Family Business Survey
The Family Business Survey is a project conducted jointly by the Department of Business and the Family Business Center in 2012-13. The study involves a survey of family businesses in Lancaster County (and neighboring counties), and seeks to address three objectives:
Assess family business confidence in the future, both broadly (are they optimistic about the future of the U.S. economy?), and more specifically (Do they expect a net income increase? Do they plan to hire? Do they plan on taking more debt? Increase their capital or technology investments? Increase their presence abroad?)
Learn about adoption of best practices that would position them better for the future. This includes transition practices, such as a formal ownership transition plan, a written strategic plan, a formal management succession plan, and HR practices, such as written job descriptions, defined career paths, formal performance reviews and standard bonus structures.
- Understand how family businesses view the current economic and regulatory environment: What internal and external challenges do they face? What opportunities for regulatory change do they see?