The Top 10 EY Family Business Findings of 2015

ALT TAGCarrie Hall, EY Americas Family Business Leader

With the beginning of a new year, it is the perfect time for a retrospective of the top ten EY Family Business findings of 2015 based on our analysis from the global family business survey.  Continue reading

Keeping it in the family

The importance of family businesses to the global economy is undeniable. According to the European Commission, they account for more than 60% of all companies in Europe and the Americas and about 50% of employment. But for many, succession planning can be a cause of anxiety, and there are many misconceptions around what is involved.

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Family businesses letting go

I’ve developed the concepts of “control from the grave” and the “ghost on the wall” in family businesses in my two earlier blogs.

In this final blog, I want to look at a case where this control takes the form of letting go. This is about new leaders being able to make decisions and take actions the previous generation may not have been able to.

To illustrate this, I’d like to use the example of the Johnson family. John Johnson and his wife Eunice founded Johnson Publishing in 1942 to bring to market Ebony and Jet, among the first magazines targeted at African-Americans.

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Four challenges for Middle Eastern family businesses

I recently attended two family business forums, in Riyadh and Al Khobar, Saudi Arabia. At these events, many of the big issues faced by family businesses were discussed, such as succession, governance and the separation of management and ownership.

But I was struck by a common theme throughout many of the round table discussions: namely, the challenges that face family businesses in the Middle East. These challenges are not unique to the region, but they are more prevalent than in other regions.

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Four myths about fraud and your family business

You may think that the trusting, tight-knit nature of family-owned businesses means they have a lower risk of fraud. But some experts believe the risk and occurrence of misappropriation are actually greater in family businesses due in part to that very environment of trust. Furthering the problem, the perpetrator may not realize his or her behavior is inappropriate.

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