Protecting the Future of Your Family Business

Experts estimate that family-owned businesses worldwide contribute more than half of gross domestic product and two-thirds of employment. Family-owned businesses also are among the most trusted type of business in America, yet most lack a formal business succession plan that can help keep the peace and ensure continued vitality of the family business for generations to come. Still, only about 30% of family businesses make it to a second generation and 13% last to a third. This episode of the First Business Bank Podcast includes recommendations to strengthen the future of your family-owned business.

Om Podcasten

The First Business Bank Podcast is a podcast for business owners and leaders — anyone helping to advance the social and economic standing of their employees, investors, families, and communities. Nothing is more important to a thriving economy than visionary entrepreneurs determined to succeed. As a business-focused bank that works every day with business leaders, this podcast details what we see working in highly successful businesses today. Each episode features an interview discussing business practices on topics such as company culture, communication, financial risk, strategic planning, financial performance, business continuity plans, sales strategies, foundational beliefs, and more.