The Family Name: A Powerful Family Business Asset

Truly unique assets to each business are its reputation and image. This is very much the case among family firms. The family business’s name can be instrumental in winning the trust and allegiance of stakeholders. It can also be crucially important in maintaining the solidarity of the family and the company. In a survey of 336 C-level family members of family businesses, about seven out of ten of them reported that their family name – their brand – was very important to the current and future success of the company. About a fifth said it was important. Fewer than ten percent said it was not important.