Family Business Advisory Services

It’s a little known fact that nearly 90 percent of the approximately 26 million businesses in the U.S. are family owned. Family-owned companies are credited with generating not less than 64 percent of the Gross Domestic Product (GDP). Beyond their influence on the nation’s products and services, family businesses are also major employers of our country. It is suggested that they employ over 60 percent of the total workforce and that nearly 75 percent of all net new jobs are the result of family business hiring. Throughout our country, people pour their heart and soul into building family companies. Unfortunately, few put that same passion into preparing for the next generation to take over. Or working on important issues such as strategic planning and succession planning to prepare for growth and the development of the up-and-coming leaders that will navigate these companies to a long-term sustainable future.

Beyond sheer entity numbers, the economic influence of small business is significant. Nearly half of the economy in America is generated by those businesses that employ between 2 and 99 employees – a much smaller number than the current description of small business which is defined as companies employing between 500 to 1,000 people. Family-owned companies are both large and small. In fact, 35 percent of Fortune 500 companies and 60 percent of all publicly-held companies are family-controlled (owning more than 51 percent of stock). But the “truly small” business which also happens to be family-owned (or closely-held with two or more families in control) has some unique challenges. These small businesses seldom reach out beyond their walls to seek guidance. Many say they lack the trust, knowledge or financial resources necessary to secure the professional services they might be encouraged to use. The situations facing these companies are also complex. Add to the mix the fact that discussing transition and succession planning is linked with issues of personal wealth, family, sibling rivalry, community status and relationships. Simply put, business owners like this often don’t know where to start. The BDS team believes in the inherent value of family businesses as the foundation of our country’s economy. We believe that family businesses deserve to have a trusted advisor who helps orchestrate the process of growth and transition. Our advisory services include:

  • Strategic planning for the business and the family
  • Succession planning
  • Family conflict resolution
  • Transition assessments and planning tools
  • Capital restructuring
  • Organizational structure
  • Coaching and mentoring
  • Peer to peer connections