|By PR Newswire||
|March 11, 2014 08:47 AM EDT||
SEATTLE, March 11, 2014 /PRNewswire/ -- The Pacific Family Business Institute (PFBI) announced today the results of a survey of nearly 200 of the Pacific Northwest's leading family businesses across diverse market sectors including professional services, manufacturing, and retail. The survey report sheds light on the current issues and challenges facing these businesses, and the strategies and initiatives they are implementing to drive growth.
"Family enterprise plays an integral role in the Pacific Northwest economy. As these businesses continue to grow and thrive, it is critical that our city and state policies create a friendly environment to keep these businesses local," said Rich Simmonds, co-director of PFBI. "However, our 2014 survey results reflect just the opposite – an increasing number of family businesses are dissatisfied with current tax policies and minimum wage regulation. As many as 72 percent would consider out-of-state locations, if they were opening a new facility."
In the 2014 Northwest Family Business Survey, most family businesses (55 percent) indicated that their city and state have business and tax policies that are not business-friendly. When asked what could be done to become more business-friendly, many participants recommended lowering taxes, providing tax credits or incentives, addressing issues with zoning and permits and maintaining the minimum wage. Also ranking high among challenges, are retaining qualified employees, changes in healthcare and insurance policies, and the economy.
Critical insights from the 2014 Northwest Family Business Survey include:
- Increased interest in succession planning. The survey revealed tremendous progress as family businesses are expanding their planning around retirement and business succession through written plans. More than half of participants, 59 percent, have a written plan to address succession and ownership, which represents an increase of 26 percent since the 2012 survey.
- Businesses lack incentive plans for senior management. Seventy-three percent of the family businesses have no incentive plans for non-family senior management. Of the 27 percent that have incentive plans in place, only 31 percent of those plans include equity-like compensation.
- Businesses continue to be run by a family member with a controlling interest, with additional support from a board of directors. Among the family businesses, 45 percent have a first-generation CEO and 38 percent have a second-generation CEO. Sixty-one percent have either a board of directors or an advisory board in place.
- Family businesses are more optimistic about their growth now than in 2012. Despite concerns about the economy, leaders are optimistic about the future, with most anticipating an increase in the number of FTEs and revenue. For most (61 percent), revenue increased over the past three years. Looking ahead three years, the majority of family businesses (71 percent) anticipate greater revenue.
"Business continuity planning is one of the great signals of business growth, viability and owner success. The process of choosing a successor, developing leadership and managing a transition is critical for future success," said Dr. Ron Dohr, co-director of PFBI. "However, it is important for family businesses to also remember that non-family senior executives play a critical role in the company's success. Planning should include not only a succession plan, but also an incentive plan for senior management to help the business achieve strategic goals and guide the organization's culture."
"The survey tells us that family businesses are resilient and continuing to thrive in the Pacific Northwest. Their challenges and successes are an inspiration for continued research in this area," said Dr. Mark T. Green, co-director of PFBI. "We hope these insights from family business leaders will spark conversations and bring greater understanding of the unique demands and opportunities that family business leaders face every day."
The full report on the survey findings can be downloaded from the PFBI website at pacificfamilybusiness.com. The 2014 Northwest Family Business Survey is a comprehensive survey of family businesses in the Pacific Northwest, capturing the views of 195 family business leaders. Interviews were conducted with businesses located in Washington and Oregon in more than 10 different industry sectors, including professional services, manufacturing, construction, retail, hospitality and agriculture. Questions covered the businesses' history and future, management and governance structures, and the influence of multiple generations on family-owned businesses. More than 69 percent of the businesses reported more than $5 million in annual revenue. The research was coordinated by Riley Research Associates, a full-service market research firm, which designed the questionnaire in conjunction with PFBI's family business experts. Financial support was provided by Cascadia Capital, Perkins Coie Law Firm and the Threshold Group.
About the Pacific Family Business Institute
The Pacific Family Business Institute (PFBI) provides high-quality programs, resources and research designed to address the unique opportunities and challenges facing Pacific Northwest family businesses. PFBI works directly with family members, family business executives and professionals who advise family-owned companies. In addition, PFBI partners with universities, corporate sponsors and other Pacific Northwest organizations dedicated to the success of family business. For more information, visit www.pacificfamilybusiness.com.
Read more news from Pacific Family Business Institute.
SOURCE Pacific Family Business Institute
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
Jul. 2, 2015 12:45 PM EDT Reads: 1,149
Manufacturing has widely adopted standardized and automated processes to create designs, build them, and maintain them through their life cycle. However, many modern manufacturing systems go beyond mechanized workflows to introduce empowered workers, flexible collaboration, and rapid iteration. Such behaviors also characterize open source software development and are at the heart of DevOps culture, processes, and tooling.
Jul. 2, 2015 12:15 PM EDT Reads: 559
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Jul. 2, 2015 12:00 PM EDT Reads: 1,988
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
Jul. 2, 2015 11:50 AM EDT Reads: 251
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 2, 2015 11:17 AM EDT Reads: 301
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 2, 2015 11:15 AM EDT Reads: 1,007
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
Jul. 2, 2015 11:00 AM EDT Reads: 2,089
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 2, 2015 11:00 AM EDT Reads: 2,175
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes. In his session at DevOps Summit, Michael Demmer, VP of Engineering at Jut, will discuss how this can...
Jul. 2, 2015 10:46 AM EDT Reads: 299
"A lot of the enterprises that have been using our systems for many years are reaching out to the cloud - the public cloud, the private cloud and hybrid," stated Reuven Harrison, CTO and Co-Founder of Tufin, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 2, 2015 10:45 AM EDT Reads: 707
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achi...
Jul. 2, 2015 10:00 AM EDT Reads: 779
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 2, 2015 10:00 AM EDT Reads: 1,101
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgenthal...
Jul. 2, 2015 10:00 AM EDT Reads: 758
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 2, 2015 09:45 AM EDT Reads: 2,240
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 2, 2015 09:30 AM EDT Reads: 801