Did you know that a huge number of family-owned businesses do not survive into the second generation (65 percent), and, on top of that, around 20 per cent fail once it reaches the third generation?The reasons for this are many and varied. Some heirs are simply not the business leaders their parents were. Others don't have the same appetite for the sector. Others might have different risk tolerance. In still other cases, family rivalries and legal issues can tear a business apart from within...

With unemployment rates at record lows, many large companies are recommitting chunks of their budgets to employee training.Why? This is to increase retention rates and enable their companies to keep their best and brightest team members.Yet, small businesses and startups may find themselves reluctant to provide employee training. Let's look at five reasons why not providing employee training costs your startup money. #1: A more competitive workforceIf you want to be competitive in your chos...

"It is through science that we prove, but through intuition that we discover."  Henri Poincare As an entrepreneur, who do you trust? If the answer is not that you trust yourself first and foremost, then you could be missing a key ingredient of successful entrepreneurship, that of your intuition. Yes, it's important to trust others too, but if you can't trust yourself, how can you trust anyone else? Sadly, our society has not valued intuition enough, instead favouring logic and reasonin...

No matter if you regularly train for marathons or hit the gym a few times a month, you know that working out takes discipline, effort, and the drive to better yourself. Regularly working out and sticking to a fitness plan certainly isn't easy, which makes it that much better when you reach the goals you've laid out for yourself. Just like sticking to a fitness plan, getting your finances in shape requires discipline, drive, and commitment. Funnily enough, getting physically fit has been shown to...

If you think your new business is too small for a human resources (HR) department, think again.Many new startups think they're too small for HR to matter, but this couldn't be further from the truth. You might think you can handle issues as they arise, but this leaves you open to conflict and even legal trouble.As a new startup, it's best practice to set get HR onboard in the beginning. In this article, we look at why your startup isn't too small to develop HR policies and processes from the sta...