News & Updates Blog

Succession planning in family businesses is a critical process that ensures the stability and continuity of the business across generations. This process is characterized by developing, documenting, and communicating a comprehensive plan that aims for an orderly and successful transition. The journey towards this goal begins with the current generation of owners and operators who […]

How do you define creativity? We started our most recent Next Gen Leaders Peer Group session at the Conway Center for Family Business with that question. Creativity is a necessary skill, not only for success in the family business, but also for leading a fulfilling life. But what if we don’t consider ourselves to be […]

Benefits strategies for multiple generations are essential in today’s diverse workforce. With employees ranging from Baby Boomers to Gen Z, organizations must develop strategies that cater to the unique needs and preferences of each generation. While each generation may have different priorities and expectations when it comes to benefits, there are also common themes that […]

Developing a family business charter helps individuals with differing points of view learn to work together in the spirit of collaboration toward a greater good — the health of the family and the business. Designed specifically for families in business together, a family business charter documents the shared understanding between the owner/founder and family members […]

In our conversations with manufacturers, we often hear that workforce hiring and retention is their greatest stressor in this post-COVID era. Many manufacturing companies share the challenge of finding workers who are willing and able to perform the skills necessary to fill open positions. Scroll news feeds, read industry information, or listen to podcasts from […]

As a business owner, you’ve poured your heart and soul into building your company. But have you given thought to what happens when it’s time to step away? Exit planning is a crucial step that many entrepreneurs overlook, often until it’s too late. Let’s dive into why exit planning matters and how you can start preparing for your business’s future today.

the recent decision in Connelly v. United States should encourage owners of closely held businesses to take pause and evaluate the unexpected federal estate tax consequences which Key Person Insurance could have for the deceased owner’s next-of-kin.

Set your organization up for long-term success using 10 key economic indicators to track and inform your decisions.

There is some exciting news, especially for smaller plan sponsors of defined contribution plans. The Department of Labor (DOL) has revised the Form 5500 and instructions for 2023, bringing about a substantial change in the criteria used to determine the requirement for an audit. Updates to Participant Count Methodology  Employee benefit plans that filed as a large […]

Since the COVID-19 pandemic, there’s been an enormous uptick in the number of cyberattacks and the amount of damage they cause. This damage, which has disproportionately affected small and mid-sized businesses is now a top-of-mind concern for any organization that values its long-term stability and profitability. While there’s been a lot of advice out on the […]