Jan Shields’ daughter, Jill Ottaway, joined the family business, Polystone Creations in Cleveland, Georgia, as office manager to be closer to her mother when her father passed away a few years ago. For Shields, getting to work in such close proximity daily has been a delight.

Ted Genoways considers José Cuervo's colorful history, from eluding Pancho Villa's death threats to bringing tequila north of the Mexican border.

Minimizing the Stepping on Each Others’ Toes When dealing with family members who work together, certain subjects come up all the time. One challenge I’m always working on is making things more clear for everyone, because much of the confusion that such families face comes from the fact that there’s a lack of clarity around […]

Joining Mom and Dad can work as long as you know what you’re bringing – and what you’re giving up

As family-run businesses face growing financial challenges, Dragons' Den investor, Deborah Meaden, has called them the 'backbone of the economy'.

UBS wealth adviser predicts M&A activity as heirs prepare to take on family fortunes.

Farmers have raised significant concerns about the future of their farms, with many expressing doubts over passing them to the next generation.

Zummo Sausage is part of Beaumont's very tapestry. The well-known, fourth-generation family-run business has its roots with Frank Zummo, who moved to New Orleans from Sicily at the age of 11. While there, he started working in meat markets and became interested in the meat industry. He relocated to Port Arthur when he was 20.

By anticipating potential adversarial cycles, advisors can foster collaboration and innovation, ensuring long-term stability and success.

Shadow chancellor claims economy needs a ‘radical rewiring’ as he criticises Government’s cut to business property relief

A cooling white-collar job market pushed some recent college grads toward the family business. ‘The idea of working with my dad is becoming way more appealing.’

A tightening white-collar job market is one reason the number of adults who’ve gone to work for a family-owned business has doubled since 2019. Apr 16, 2025 Over the past year, hunting for white-collar jobs has gotten tougher, as many companies reduce managerial headcount or leave vacant positions unfilled. The resulting tight labor market for college-educated candidates could still worsen if the economy slumps and causes more layoffs. Should that happen, the already rising number of younger

A study found family businesses are more likely to be passed on from father to son rather than to daughters.

Family-owned enterprises continue to be a major driver of global economic growth. The world’s 500 largest family businesses generate US$8.8 Trillion in revenues – a 10% increase from the 2023 index – and employ 25.1 million people worldwide across 44 jurisdictions. The aggregate revenues of these businesses, if compared to GDP by country, equate to the world’s third largest economy, ranking behind only the US and China. These and other findings were published today in the 2025 EY and University

Navigating the intricate landscape of a family business is a journey filled with both rewarding milestones and formidable challenges. Among the most daunting of these challenges is initiating and engaging in difficult conversations. These discussions often unearth past traumas or unresolved issues, making them particularly sensitive and complex. However, addressing these topics is essential for the health and longevity of both the family and the business.The Reluctance To EngageIn family enterpr

Family businesses often embody generations of hard work, dedication, and a deep sense of heritage. Maintaining control of such a business within the bloodline is often a top priority for families. However, life events such as marriage and divorce can pose risks to this continuity, particularly when it comes to ownership shares. This is where post-nuptial agreements—legal contracts signed after marriage—play a vital role.What is a Post-Nuptial Agreement?A post-nuptial agreement is a legally bindi

A well-structured succession plan is key to ensuring the smooth transition of a family business, yet many owners remain unprepared. A recent survey of over 500 UK family business owners reveals that only one-third have a formal succession plan in place. Meanwhile, 46% are still working on a plan, and 19% have no plan at all, leaving the future success of their business uncertain. With owners aiming to transfer ownership within the next 12 years on average, delays in planning could create instabi

KPMG Private Enterprise have launched a new report that considers the diversification of the family businesses financial, human and social capital entitled ‘Redefining Wealth in Family Businesses.’Family businesses the world over are well known for their patient capital strategies and a focus on long-term value creation, the concept of ‘capital’ and how it is allocated is evolving, and with the idea of patient capital becoming more expansive and inclusive. Indeed, the idea of patient capital no

Running a family business is a journey filled with unique challenges and rewards. As family dynamics intertwine with business operations, it can create a complex environment that requires careful balancing acts.Understanding Family Business ChallengesFamily businesses face a plethora of challenges that can impact their operations and sustainability. These challenges often stem from personal relationships, emotional ties, and the interconnectedness of family life and work. For instance, how decis

The latest survey by Family Business United has highlighted the key challenges family business leaders are tackling in boardrooms across the country.Amid ongoing political and economic uncertainty, compounded by changes announced in last Autumn's budget, running a family business is no easy task. This year's Family Business Survey aimed to capture the primary issues facing family enterprises and shed light on the complex decisions they must navigate.The results are in, following the canvassing

The Autumn Budget introduced significant changes to the Inheritance Tax (IHT) system, specifically affecting how Business Property Relief (BPR) and Agricultural Property Relief (APR) apply to family-owned businesses. These reforms are expected to have a major impact on family businesses and farms across the UK, particularly those with multi-generational ownership.With 5 million family firms in the UK employing more than 15 million people and contributing over £200 billion annually in taxes, the

More than 200,000 jobs in family-run businesses and farms are at risk after the government’s decision to cap relief on business and agriculture, a survey has found. A poll of 4,200 family-owned companies and farms across the UK found that the introduction of inheritance tax on estates is leading businesses to cut back on hiring and investment, with some considering selling their companies altogether. The poll was commissioned by Family Business UK, a lobby group, and carried out by CBI Economics

A California woman struggles with guilt after declining her pregnant sister's request to move to Chicago to help with a family business

The key is to motivate the next generations to contribute to the family business in a productive way. You can look to Lawrence Welk's family as a prime example.

Family businesses can be uniquely resilient. Their long-term strategies, trust-based leadership and stakeholder focus can offer valuable lessons for any leader.