To truly understand the issues that impact a family business, you must see them for what they are: Family businesses are not a monolithic block, but rather a “species” with various sub-species, and any advice given to them should be tailored to fit that specific sub-species.
Your Family Business’s Resiliency Depends on Its Structure
Strategies for whether your business is solely owned, sibling controlled, or diffusely owned.
October 04, 2022
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Summary.
The ownership structure of the company is a decision every family business owner must face. There are three ways to go when it comes to ownership structure: 1) the solely-owned family business; 2) the sibling-controlled family business; and 3) the diffusely-owned family business, each of which comes with distinct advantages and disadvantages. In this article, the author provides resilience strategies for each type of family business, to help ensure successful transitions across generations, and the longevity of your business for years to come.