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Management in Family-Owned Businesses While they do not receive the press attention of large corporations, small and family-owned businesses are critical drivers of the U.S. and global economies. A brief review of facts highlights the importance of such businesses:
 86% of U.S. businesses employ fewer than 20 individuals.(1)- Family-owned businesses contribute nearly two-thirds (59 - 64%) of the U.S. GDP.(2)
- The executive leadership of 39% of family-owned businesses will change hands in the next 5 years.(3)
These small and family-owned firms face many management issues that are less relevant for their larger counterparts. Orion Solutions has assisted a wide array of family-owned businesses in planning for the future. We understand the demands addressed by the managers of such organizations. Specific areas of professional services expertise include the following:
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Succession Planning - Generational Transfer and Other Considerations
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Family Dynamics in Managerial Behavior
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Financial Management - Capital Raising and Taxation Issues
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Strategic Planning for Small Business
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Small Business Marketing Techniques
Sources:
(1) U.S. Census Bureau, Economic Census Data, 2005.
(2) Astrachan, J.H. & Shanker, M.C. (2003). Family Businesses' Contribution to the U.S. Economy: A Closer Look. Family Business Review, 16, 211-219.
(3) American Family Business Survey. (2003). Raymond Institute & MassMutual Financial Group |
"Nobody talks of entrepreneurship as survival, but that's exactly what it is and what nurtures creative thinking."
- Anita Roddick ,
Founder of The Body Shop
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