Due to challenging economic conditions, many companies have struggled over the past year as orders have slipped, cash flow has become increasingly important, and credit restrictions have tightened.
Family owned and operated businesses are dealing with the same struggles and challenges as their competition whether they be privately or publicly held. However, family businesses might be uniquely positioned to overcome challenges because they have a long-term view of the business, multiple generations of experience to draw upon, and multiple employees with a vested interest in the continued success of the business.
This package of stories features four family owned and operated companies that are surviving the current recession. Some are even thriving. And all of them have important lessons to teach about working together as a family, developing leaders and continuing a family legacy.
- Fallucca family builds Palermo’s into national brand
- Wenzler family leads firm through good times and bad
- NASSCO president grooming next generation
- Brothers lead Reliable Plating
