All in the Family

Sometimes living with family can be tough, never mind working with them. However, for the past 15 years, the Center for Family Business at the University of NH in Durham has been there to help family businesses meet their unique challenges.
The center marks its 15th anniversary in November, making it one of the oldest family centers in the country, says Center Director Barbara Draper. Among the center's goals is to help entrepreneurial companies succeed and to assist with the transfer of ownership and leadership of family businesses from one generation to the next.

That mission is vital in a state where 85 to 90 percent of businesses are family owned. In the next 10 years, more than 40 percent of these companies will transfer to the next generation, Draper says. In the past, only 30 percent of companies successfully transferred from the first to second generation and of those only 10 percent made it to the next generation. Today the percent of successful transfer is significantly higher due to more emphasis and education on the transition process.

The center is kicking off its fall offerings on Oct. 16 by partnering with the CEO Forum to bring a major national speaker to NH businesses-Marilyn Carlson Nelson, chairman and former CEO of Carlson Companies. Carlson Nelson will discuss her new book, How We Lead Matters: Reflections on a Life of Leadership. Carlson Companies, based in Minneapolis, is one of the largest privately-owned companies in the world, Draper says, and its major operation groups include Carlson Hospitality Worldwide, Carlson Wagonlit Travel, Carlson Leisure Group and Carlson Marketing Group. Carlson Nelson oversees management of the company. The event will be held at 8 a.m. at Huddleston Hall at UNH.

Other upcoming programs include a session on The Strategic Planning Process for the Family Business on Nov. 19, Governance in the Family Business-Boards of Directors and Advisory Boards on March 11, 2009, Impact of Letting Go (focused on the effects of transferring ownership) on April 15, 2009, and Decision Making in the Family Business on May 20, 2009.

The center also offers a Leadership Development Program to help the next generation of a family business improve their leadership skills and develop a strategic plan for the next 10 to 15 years. We provide a safe haven [to learn] and a way for people to talk with other family businesses, Draper says.

For more information, visit www.familybusiness.unh.edu.