BUFFALO, NEW YORK — Scott E. Friedman, Managing Partner of local law firm Lippes Mathias Wexler Friedman LLP, will be speaking at Wilmington Trust’s 2013 Family Office Summit on December 6th, 2013, in Wilmington, DE. Friedman will speak on topics from his new book Family Business: New Planning Strategies for the 21st Century. Friedman’s book provides guidance and strategies which extend beyond traditional legal, financial or business services. He encourages families to focus on creating a positive culture and develop new strategies of communication, decision making and governance based on the science of positive psychology.
In addition, Friedman is the Executive in Residence for the new University at Buffalo School of Management’s Center for Entrepreneurial Leadership Family Business Center, as well as the founder of a family business consulting firm called Next Gen Advisors, LLC. Next Gen focuses on helping families plan their futures and transition their businesses from generation to generation.
FACTS on Family Owned Businesses:
- 80% - 90% of all US businesses are considered family owned.
- 50% of the GDP is generated by family owned businesses.
- 60% of all publicly held companies are family controlled.
- 35% of the Fortune 500 companies are family businesses.
- Less than 1/3 of all family owned business make it to the second generation.
- Less than 1/6 make it to the third generation.