The COVID-19 pandemic has altered the business landscape, resulting in both demand shock and supply disruption. In a matter of weeks, we moved from growth and expansion to a full stoppage of non-essential activities, along with universal concern about the health of our families, friends and co-workers.
Once the coronavirus pandemic subsides and we shift to the recovery phase, we will begin to focus on the resiliency of family-owned business names and brands. For multigenerational businesses, this period represents a reset â a time to retrench and revisit who they are, why they are in business and how they differentiate themselves from their competitors. It is a rare opportunity for family businesses to examine their core brand and company positioning.