Take steps to protect your family business

There’s nothing more important in the world to you than your family. However, your family-owned business probably helps support your family. So, when it comes to protecting both your family and your business, you need to carefully consider your moves.

As you know, you face plenty of challenges to keep your business running smoothly — but it can be even more difficult to pass the family business on to your children or other relatives. In fact, according to the Small Business Administration, only 33% of family owned businesses survive the transition from first generation ownership to th...