Family Owned Business Services

Family businesses, the backbone of America’s economy, are facing the challenges of moving from one generation of ownership to the next. In privately held corporations across the nation, a common refrain is—How can we keep the family in our family business?

• 60% of all public companies in the US are family controlled and many were founded following WWII, so succession planning is a HUGE issue, impacting 13 million businesses in the US.
• Our nation NEEDS successful family companies. Family businesses fuel the engine of our economy. 80% of North American businesses are family-owned. They create 78% of all new jobs and 65% of the wages paid in our country. Family run businesses account for 50% of America’s gross domestic product.
• Being family owned doesn’t equate to being a small business. Family firms are present in every spectrum of American business. Nearly 35% of family controlled companies are members of the Fortune 500—businesses like FORD and Wal-Mart.
• There are growing numbers of family businesses, a trend that began on September 11, 2001.

  (Source: Cox Family Enterprise Center)

While all businesses wrestle with growth, privately held companies also struggle with deciding how to:

• Identify the most critical issues,
• Assess where the business is today and what must be done to transfer company leadership and ownership,
• Choose successors,
• Attract and retain non-family executives,
• Strengthen family/shareholder harmony,
• Set a vision for the future that the family supports, and
• Implement a succession plan that meets the family’s and employees needs

Work Volf Consultants understand the special needs of privately held businesses and their owners as they consider succession planning and support performance improvement. Work Volf Consultants offers a wide-range of consulting services and executive coaching custom-designed to meet the needs of family businesses.

Contact Work Volf to learn how you can keep the family in your family business.