WEBINAR + SLIDES | Use it or Lose it? End of Year Financial Planning + Proposition 19

End of Year Financial & Estate Planning + Proposition 19

FLASH UPDATE


Find out what strategies you need to consider for transferring wealth before the transfer tax exemption is reduced. Plus…learn how the passing of Prop 19 might affect your financial plans.
Join FBC Board Member Gina Lera, Attorney at Lera Tiberini PC as she presents important information on the best wealth transfer strategies and what you need to do to prepare for potential changes in federal estate and gift law.

WEBINAR | Post Election Roundtable Discussion

Elections have consequences. What do they mean for you and your family business?

In FBC’s Post Election Roundtable Discussion that took place on November 5, 2020, the expert panel assessed the potential economic outcomes of the presidential and congressional elections. With less than two months until year-end, what can family enterprises still do to affect business and personal year-end tax and wealth planning? Watch the recording to learn more.


WEBINAR + SLIDES | Paycheck Protection Program Part IV

CARES ACT Paycheck Protection Program (PPP)

FLASH UPDATE


Over the past several months we’ve brought you Paycheck Protection Program webinars Part I and Part II  and Part III to help you navigate the PPP program and make informed decisions.  Riley Gardner, River City Bank and Ben Brown, B|F|B|A| have teamed up once again to bring you the most current update. They answer a variety of questions during the webinar and help provide clarity while you prepare to fill out the necessary forgiveness forms.

This webinar covers:
  • Loan forgiveness application instructions
  • Changes, adjustments, and new information regarding forgiveness
  • Step by step details on how to accurately make your calculations

Fall Family Business Forum | The Evolving Workplace

Now it is more important than ever to reinforce your company culture, keep employees engaged, and expand your productivity capabilities within your family business. Watch this recorded session featuring FBC Technical Advisor Member and HR expert Kim Silvers, president of Silvers HR, as she leads a panel discussion focusing on finding out how other family businesses have navigated the evolving workplace, what new programs and protocols they have implemented, and what their vision is of the future of company culture and employee engagement. Member panelists include Sierra Nevada Brewing Co., Pacific Coast Building Products, DJA Properties, and Hogan Mfg., Inc.


 

FBC Leadership: Message to our Members

Dear Members,

From the smallest ‘mom and pop’ to our largest family business members, we have all been challenged to meet changes in our businesses that even the most prescient could not have forecasted. Some are weathering disastrous declines while others are sleepless trying to accommodate an unplanned but appreciated boon. To say the last six months have been difficult is an understatement.

Through these throes, we have witnessed communities come together to share ideas, lend a helping hand, and support each other in business. And the creativity and resilience are astounding and will continue to be so.

Founded with the mission to support all family businesses, we as the board of directors, committee members, and volunteers continue to delve into what you need to succeed and are dedicated to developing effective resources to meet those needs.

In July we conducted the Family Business Insight Survey to gauge the sentiments of the family businesses in our region. Thank you to the member businesses that took the time to respond for the benefit of all. Please continue reading for some takeaways from the survey. We know that robust dialogue and communication can only strengthen our organization and will continue to provide opportunities for feedback.

From the survey, we learned that the Generations Family Business Conference is one of the most important member events that we deliver. It’s terribly unfortunate that we are not able to gather in large groups for the foreseeable future.

The board of directors and planning committee weighed our options against the threat of diluting the value of the conference, collectively we decided to postpone the event until we can meet safely as a family business community.

We thank Generations Chair Justin Horner for his insight and look forward to greeting our sponsors, speakers, volunteers, and attendees at the Sacramento Convention Center when we can meet in person. In the meantime, please join the virtual events over the next few months. We have a great mix of programs that are certain to be entertaining.

Stephen Fleming, FBC Board President
Stella Premo, Executive Director, FBC

Feel Good Family Business Stories from our Members

We are #familybusinessstrong

Over the past several months we have been highlighting some inspiring member stories and updates on our website, our social media channels, and in our emails. These stories shine a bright light on just how special family businesses are (we admit we’re a bit biased, but we value you as members and will always help family businesses grow and prosper.) and the creativity, flexibility, and resilience they have exhibited. We can see first-hand how family businesses invest in their communities and those of their customers and, although 2020 has been a stressful year, we know for certain that they are a dynamic and instrumental part of our economy, our livelihoods, and our organization.

Take a moment to read their stories:

Not unlike most companies, in March when the mandated closures were issued, BIS had to quickly switch to remote working. Luckily, 90 percent of their employees were already set up at home – but the real challenge was finding the balance between communicating for work while respecting each person’s home environment.

