Higher Education in Family Business: Reasons to Work with a Certified Family Business AdvisorJuly 14, 2015
You already know your family business is unique. It faces the challenges of a small business, of your specific industry, and of your family all in one. Not only do work issues come home with you, family issues are brought to work every day as well. The extra layer of family involvement can make every …
The Art of Letting Go: Why First Generation Family Business Owners Avoid Leadership TransitionMay 22, 2015
It takes a special kind of person to start their own business – even more when the future of the entire family may depend upon it. The personal financial investment alone can be daunting. In addition, there may be no profit at all for the first couple years. Unbelievable sacrifice is required along with a …
IRS Disaster Resource Guide for Individuals and BusinessesSeptember 8, 2014
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The Curchin Group’s Roy Kvalo Appointed President of the Estate and Financial Planning Council of Central New JerseySeptember 3, 2014
RED BANK, N.J. – (July 22, 2014) – The Curchin Group, LLC, a mid-sized, full-service accounting firm based in Red Bank, N.J. announced that Roy H. Kvalo, CPA/ABV/CFF, CGMA, CVA, Director of Litigation & Valuation Services, has been installed as president of the Estate and Financial Planning Council of Central New Jersey. Kvalo, a member …
Special Financial Considerations for Husband & Wife Family BusinessesSeptember 11, 2013
The Wall Street Journal reported that one-third of all family businesses are operated by husband and wife teams, representing a substantial number of all businesses. The dynamic of the team, however, can vary greatly. In some cases, one spouse will start the business, or may already be involved in an existing family business prior to …
Infographic: Top Family Business Statistics You Need to KnowAugust 16, 2013
Information graphics, aka “infographics,” are used to visually present statistical information in a compelling and easy-to-understand manner. For family businesses, infographics are useful primarily for the overall impact they may have – especially if they encourage the pursuit of further knowledge or action. There are family business-specific sources that bring these statistics to life, and …
Why All Family Businesses Should Start Succession Planning TodayAugust 9, 2013
Succession planning is likely the most common topic presented by family business advisors and other experts, but for good reason. It is something every family business should do, yet less than 70% of them make it to the second generation, in part due to lack of a plan. Succession planning may seem overwhelming and too …
Preventing Fraud in the Family BusinessAugust 6, 2013
We’ve all read about business fraud, perhaps even in our local region. A trusted employee is discovered to have diverted company funds to themselves for years – the results being a loss of tens or hundreds of thousands of dollars, the former employee facing at least public humiliation for the crime, if not jail time, …
Five Common Causes of Family Business Feuding and How to Avoid ThemJune 28, 2013
Family Feud the game is fun to watch. Family feud in the family business is like watching a train wreck. It’s hard to put a good spin on the word “feud.” It implies more than just a disagreement, but rather a longstanding and deeply-rooted standoff. It would be unrealistic to expect all family members to …
Financial Considerations for Family Businesses with Aging OwnershipJune 6, 2013
An issue that family businesses inevitably face is having an owner who is heading to retirement (or planning on working until “the end.”) At this time, the “what ifs” begin to surface. What if the owner passes unexpectedly? What if there is no successor already chosen? What if no one else in the family knows …