How Family Businesses Can Adapt for the Next Generation
Dr. Pendergast discusses how today's investing families are considering a range of different approaches to managing and enhancing their wealth, including ones that allow family members to actively pursue new opportunities to become an enterprising family.
From the article:
"Enterprising families are open to the idea of expanding beyond the legacy business," Pendergast says. "Instead of keeping cash in the bank, you create the next entrepreneurial engine and retain the capital within the family. Businesses might come and go, but you can sustain that wealth across generations." These families move beyond defining themselves as owning a family business to being a family in business together.
Please click here to read the article on the Kellogg Insight website.