means it’s a win-win for the current owner, the new owner and...
We’re all experiencing fear and uncertainty due to COVID-19, especially in terms of safeguarding our family and friends. Business owners are also wondering “what’s next” when it comes to securing or maintaining our business’ value.
Regardless of whether you’re planning to exit your business in one year or several years,...
When a global pandemic capsizes your industry virtually overnight, the first step for anyone who finds themselves overboard is to make sure they don’t drown.
Earlier this year a member
of Clark Hill’s labor and employment law practice became the member-in-charge
of the firm’s Detroit office. As the first woman to take on this highly visible and important role in the Detroit office, Maria Fracassa Dwyer is committed not only to her law firm, but giving back to the greater community it serves.
