Adressing Challenges in Family Enterprise Management

In the economic landscape of Central America, family-owned enterprises encompass around 90% of the region's businesses and contribute, according to some estimates, to 70% of total employment. Highlighting the challenges and growth opportunities for these businesses is crucial.

Our EmpreSomos Entrepreneurial Connectivity initiative recently hosted a meaningful conversation on this subject, which is now accessible on our YouTube channel.

The discussion was expertly guided by Fernando Sandoval Arzaga and Oscar Howell Fernández, DBA , renowned figures in the realm of family business, with Erick Guillén Miranda , a seasoned consultant and academic, steering the conversation as moderator.

Key takeaways from the dialogue include the intricate balance required to merge family dynamics with business practices and the importance of sustaining intergenerational harmony. Emphasizing the need for trust, collaboration, and clear communication was identified as fundamental for the longevity of a business. Additionally, the conversation highlighted the critical role of professionalization and strategic planning for the growth of small and micro enterprises.

The session wrapped up with insights on the "3Es for family business success": Equilibrium, Empowerment, and Enthusiasm. These principles suggest striving for a balance between the needs of the business and the family, empowering family members to make knowledgeable decisions, and motivating them to align their personal goals with the business objectives.

The next few paragraphs provide basic information about the family-business consultancies led by our guest experts. ??

Fernando Sandoval and Oscar Howell are leaders at Qelbe , a pioneering e-learning platform aimed at bolstering small and micro businesses. Their entity addresses various challenges of family enterprises, such as succession planning, founder retirement, strategic planning, communication, and innovation. More details about Qelbe's offerings can be found at their website: https://www.qelbe.com/b2c.

Erick Guillen is the founder of Continuidad de la Familia Empresaria S.A., a consultancy focused on ensuring the smooth transition of the founder's vision to the next generations. It takes a comprehensive approach, blending psychological, strategic, and legal expertise to mitigate conflicts, develop talent, and establish effective governance structures. Additional information is available at https://www.continuidad.cr/.

Family businesses are a testament to a family's heritage, values, and aspirations. The expertise and strategies shared by our speakers offer both inspiration and actionable advice for steering your family business toward a prosperous and lasting future.

If you are interested in the complete insights from the webinar, we invite you to watch the entire presentation at this link with captions that may be configured in different languages: https://www.youtube.com/watch?v=7ZCvekycPjM