Family-owned businesses take the spotlight
In a recent poll by Mainebiz, we asked readers if it was important to them to patronize family–owned businesses.
The answer was a resounding yes, with 76% of voters saying, “Yes, I believe in supporting local businesses whenever I can.”
In this issue, we take a closer look at how family businesses operate, from the way roles are divided to how businesses are passed down from generation to generation. At most successful family businesses, the successive generations have to prove themselves in some way — the classic examples are sweeping the floor or working in the warehouse. In addition to sweat equity, actual equity is another way to take over a family business — because, after all, the parents would like to actually enjoy retirement. Every family has its own formula for succession.
In our cover story, Senior Writer Renee Cordes talks to Cross Insurance’s Royce Cross, who recently handed over the CEO mantle to son Jonathan, as well as some other business owners that have made the leadership transition. See “Stepping up,” which starts on Page 16.
Elsewhere in the issue, Senior Writer Laurie Schreiber asks couples who are in business together how they divide the responsibilities — and how they resolve work conflicts. See “Division of labor,” which starts on Page 24.
Some new faces at Mainebiz
I’m happy to report we have two new additions to the Mainebiz editorial team.
Ann Fisher, a longtime Mainer and news veteran, has taken over the Digital Editor role, overseeing the Daily Report, Weekly Report, homepage and social media efforts. She can be reached at afisher@mainebiz.biz
Alexis Wells joins Mainebiz as a reporter covering health care, tourism agencies and personnel moves at professional services firms. She can be reached at awells@mainebiz.biz
The rest of the editorial staff, as mentioned above, includes:
Renee Cordes, who covers financial services, law firms, restaurants and retail and a range of general-assignment duties. She also handles podcasts and “On the Record” Q&As. She can be reached at rcordes@mainebiz.biz
Laurie Schreiber, the longest-tenured staff writer at Mainebiz, continues to cover commercial real estate, producing the Tuesday Real Estate Insider (real estate deals), commercial fisheries, boatbuilding and news from Downeast. She can be reached at lschreiber@mainebiz.biz
As the editor, I oversee the news operations at Mainebiz and also produce the Building Business column and the Thursday Real Estate Insider, which focuses on development news. I can be reached at pvanallen@mainebiz.biz
General news releases can continue to be sent to editorial@mainebiz.biz
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