Field Guide to Family Firms
(Updated September 2009)
Family firms have their own special type of problems and concerns--hiring children who aren't interested in the family business, concerns of favoritism among non-family staff, succession issues and much more. Find out how to tackle these problems from the following articles and family business organizations. (Victoria Broady, Information Specialist)
Facts about Family-Owned Businesses
80% of the world's family businesses are family-owned
Nearly 35% of family-owned businesses are Fortune 500 companies, including Ford, Wal-Mart and Anheuser-Busch
More that 25% of family firms expect the next CEO to be a woman
More than 30% of all family-owned businesses survive into the second generation.
Source: Cox Family Enterprise Center, (www.kennesaw.edu/fec).
Myths about the Family Owned Business, (Leibowitz & Associates, PC).
Family-Owned Businesses: Walking the fine line between Family and Work, (Baby Shop Magazine).
A Family Affair, (HRMagazine, Aug. 2009). Q
FIRST-CLASS COACH, (Management Today, Apr. 2009). Q
Reinvent: Work, Family...Together?, (Wall Street Journal (Eastern edition), Mar. 15, 2009). Q
Forestalling Family Feuds, (Progressive Grocer, Nov. 2008). Q
The right way to value your family business, (Contractor, Jun. 2008). Q
The Family-Owned Business, (Pepperdine University, 2007).
Succession Planning
7 questions to ask yourself before you sell to your family, (REALTOR® Magazine Online).
Family Matters, (Best's Review, July 2009). Q
Guiding Family Businesses Through the Succession Process, (The CPA Journal, June 2009). Q
The Right Mix, (National Underwriter. Life & Health, Feb. 2, 2009). Q
YOU CAN'T TAKE IT WITH YOU, (Black Enterprise, Nov. 2008). Q
Are Your Children Ready To Run the Family Business?, (Rural Telecommunications, July/Aug. 2008). Q
Factors Preventing Intra-Family Succession, (Family Business Review, June 2008). Q
Practical Succession Planning for the Family-Owned Business, (Tax Management Estates, Gifts and Trusts Journal, May 8, 2008). Q
Succession planning Q&A, (Industrial Distribution, May 2008). Q
Cox Family Enterprise Center, (www.kennesaw.edu/fec).
Family Business Alliance, (www.fbagr.org).
Family Business Center, (www.mba/wfu/edu/fbc/overview.html).
Center for Family Business, (www.familybusiness.unh.edu/).
Books, eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Unconventional Wisdom: Counterintuitive Insights for Family Business Success (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Are we building a four-generation real estate sales organization?, (Real Trends, Dec. 2003, p. 8-9).
Legacy or loss?, (Real Estate Today, July 1992, p. 30-31).
Family ties, (Florida REALTOR®, Sept. 1990, p. 12-15).
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
E-mail 
