"All family businesses are unique.......uniquely the same".
Family businesses comprise 80-90% of all business enterprises in North America. Family owned businesses account for:
· 37% of Fortune 500 companies
· 60% of all public companies
· 78% of all new jobs
· 60% of total U.S. employment
Unfortunately, the chance of successfully transitioning a business from one generation to the next is quite low. Only 30% of family owned organizations survive into the second generation. 12% will survive into the third generation and 3% operate at the fourth generation and beyond. Yet, the majority of family business owners want the business to stay in the family.
BCG is committed to working with family businesses in order to accomplish the goals and objectives of the family and the business. We understand the unique challenges that family businesses confront. Our pragmatic approach is designed to facilitate solutions to family and business issues, decide on the best course of action, and implement plans that will help the family business succeed for generations.
Services provided to family businesses by BCG include:
· Succession Planning
· Leadership Development
· Enhancing Family Relationships and Communication
· Strategic Planning
· Articulating Family Dreams and Values
· Facilitating Family Meetings
BCG's approach to working with family businesses is by utilizing a 3-circle model. To learn more, click the model
Most importantly, BCG understands the delicate balance between the needs of the family and the needs of the business. Our approach is based upon the following doctrine:
· The family business is the client.
· Respect and honor the preservation of the family values.
· Use knowledge, experience and observations to educate and anticipate likely results.
· Facilitate goal setting and implementation strategies without being judgmental.
· Facilitate solutions through dialogue and communication.
· Collaboration amongst professionals through an interdisciplinary approach best serves the clients needs.