Nationally, about seven out of ten businesses are family owned. In the Northwest that ratio is about nine out of ten. Over the next five to ten years, around forty percent of the leadership of these companies will transition out.
Yet, the statistics are sobering:
- 70% of these businesses will not make it from the first to the second generation.
- 90% will not make it to the third generation.
Sometimes it takes someone who knows business and family and ownership dynamics, but who is not in your family business to help you plan for, and successfully pass on the family legacy from one generation to the next.
Family Business Advisers has come about in response to those needs. For the past 12 years, we have helped families successfully balance the dynamics of family, business, and ownership. We understand that a family business is a unique entity and requires a personal, distinct approach. We work closely with families to identify the issues facing their business and to effectively navigate these challenges. Once these are addressed, we help define a succession plan that will ‘Sustain the Legacy’ as it moves to the next generation.