All In The Family Business: The Pros And Cons Of A Familial Company
When Is The Right Time For External Input?
Family-owned businesses often conjure images of quaint mom-and-pop shops frequented by local customers. Every business starts somewhere, and often retail and service startups are started by family members and counts people familiar with the family among its first patrons.
Some family businesses grown into some of America’s most successful public companies. Walmart, one of America’s largest corporations, was founded by brothers Sam and James "Bud" Walton in Arkansas in 1962. The Dell family still owns about 75% of Dell Technologies, and the Knight Family controls a majority of Nike.
Starting and running a family-owned business presents a unique set of benefits and challenges.
Davonne Helmer
Managing Director
Consumer Practice
Human Resources Practice
