Key Things for Multigenerational Family Business

Did you know that 30% of family businesses make it to their second generation, while only 12% still have the business going in the third generation? According to The Family Firm Institute, about 3% of all family businesses remain into and beyond the fourth generation. Research further indicates that family company failures usually happen because […]

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What is a Family Constitution?

Family businesses can get somewhat difficult to manage due to various aspects of family dynamics, such as expansion or generational change. History has shown that the majority of family businesses fail before the third generation has ever had a chance to enjoy the success. Most of them fall apart due to internal conflicts rather than […]

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