Yes, Virginia, there is financing available

In these trying times, there are several steps family business owners can take to find a stable lender and to ensure they obtain the financing they seek.

By Glenn Gray

Despite the barrage of recession-related doom-and-gloom stories, financing is still available for family-owned businesses. Many healthy banks are hungry to lend to the right clients. Even in these trying times, business owners who do their homework can find a stable lender that understands their industry.

Leaders of family firms should be aware, though, that prospective lenders know the family dynamic can pre-sent a unique set of challenges. When making a decision about financing, lenders will do more than just review the company’s past achievements. They will also look for evidence that a solid succession plan is in place, and that the … Read more

McKinsey report adds two circles

The January 2010 issue of McKinsey Quarterly, published by McKinsey & Co., one of the world's most respected consulting firms, features a report entitled "The Five Attributes of Enduring Family Businesses."

The McKinsey report quotes the oft-cited statistic that less than 30% of family businesses survive into the third generation of family business ownership. It adds:

Those that do, however, tend to perform well over time compared with their … Read more

Succession Thought Leadership From Drew Mendoza

Family Business Consulting Group’s Drew Mendoza speaking at Banamex on the impact of the economic crisis on family business succession.

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Family Business-Stetson U. conference early-bird rates end March 1
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Kirin ends merger talks with Suntory
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Seattle Times Co. restructures its debt
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