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Managing Employees and HR

2 Posts tagged with the family_business tag
All in the Family: Five Tips on Mixing Business with Relatives
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Within Managing Employees and HR

Posted by: SBOC Team, Mar 7, 2012

by Jen Hickey. How do you run a business with family? When starting a business, hiring your wife, siblings and/or children is usually the most affordable and reliable option. However, as a business grows, and more family members are brought on board, problems often arise.  How those conflicts are dealt with will determine whether your business will survive to the next generation or fail in this one. According to the Family Firm Institute, 70 percent of all family-owned businesses will not...
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Passing the Baton Without Dropping the Ball: Best Practices in Small Business Succession Planning
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Within Managing Employees and HR

Posted by: SBOC Team, Jul 29, 2011

For many small business owners, their company is like their child. As such, they invest the majority of their time and resources into ensuring the business stays healthy and has opportunities to grow and maximize its potential. Few focus on preparing for that inevitable moment in the future when they will have to hand their baby over to someone else. This may partially explain why of the 90 percent of 21 million small businesses in the United States that are family-owned, only 30 percent...
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