NJJBA to host Family Owned Business Forum on March 9

The New Jersey Jewish Business Alliance will host a Family Owned Business Forum — a panel discussion centered around unique issues family-owned businesses face — March 9 at Saint Peter’s University in Jersey City.

The forum, an in-person event, will run from noon-2 p.m. (For more information and to register, click here.)

Event organizers said the forum is designed to educate business owners about the nuanced aspects of owning and operating a family-owned business in a rapidly modernizing world. The goal is to help family businesses be able to prepare for the existential threats headed their way — whether that means debt financing, seeking an equity investment, identifying a merger or selling outright.

The NJJBA has assembled a group of expert estate planners, tax professionals, corporate attorneys and bankers to discuss the key issues:

Among the topics of discussion:

  • Setting a business up for success by developing a sound corporate structure;
  • Putting together a board that supports the business;
  • Insights into the best ways to transfer ownership of a business between generations;
  • How to plan their estates from a business perspective;
  • How to weigh their options when considering an exit strategy.

Ted Zangari, chair, Multidisciplinary Outside General Counsel Team, at Sills Cummis & Gross — and the outside counsel for the NJJBA, said the event will be an opportunity for people who are trying to get ahead of the curve.

“Family-owned businesses are experiencing a generational shift of monumental proportions,” he said. “Tax code uncertainty looms in Washington, capital-intensive upgrades are becoming required to compete effectively, fast-moving employment laws are overwhelming management and children are stepping away from businesses.”

Zangari said the forum will provides actionable information that has the potential to impact businesses and the families who operate them for the better.