Rely on Family Bonds or Opt for a Formal Agreement?

 CONTINUITY  
FAMILY BUSINESS CONSULTING 
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Earlier this week, The Wall Street Journal published an article titled “5 Monday Must Reads.” One of their "must reads" was about family businesses.

"Family Businesses can operate for generations without formal agreements, licenses or even a legal structure, relying instead on family bonds to hold everything together. That's a big mistake, lawyer Chas Rampenthal writes..." (WSJ.com).

Many lawyers, and other business professionals in the family business industry, agree with Rampenthal, and believe this is a big mistake! Some believe that relying on family traditions and values may work for some, but overall, it does not lead to success for family-owned businesses.

Continuity Family Business Consulting specializes in helping your family business reach an optimal level of success. We  believe the importance of developing and implementing clear policies, no matter how small the company, cannot be overstated. Developing effective agreements and policies are critical, especially when a business transitions from one generation to the next.  

 For more information, visit ContinuityFBC.com.