Faced with unprecedented challenges and a shifting business landscape, business owners have adopted a range of new strategies to weather the storm over the past year and continue to move their businesses forward.
In The Northern Trust Institute’s inaugural Business Owner Benchmark, we surveyed a wide range of business owners to understand the challenges and opportunities they are facing — and how they are adapting to this new environment as we emerge from a tumultuous year.
BUSINESS OWNERS’ TOP CONCERNS
Ability of successors to maintain and grow the business over the long term
Capacity to manage and sustain the business throughout the COVID-19 pandemic
The business declines due to certain industry factors or trends
The business becomes or remains a source of family conflict
The business declines due to competition
Other