About Us
The New York Family Business Center gives family owned business owners and managers opportunities to interact and learn from each other and from family business professionals. Members will develop the strategies and policies to achieve their goals and objectives.
The Center provides tools, resources, consulting, training, interaction, and education specific to family owned businesses in upstate New York in a nurturing and confidential environment.
The Center's activities are member driven enabling participants to gain intimate insight into key elements that create a successful multi-generational family business.
The Center partners with community leaders, organizations, colleges and universities to provide access, research and academic courses that are needed by family business owners. Local and nationally recognized professionals are brought into address specific topics pertaining to the success of a family owned business.
Family Business Basics
What IS a Family Business?
- Meaningful amount of ownership of the business held by one family
- Family members signifcantly affect direction & strategy of the business
- Overlap in Family - Ownership - Management
- Desire for continuity across generations (intent to keep it in the family)
Family Business Facts
- Family owned businesses account for 60% of total US employment, 78% of all new jobs, more than 50% of GDP and 65% of all wages paid. (Financial Planning, Nov. 1999)
- More than 30% of all family owned businesses survive into the second generation. 12% will still be viable into the third generation, with 3% of all family businesses operating at fourth generation level and beyond. (John Ward, Co-Founder of Family Business Consulting Group)
- The greatest part of America's wealth lies with family-owned businesses. Family firms comprise 80 to 90% of all business enterprises in North America. (J.H. Astrachan and M.C. Shanker, Family Business Review, Summer 1996)
