Family Business Blog & News Articles
Read the latest news and updates of what’s happening at Family Business USA. Look through the posts below to get the newest details.
From Siblings to Cousins: What to Agree on Before the Next Generation Takes Over
Before cousins take over the family business, discuss leadership, ownership, and how they will work together. Two siblings may have spent decades learning how to run a business together. They know which decisions to discuss, which disagreements to leave alone,…
Should Siblings in a Family Business Receive Equal Pay?
Equal ownership does not always mean equal responsibilities or equal pay. Two siblings can own the same percentage of a family business and still have very different jobs. One may be responsible for employees, customers, and the company’s financial performance,…
Why Most Family Business Successions Fail (And It’s Not the Next Generation’s Fault)
When a family business succession fails, most people assume the next generation is to blame. “They weren’t ready.” “They weren’t capable.” “They didn’t have what it takes.” While there are certainly situations where the next generation isn’t prepared to lead,…
What Growing Up in Two Family Businesses Taught Me About Succession
Family business is in my blood. My grandfather was Olan Mills, founder of what became the largest studio portrait company in the United States. Long before social media existed, Olan Mills helped families capture and preserve their memories. In many…
Family Business Succession Planning: What Most Families Get Wrong
What The Economist Gets Right About Family Businesses and What Matters Next Recent coverage in The Economist highlights something the business world often overlooks: family businesses are not a niche. They are a dominant force in the global economy. They…
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