The need for resilience in today’s business climate is showing no signs of slowing down so, this week, we bring you a chapter from Flyers Energy, LLC, a multi-faceted company that serves as an authorized ExxonMobil distributor, producer of renewable energy, cattle waste biodigester, solar management company and investment company.

All Fat Family restaurants, as expected, switched to a to-go only model the day of the mandated closures. The to-go team stepped up and successfully responded to the increased demand for takeout orders. A more challenging situation was paving a path for a return to in-door dining.  Once restaurant reopening guidelines were released, the executive team quickly got to work.

After any time of trial, it can be worthwhile – even valuable – to take a moment of reflection.  We believe that, more often than not, even in the worst of times there are often nuggets of newfound wisdom to appreciate.  And if we search hard enough, we may even discover an unexpected ‘silver lining’ or two.

Along with a shortage of toilet paper and hand sanitizer, you probably also noticed the bare shelves in the rice aisle. Lundberg Family Farms was already facing an increase in demand due to the bankruptcy of a leading private label supplier and had made plans to “plant all we could plant”.

Grant and Tyler Deary, part of the family ownership group of Nor-Cal Beverage, manufacturer and packager of ready-to-drink teas, ades, sparkling waters, energy drinks, juices and other noncarbonated drinks as well as a service provider for fountain drink and draft systems – both considered essential businesses under shelter-in-place guidelines.

With Major League Baseball in disputes as to how many games will be played and at what salaries, the season has a July start date, taking the majority of the season from the Savage Family, owners and operators of River Cats.

Stories of Resilience | DCA Partners

After any time of trial, it can be worthwhile – even valuable – to take a moment of reflection.  We believe that, more often than not, even in the worst of times there are often nuggets of newfound wisdom to appreciate.  And if we search hard enough, we may even discover an unexpected ‘silver lining’ or two.

When we reached out to our membership about this concept, we were pleasantly surprised that many were thinking along the same lines, some even creating dedicated blogs and newsletters to this concept.  We are pleased to share a couple here and hope they serve as a bit of inspiration for the future.

As a technical advisor, DCA is incredibly involved in FBC and we couldn’t be more thankful for their participation and counsel.  In this economic climate, we were certain that some of their clients – even the business itself – were in unprecedented situations.

The team was grateful to discover technological tools that allowed them to collaborate and communicate better—tools that they will continue to use even post-pandemic. Some of the team took a moment to recognize how time at home benefited them personally…

“Since the lap pools closed, I've had to run outside for exercise, which I was never good at. Now I'm running faster and longer distances and completed my first (virtual) 5K race last month.” - Amanda

“Working from home allowed me to witness my son experiencing many firsts, including speaking his first words!” - Casey

“My two sons, who live in Southern California, stayed with us during quarantine. It was great spending time with both of them!” - Curt

The results are in from our Family Business Insight Survey 2020

The benefits of having a robust and varied membership are many.  But perhaps the most valuable is the opportunity to collect wide-ranging perspectives to better understand the needs and challenges of family businesses as a whole.  While we all have our specific industries and niches, some issues become through lines for us all.

We make it a practice to initiate a membership survey every year after the Generations Conference but, this year, the results are especially poignant as we all make sense of the mid- and post-pandemic business climate. This year’s survey was sent to 1,475 members and prospective members. While the turnout was less than we had hoped, we were able to glean incredibly important viewpoints and opinions from the respondents that will inform our future events and programs.

  • The majority of respondents were family business founders and presidents. These business leaders are holding strong and not considering selling their business any time soon.

 

  • Responding businesses represent a variety of industries in the region.

 

  • It seems that there are two groups that responded to the survey – those that have taken advantage of FBC programs and those that haven’t but wish they had. To them we ask, What is your barrier to participation?  Let us know!

 

  • While some of our members are experiencing unprecedented growth, most agree that they are dealing with incredibly negative impacts of California’s response to the pandemic. Business leaders are not optimistic about a swift and strong economic recovery but most believe the Sacramento economy will rebound quicker and fare better than the rest of the state.
  • In this mid-COVID era, the topics on the top of our members’ minds are human resources, taxes, surviving post-COVID, emerging technologies, and how to address cost-cutting

 

  • Most agree that the federal PPP program made a significant difference in the viability of their family business. In response, FBC hosted several webinars on how to apply and be forgiven for PPP loans.

 

  • Working from home has become the standard but many employers are concerned about productivity from remote workers. Conversely, most feel that employees are highly engaged in their work. For those returning to work, the majority of employers are working to help employees through their fear for their personal safety. Since the spring, FBC has utilized the expertise of our Technical Advisors in human resources to address these types of personnel issues. Check out our upcoming program developed specifically with these HR issues in mind.

