These are both challenging and exciting times for the new generation of family business leaders. As family businesses continue to thrive in an extremely volatile operating environment, a new generation of leaders has the opportunity to help their businesses operate, innovate and reshape the future in the wake of the COVID-19 pandemic.
While opportunities exist, it is difficult for the new generation to find a niche within the family business where they can leverage their skills, add value to the business and act as change agents. They may face resistance from other family members and other obstacles preventing them from gaining the personal or professional experience they need to advance within the business.