Family-owned businesses account for two-thirds of all businesses and some of the world’s most successful businesses, like Wal-Mart and Berkshire Hathaway. However, family-owned companies face unique challenges. Here are seven resources that can help.
[Read more: What to Know About Taxes When You're Running a Family Business]
Family Business Alliance
The Family Business Alliance is a nonprofit providing resources for family businesses. When you join the organization, you'll have access to over 450 other family-owned businesses you can learn from.
Depending on your membership level, you can access a peer group of like-minded business professionals. Peer groups are a great place to discuss challenges, learn leadership skills, and develop new business strategies.
The Family Business Alliance also puts on programs and events to help further your learning. For example, there's a program on succession planning and events scheduled throughout the year.
Family Firm Institute
The Family Firm Institute provides events, research, and resources for family-owned businesses. The organization hosts an annual global conference where you can meet other professionals, attend breakout sessions, and learn from speakers.
Members can access a searchable directory of other members and professional organizations. You’ll also receive access to the latest research on family enterprises.
[Read more: The 3 Keys to Success (and Failure) in Family Businesses]
The Family Business Alliance is a nonprofit providing resources for family businesses. When you join the organization, you’ll have access to over 450 other family-owned businesses you can learn from.
Family Business Consulting Group
The Family Business Consulting Group (FBCG) is a consulting firm offering services specifically for family-owned businesses. There are more than 100 educational programs available addressing the complex problems facing family enterprises.
Workshops are available on conflict resolution and improving communication in family businesses. FBCG can also assist with succession planning, ownership changes, and training future owners on their responsibilities.
You'll learn how to create and implement policies that align the family and provide clear guidance when making important business decisions. You can also check out the many free resources, including webinars, books, podcasts, and videos.
Oracle NetSuite
Oracle NetSuite offers business management software for family-owned businesses. The integrated solution lets you manage your company's finances, sales, customers, and supply chain in one location.
You’ll have access to a live dashboard and analytics, so you'll always know what’s happening with your business. Oracle NetSuite is a scalable solution that can grow alongside your business.
Institute for Family-Owned Businesses
The Institute for Family-Owned Businesses is a nonprofit dedicated to helping family-owned companies in Maine. The organization provides outreach programs, networking opportunities, and resources to help you run your business more effectively.
Over 50 programs are available that can help you in every area of your business. For example, you can learn about intergenerational issues, leadership development, and strategic planning. There are also events scheduled throughout the year that you can take advantage of.
Family Business Performance Center
The Family Business Performance Center is an online coaching business run by Pete Walsh, who spent 16 years working in his own family business. As a client, you can access online videos, written exercises, and workshops.
There are also workshops available to help families learn better communication skills and address challenges as they arise. You can attend a live workshop in Phoenix, Arizona, or have Pete and his team come to your town and deliver the workshop at your business. Once you've attended a workshop, you're invited to participate in individual or group coaching.
U.S. Small Business Administration
The U.S. Small Business Administration (SBA) provides many useful resources for family businesses. These include free educational resources on conducting market research, writing a business plan, and choosing a business structure.
The SBA is also an excellent resource if you're looking for funding opportunities since it offers a variety of SBA loans with low rates and flexible repayment terms. You can also check out the SBA's partner resources, such as SCORE, Women’s Business Centers, and Small Business Development Centers.
[Read more: Small Business Development Centers: What They Are and How to Find One]
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
