Family to Family: Laird Norton Tyee Family Business Survey 2008

Family businesses are in good company. They are economic drivers and community leaders. They represent a cross-section of all industries and play a tremendous role in commerce large and small. Some represent history, others the future. Together, they are proof that no opportunity is outside the grasp of those with the vision, dedication and hard work that only a family can produce.

We are pleased to present the 2008 Laird Norton Tyee Northwest Family Business Survey. The project looks at family-owned and family-operated businesses across Washington, Oregon and Idaho, providing a regional perspective on the promises and challenges that leaders of these firms face every day.

This is not our first foray into family businesses, nor will it be our last. At Laird Norton Tyee, we are fascinated by family businesses. We were founded more than 40 years ago to serve members of the Laird and Norton families, owners of the Laird Norton Company, a family business now in its seventh generation. We understand family business because our history is family business. To this day, the majority of our clients remain tied to family businesses of their own. We admire the tenacity and ingenuity of these business leaders and families and the commitment they have made to create their own futures.

In 2005, family business leaders across the Pacific Northwest heard the results of the first survey of area family businesses. What was most surprising about the survey was not the results but the reaction of the entrepreneurs and families who had committed their lives to building these businesses. They recognized that they were not alone in the challenges they faced, and that the sharing of critical insights with their peers would help them all to grow.

From this grew Laird Norton Tyee’s commitment to family businesses that continues to this day. We have conducted one of the largest national family business surveys of its kind, Laird Norton Tyee Family Business Survey: Family to Family 2007, and are currently planning a second national survey for 2009. Our Family Business Thought Forums bring the top minds in family business best practices to our clients in a setting designed to inspire knowledge sharing. And the relationships we’ve established with the academic community have helped us provide insights into succession and strategic planning, wealth generation and income diversification, and multigenerational family harmony.

We are tremendously honored to learn from the businesses that we consider the lifeblood of the American economy. With the values they instill through the generations and the leadership and philanthropy they provide to their communities, their impact cannot be measured in dollars alone. We are committed to helping family businesses continue to thrive by expanding our research and intellectual capital, developing innovative and collaborative programming, and engaging in earnest and authentic dialogue with everyone who serves or is served by a family business.

We hope this survey can spark a new discussion among family businesses, one that helps them focus on the visions and values they hold dear, and one that can help them continue for generations to come.

Sincerely,
Laird Norton Tyee