We miss our in-person events and are glad to know you do, too! Until we can meet again in person, we encourage all members to take advantage of our built-in virtual programmingevents, check-ins, forums, webinars, online library and much more.


We will close with a few quotes from members who have crystallized what so many value about their FBC membership:

“Family stories that I can relate to or draw inspiration from.”

“A great group of welcoming, friendly and knowledgeable individuals who are willing to share their practical wisdom.”

“Connection, insight, and information affecting family businesses.”

Not a member of FBC? Join today!

FBC is dedicated to helping family businesses grow & prosper.

Family-owned businesses have unique challenges that span beyond the day to day operations or gaining market share. We understand those challenges and have dedicated our programs to address those needs.

Our members are #familybusinessstrong

Find out more about membership.

Announcing Generations Conference Postponement

FBC’s Board of Directors and Generations planning committee weighed our options against the threat of diluting the value of the conference, collectively we decided to postpone the event until we can meet safely as a family business community.

 


In a normal year, the Generations Conference planning committee would be collaborating to launch Early Bird registration.  But this is anything but a normal year. As with most organizations, FBC has had to recalibrate and adjust our event calendar, putting Generations under the microscope.

While we know this will come as a disappointment to many, we believe it is the right course of action given the uncertainty related to the pandemic. We have come to understand from feedback from our members that the foundational value of the conference is the ability to meet in person and network with other family businesses. The decision to postpone enables us to maintain the quality and integrity of the conference by eventually being able to meet in person.

This decision also allows us to move to the larger, newly-renovated Sacramento Convention Center which will enable us to accommodate any social distancing guidelines still in place at that time. Justin Horner and the conference committee are working hard to secure a new date and will notify membership as soon as one is confirmed. All pre-paid registrations and event sponsorships will be honored for the rescheduled conference. Individuals with specific questions are asked to contact FBC Executive Director Stella Premo.

We look forward to seeing you soon and wish you the best in the meantime.


Stories of Resilience | Flyers Energy

We are excited to share these stories of resilience during Covid-19 from our FBC Family Business Members. Over the next few weeks, you will learn about businesses in various industries nimbly facing challenges through innovation and compassion. 


The need for resilience in today’s business climate is showing no signs of slowing down so, this week, we bring you a chapter from Flyers Energy, LLC, a multi-faceted company that serves as an authorized ExxonMobil distributor, producer of renewable energy, cattle waste biodigester, solar management company and investment company. It was formed in 1979 by four brothers – Tom, Walt, Steve and David Dwelle – and remains family owned and operated.

As a fuel and lubricant supplier to the transportation industry – deemed essential – Flyers remained open during the mandated closures and committed to keeping employees, known as “team members”, on full-time hours. Although Flyers was open, the team as a whole was no longer permitted back into its largest offices in Auburn, South San Francisco and Bloomington together. Immediately, 30 percent of office staff went to work from home. At that point, Flyers Energy had not finalized a formal company-wide WFH policy. “We had one foot on the dock and one on the boat. Now, after these months of practical experience, there is a policy in place,” added Haven.

“It’s the crisis moments when you assess all available resources and use and improve on the ones that best apply. Working from home, digital work tools, managing uncertainty, we already employed these things in some capacity. Everyone just stepped it up,” said Chris Haven, marketing manager.

Chris Haven, Marketing Manager and family member of Flyers Energy pictured here at a past FBC Generations Conference.

The work-from-home model did come with some challenges. As a company with locations in 18 states, many Flyers directors and managers had experience working remotely, but for others accustomed to coming to the office every day, they had to adapt to the changes quickly. Team members at home and at the office made full use of communication tools already in place. G Suite proved invaluable. Shared documents and calendars, and Google Hangouts meetings and instant messaging allowed team members to interact at much the same regularity and pace as they were used to – albeit digitally.

Uncertainty is stressful. It was important for leadership to demonstrate stability and communicate it to the entire company. The fairly new Human Resources manager came through with “Fly”-ing colors. HR communications were explicit, regular, and reassuring. The sleepy monthly company-wide video meeting was improved to be more engaging and to happen more often, going from monthly to weekly through March, April, and May. The CEO, CFO and COO started giving reports every time, from their offices, on video. It was a reassuring contrast to the swirl of changing information on the news.

“Showing what hasn’t changed has been critical,” said Haven. “Safe driver awards, years of service recognition, and charitable donations were reported as usual.”

She encourages other family businesses to be as generous as possible and consider what is good for the company AND the team. Share what you do know and show them what they can count on from you.”

#familybusinessstrong