Family Businesses Weather Economic Downturns
Several studies indicate that medium-to-large family businesses have success weathering economic downturns.
Their success is partially credited to multiple generations having the wisdom and experience to patiently ride out the ups and downs of many business cycles. The resulting levelheaded crisis management and long-term perspective support their ability to be patient, as does the foundational support of lower debt levels and lack of external shareholder pressure.
About the author : Darlene
Darlene Gagnon is an award-winning entrepreneur recognized by the National Association of Women Business Owners and is an Enterprising Women Inspirational Entrepreneur. She served on the board of directors for Entrepreneurs’ Organization and has mentored entrepreneurs and start-ups for over a decade. Her two companies, WeKinnect Global Branding Agency and Kinetic Promotional Product Services, have been recognized as “Best Places to Work” and “Largest Agency” by American City Business Journal. Both companies serve the US, Canadian, European, and Australian markets. Both companies are located in The Woodlands, Texas, with teams in Canada, the Philippians, and India. Her digital marketing and advertising agency services in English-speaking countries around the world.
