Welcome to the Network of Family Businesses & SKM Associates Family Business Advisors.
An Innovative Global Firm For Family Businesses overflowing with resources. Focused exclusively on the unique needs and concerns of Family Businesses, Solopreneurs, and Small Business Owners by providing educational material, networking opportunities, business family consulting, and leadership development for families in business.
Employee Stock Ownership Plans (ESOPs)
are unique among retirement plans. An ESOP merges the tax benefits of a qualified
retirement plan with corporate nuance, and aligns employees’ retirement benefits
with corporate goals. This combination of tax-favored employee and corporate
benefits is complex. With planning and an expert team of advisors, it can be a
win-win scenario for both employees and employers.
Is an ESOP Right for You?
An ESOP can be appealing if you want to reward
employees who have helped you build your business, and it can also be used to
supplement your firm's 401(k) or other
Why Should A Family Business Consider An ESOP
are a tax-favored liquidity strategy that delivers fair value for shareholders.
allow for a “low and slow” ownership transition
benefit the people who have helped create value in the Company.
create tax-favored independent and sustainable companies.
create and preserve legacy
James G. Steiker:
James G. Steiker is Chairman and CEO of SES Advisors, Inc. and Founding
and Chairman of its sister law firm, Steiker, Greenapple
& Croscut P.C.
is a corporate, pension and tax attorney and financial advisor with more than
30 years of experience in Employee Stock Ownership Plans (ESOPs) and other
employee ownership matters, focusing primarily on ESOP design, transactions and
compliance in entrepreneurial companies.
is the past Chair of the ESOP Association’s Advisory Committee on Finance and
currently serves on the ESOP Association Board of Governors. He is also a past
trustee of the Employee Ownership Foundation and a past member of the Board of
Directors of the National Center for Employee Ownership. He is a frequent
speaker and author on ESOP matters and serves as a director of nine ESOP
is a graduate of New York University School of Law, where he was a
Root-Tilden-Snow Scholar, and of Wesleyan University.
“I think we should sell it now that it is going
well, have you seen Picker, yes, I am talking about the family who used to be
one of our main competitors, they no longer are our competitors, and you know
why, don’t you? They got more than US $100 million, and now they are retired
enjoying their time, something we haven’t done for years!We need to sell now. Always working and
now having to deal with all this succession stuff.Who tells you that our children aren’t
going to sell it in the near future anyway?” Marcos Bo was saying to his
brother Pablo who listened to him in that understanding way he had, just as he
had always done in the past.
It took Pablo a long time but he finally
convinced his two brothers that they urgently needed to face their succession
problem. Their retirement was no longer some day in the far away future (Jose
and Marcos were in their 60´s and Pablo was in his late 50’s).
The critical questions in this case center on
the succession process:
it the right timing for the three Bo brothers to start planning their
their previous attitude –secrecy- towards their families adequate?
they correct in not wanting to involve the family at all in the business?
consequences did this attitude have on their children and on the management
had they dealt with the siblings joining the business?
Carsrud: Alan is Researcher Professor
at Åbo Akademi University in Turku, Finland and
Managing Director of Carsrud
and Associates.He holds a B.A. (honors) with majors in Psychology
and Sociology and minors in History and Anthropology from Texas Christian
University. His graduate degrees are a M.A. and a Ph.D. in Social Psychology
from the University of New Hampshire. He completed post-doctoral work at The University
of Texas at Austin in Applied Industrial Psychology.
He has served on the
boards of the Science Parks of Finland, the International Council for Small
Business, the United States Association for Small Business &
Entrepreneurship, the Family Enterprise Research Conference, and the Family
Firm Institute where he is also a Fellow. He was on the start up team at People
Express Airlines and Founding Director of CytoSignal, a biotech firm in
California. He has helped to launch or grow over 200 technology firms
Alan has co-authored
four books and two case book publications on Family Firms in Transition: Case
Studies on Succession, Inheritance, and Governance and Understanding Family
Firms, Cases on the Management of Crises, Uncertainty and Change.