Attend our next event!
Succession: Striking the Right Balance Between the Financial Needs of Your Family and Your Business
Presented by: Greg Greenleaf, Family Business Consulting Group
Wednesday, December 12, 2012 / 5:00 - 7:30 p.m.
Henry Student Center, Wilkes University - 84 West South Street, Wilkes-Barre
Transition is our theme! The transition to our new home is in the final stages and we hope you will join us for our first event at Wilkes University! Jeff Alves, the Dean of the Jay Sidhu School of Business and others from Wilkes will be on hand to share updates and the exciting plans for the FBF going forward.
Our program is also about successful transitions - yours! Balancing the needs of money for the family with the capital needs of the business is an important and sometimes thorny issue for families to work through as they face succession. The two go hand in hand. Greg Greenleaf will discuss how to develop the right financial equation for your family and for your business while ensuring family harmony. Greg will present mini case studies for the group to discuss and share ideas as well as offer best practices on how to strike the right balance. Whether your succession is imminent or years away you will gain important insight on how to successfully manage liquidity and a transition that will strengthen the business and meet the needs of all involved.
Directions to the Henry Student Center at Wilkes University!
Family Business Checklist developed by John Ward - presented to the FBF, February 2008.
The Family Business Forum at King's College recognizes the unique joys and challenges associated with operating and sustaining a successful family enterprise in northeastern Pennsylvania. Family-owned businesses are fundamentally important to the U.S. and regional economy. In fact, 92% of all US businesses are family-owned. However, the challenges can be overwhelming. Consider the following:
- 30% of all family-owned businesses will survive into the second generation. Only 12% will succeed to the third generation, with 3% continuing into the fourth generation and beyond.
- 81% of business owners want their business to stay in the family, yet 25% have not completed an estate plan and 20% are not confident of the next generation's commitment to the business.
The Mission of the FBF:
To provide a learning and networking forum for family businesses, program sponsors, and the students and faculty of King's College, which enhances the family business community in Northeastern Pennsylvania.