Resource Search

The future is human. With all the talk about how the newest generation of technology is going to change our world, this research clarifies that it’s the human factors that are most important. Across nearly every dimension of this survey, business leaders identify “people side of business” factors as central and essential to their competitiveness now and well into the future.

For entrepreneurs who love running their businesses and intend to do so for a long time, succession planning can feel like a distant or irrelevant concern. However, every business owner will eventually decide that it’s time to make their exit—and it’s never too early to consider the optimal way to do so. Having a thoughtful plan in place can help protect the value of the business, ensure business continuity, and help carry on the owner’s original vision.

In a time when disruption is the norm, business resilience has become a strategic imperative. Here are critical steps business owners and leaders can take to help identify vulnerabilities, bolster preparedness, and drive smart, sustainable growth.

Enhancing risk management is no longer optional but essential when the global landscape is fraught with uncertainties and disruptions that include changing business dynamics, shifting trade tensions, a tough tariff environment, geopolitical conflicts, and a volatile economic landscape. Building resilience across all aspects of the business is imperative now and for the long-term.

While business continuity planning and good crisis management are important, organizational resilience encompasses much more. An integrated approach to resilience provides organizations a competitive advantage over less-prepared peers, as well as the ability to adapt to constantly changing external circumstances. Organizations would be well-served to adopt a structured, disciplined resilience approach that accounts for situations in which multiple risk events interact.

Since the disruption of COVID-19, organizations have had to navigate soaring inflation, a rapid increase in interest rates, and escalating global tensions that have destabilized supply chains. All around, there has been enormous pressure on organizations to adapt and move from one crisis to the next. It’s no longer an option to simply take shelter and wait for the storm to pass and rely on traditional approaches to risk management. Against this backdrop, companies have started to adapt an ‘antifragile’ approach to risk, one that seeks to find opportunities in crisis.

By exploring the essence of legacy and its impact on business performance, this report brings together the detailed analysis, academic insights, and the firsthand experiences of family business CEOS to contribute to a deeper understanding of the importance of balancing tradition and innovation for long-term success in family businesses. From this report, you can learn more about the steps you and your family can take to uncover the strengths of your legacy.

The concept of transferring ownership of a private business to a purpose trust was first popularized when the Patagonia transaction was announced—instead of “going public,” they were “going purpose” to allow the owner to monetize his stake in the business while at the same time ensure that the values of the business are preserved for future generations. This guidebook by Northern Trust offers insights for business owners who may be interested in exploring a purpose trust transaction structure for their own business.

Digital transformation is widely misunderstood as being primarily focused on digitizing existing processes, moving to the cloud, or enabling scalability of the business. While this was true historically, today digital transformation requires taking bold steps and deploying advanced technologies such as AI, machine learning, augmented reality, blockchain, and others to create innovative new products that can make new revenue streams possible.

Effective tax and wealth planning can be a challenge, especially when there is a possible recession, elevated inflation, rising interest rates, and geopolitical strife. With this guide, you have the planning information and resources to help you make the right moves to plan for your family’s future and manage your wealth. In addition to insights on a myriad of tax issues and policies, this guide also covers topics related to setting up and maintaining a family office, charitable giving, crossing U.S.