Research over the past three decades suggests that family assemblies, family councils and other governance structures help a business-owning family sustain their enterprise over multiple generations. As families become aware of the value of governance activities, they wonder how other families set up their assemblies and councils, how much they spend on governance and how the various governing bodies operate.
After a request at a recent Transitions conference, we decided to gather concrete information on how enterprising families conduct family governance. Subscribers to Family Business Magazineâs newsletter were asked to complete an online survey in December 2019 and January 2020. We received 320 responses.