Professionalizing the Family Business
July 14. 2020
The culture and structure of a family business is organically unique. Most family-owned companies reflect their founder’s ambitions and personal values. Successive generations preserve and cement these values as part of the organization’s culture. However, to grow and evolve, families need to step beyond the clan. Recruiting, retaining and developing external talent is a key element for any family-owned company that aims to professionalize operations.
Taiwan’s Family Business Succession Issues
July 02. 2020
Taiwanese family businesses face a severe succession issue. The vast majority (56%) of family-owned corporations in Taiwan are still owned by the original founder. These aging first-generation entrepreneurs must now seek their successors in a wave that could transform Taiwan's economy.
Family Businesses in the age of COVID: Q&A with EY’s Bobby Stover
May 27, 2020
With over 25 years of experience serving family companies, specifically in resolving the personal, transitional and tax challenges they face, Bobby Stover is an industry veteran. Based in Dallas, he now serves as EY Americas Family Office Leader.
Succession Planning: The Impact of Skipping a Generation
Dec 12. 2019 Some family offices choose a succession-planning path that skips a generation entirely, transferring wealth and business assets from grandparent to grandchild. While it isn’t common, there can be several reasons why.READ MORE
These Family Business Successors Have Built Businesses Bigger than Their Inheritances
Nov 14. 2019 For most family businesses, wealth preservation is a key focus of a succession plan. But some successors go far beyond simply preserving their family’s wealth. These entrepreneurial next-gen leaders use their family’s assets as a launch pad to create a much larger legacy.READ MORE
The Complicated Dynamics of Firing Relatives from a Family Business
Oct 30. 2019 Layoffs and workforce restructuring are commonplace across corporate America. However, the dynamics of letting an employee go are fundamentally altered when the company is a family business and the employee a family member.READ MORE
Can Search Funds Ease the Family Business Succession Crisis?
Sept 5. 2019
Family businesses and family offices face an impending succession crisis. Entrepreneurs without children or those who’ve been unable to convince the next-generation to take up the reins are left with no obvious successor in place.
Universities Aim to Educate Family Offices on Grooming Next-Gen Leaders
Aug 28. 2019
Universities are increasingly targeting next-generation leaders at family offices and family businesses. A slew of professional courses offered by prestigious institutions aim to plug the widening succession gap in family enterprises.