The correlation between succession planning for family businesses and successful transfers to the next generation could not be more direct. One third of family-owned businesses have a succession plan; ...

"As a preliminary matter, family leaders need to decide whether the mission of their business is solely to maximize profits and value for the family’s benefit or is it broader: to not only provide ...

Mark Swepston spent his professional life building an already strong company, Atlas Butler, into an even more vibrant, community-oriented organization that is a nationally recognized leader in ...

As part of NJBIZ’s latest virtual panel, participants discussed how family businesses can survive and thrive across multiple generations. Earlier this month, Trump signed into effect sweeping tax and ...

According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of family businesses have no formal succession plan. 1 While the ...

NJBIZ panel discusses succession and planning for family businesses Also covers implications from tax reforms in the One Big Beautiful Act Access to capital, M&A trends and tariffs remain major ...

Crafting a succession plan in a family-owned business ensures its survival and growth and also enhances cohesion and preserves the entrepreneurial spirit across generations. Nearly two-thirds of ...

When it comes time to plan for future ownership and management of a business, careful consideration about who should receive ...

External shocks like tariffs, pandemics, or supply chain breakdowns often expose a hidden truth: too many family-owned businesses have no real plan for what happens when leadership suddenly changes.