CBIA aims to help family businesses

The Connecticut Business & Industry Association has launched a new program to support the state's family-owned firms.

The Family Business Program, sponsored by First Niagara Bank, J.H. Cohn LLP and Reid and Riege PC, offers business leaders a forum for discussing and solving problems such as succession planning, legislative issues and ethics.

CBIA says statistics show that family-run business generate 60 percent of the nation's jobs, but only 30 percent survive into a second generation.

"The program will provide Connecticut-based family businesses with the opportunity to brainstorm, network and discuss both business and family issues with others who have 'walked the walk' of working in a family business," said Mary Fitzgerald, president of Mystic-based Acme Wire Products Co. Inc., in a statement.

Three to four meetings a year will be scheduled at which topics such as performance evaluations, tax issues, financial management, governance and banking strategies will be discussed. Issues will be covered at locations in New London County as well as throughout the state.

Bimonthly email newsletters and webinars will also be included.

- Lee Howard