Surviving Turbulent Times Focus of UNH Family Business Event April 16
By Lori Wright, Media Relations
April 8, 2009
Surviving turbulent times and letting go of a business will be the focus of the next UNH Center for Family Business event Thursday, April 16, 2009.
“Surviving Turbulent Times” and “The Impact of Letting Go” will be held at The Yard Restaurant in Manchester. The event begins at 8 a.m. with a continental breakfast. “Surviving Turbulent Times” begins at 8:30 a.m. Lunch will follow. “The Impact of Letting Go” starts at 1 p.m.
The UNH Center for Family Business has assembled a panel of experts and family business owners to provide insight and answers about how the changes in this declining economy can impact a family business. The goal of the morning session is to help business owners better define a new strategy for survival and success now and in the future.
Some of the topics to be discussed include:
- Retaining customers and seeking out new ones
- Increasing efficiency and reducing costs
- Benefits to business owners in stimulus package
- Financial reporting
- Importance of communicating with bank and other creditors
- How to retain financing if you have it, and how to obtain it if you don’t
- Reducing workforce hours and benefits
- Maintaining skilled work force
- Tax issues that arise when businesses are in trouble
- How and when to proceed with financial restructuring
- Utilizing economic downturn to effectively transfer assets
- How to deal with the emotional issues in troubled times
Following lunch, attendees will discuss “The Impact of Letting Go.” This session will explore the impact not only on persons leaving but how it affects the next generation and the employees. Learn what other prominent senior generation owners are doing and what tools they are using to deal with their succession issues.
To register or become a member of the Center for Family Business, call Barbara Draper at 603-862-1107, or firstname.lastname@example.org. The event is free for Center for Family Business members. The cost is $99 per person and $250 per family for nonmembers.
The Center for Family Business, under the UNH Whittemore School of Business and Economics and the UNH Graduate School, is sponsored by Mass Mutual Financial Group, Thomas Davidow Associates, Baker Newman & Noyes, Pierce Atwood, MPI Management Planning, Inc., and Ocean Bank. It is a membership program to provide owners and managers of entrepreneurial businesses with an opportunity to exchange ideas and information and to discuss business challenges, concerns, and solutions. For more information, visit http://www.familybusiness.unh.edu/.