Family Businesses Can Survive Through Recessions Reviewed by Momizat on . Tips for Family Businesses to Survive and Thrive When Tough Times Hit Can You Revive Your Distressed Family Business?  The first step to figuring that out, Stev Tips for Family Businesses to Survive and Thrive When Tough Times Hit Can You Revive Your Distressed Family Business?  The first step to figuring that out, Stev Rating:
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Family Businesses Can Survive Through Recessions

Tips for Family Businesses to Survive and Thrive When Tough Times Hit

Can You Revive Your Distressed Family Business?  The first step to figuring that out, Steven F. Agran explains, is an objective assessment of cost structure.  What determines whether a business can be cash flow positive at current sales levels or even at lower levels, if sales continue to decline?  Find out here.

Family businesses have been the backbone of the American economy for years. Entrepreneurs entered industries with low barriers and grew prosperous enterprises through ambition and perseverance. But the start of the 21st century saw the sale of many family-owned businesses as second- and third-generation owners chose to monetize their investments. The family companies that remained found themselves competing against companies where sales growth and EBITDA, rather than family values and long-term profitability, were the overriding goals.

“The first step is to determine whether the business can be cash flow positive at the current sales level or at lower levels, if sales continue to decline.”

Many family business owners’ reaction to the recession and mismanagement of finances hurt their profits and viability. Growth opportunities and wealth quickly vanished. However, by making some important changes to their strategic business plans and improving communication with business partners, these companies can again become prosperous.

The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial forensic services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.

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