More than half of all employment can be attributed to the family-owned business.
When times are good, they’re great, but when things go south they can strike the family-owned business especially hard, as these businesses have a separate set of issues and concerns.
Family businesses face issues with succession; leadership; role reversal (what if the father must work for the son?); and, of course, there’s the concern of business affairs that may taint the family relationship.
Here, then are 10 top resources for family-run businesses, or for those who are considering launching a business with a family member or loved one.
1. Loyola Family Business Center
The mission of the Family Business Center is to “further the understanding, growth and development of responsible family-owned businesses in the Chicagoland area.”
2. Center for Family Business
University of New Hampshire family business center, founded in 1993, the mission of this program is to “assist the entrepreneurial family in finding solutions to its unique business challenges and concerns.”
Fambiz.com is a non-profit organization hosted by Northeastern University’s Center for Family Business.
4. Family Business Center
The University of Wisconsin – Madison family business center.
Membership organization’s fee grants access to resources and lectures.
5. Family Business Experts
The online site for the Family Business Institute.
The Family Business Experts’ mission is to maintain family unit while growing your business.
6. The Family Business Network
Non-profit for the next generation of family business owners (ages 18-40), operated by family business owners.
7. Family Enterprise USA
Family Enterprise USA (FEUSA) is an independent, national non-profit membership organization whose aim is to serve as the collective voice of advocacy for family business owners.
8. The Family Business Consulting Group, Inc.
The Family Business Consulting Group (FBCG) offers consulting and webinars for entrepreneurial families.
9. Family Firm Institute
A national membership organization devoted to “innovative and visionary thinking about how to understand and serve families in business.”
10. National Center for Family Business
The National Center for Family Business has a mission to help entrepreneurial families avoid the common company pitfalls.