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V I E W P O I N T S W W W. M A I N E B I Z . B I Z 3 O C T O B E R 3 1 , 2 0 2 2 From the Editor I n a recent poll by Mainebiz, we asked readers if it was important to them to patronize family– owned businesses. e answer was a resounding yes, with 76% of voters saying, "Yes, I believe in supporting local businesses whenever I can." In this issue, we take a closer look at how family businesses operate, from the way roles are divided to how businesses are passed down from generation to generation. At most successful family businesses, the successive generations have to prove themselves in some way — the classic examples are sweeping the floor or working in the warehouse. In addition to sweat equity, actual equity is another way to take over a family business — because, after all, the par- ents would like to actually enjoy retirement. Every family has its own formula for succession. In our cover story, Senior Writer Renee Cordes talks to Cross Insurance's Royce Cross, who recently handed over the CEO mantle to son Jonathan, as well as some other business owners that have made the leadership transition. See "Stepping up," which starts on Page 16. Elsewhere in the issue, Senior Writer Laurie Schreiber asks couples who are in business together how they divide the responsibilities — and how they resolve work conflicts. See "Division of labor," which starts on Page 24. Some new faces at Mainebiz I'm happy to report we have two new additions to the Mainebiz editorial team. Ann Fisher, a longtime Mainer and news vet- eran, has taken over the Digital Editor role, oversee- ing the Daily Report, Weekly Report, homepage and social media efforts. She can be reached at afisher@mainebiz.biz Alexis Wells joins Mainebiz as a reporter cover- ing health care, tourism agencies and personnel moves at professional services firms. She can be reached at awells@mainebiz.biz e rest of the editorial staff, as mentioned above, includes: Renee Cordes, who covers financial services, law firms, restaurants and retail and a range of general- assignment duties. She also handles podcasts and "On the Record" Q&As. She can be reached at rcordes@mainebiz.biz Laurie Schreiber, the longest-tenured staff writer at Mainebiz, continues to cover commercial real estate, producing the Tuesday Real Estate Insider (real estate deals), commercial fisheries, boatbuild- ing and news from Downeast. She can be reached at lschreiber@mainebiz.biz As the editor, I oversee the news operations at Mainebiz and also produce the Building Business column and the ursday Real Estate Insider, which focuses on development news. I can be reached at pvanallen@mainebiz.biz General news releases can continue to be sent to editorial@mainebiz.biz Peter Van Allen pvanallen@mainebiz.biz Featured @ Mainebiz.biz For a daily digest of Maine's top business news, sign up for the Mainebiz Daily Report at mainebiz.biz/enews Get Maine's business news daily at mainebiz.biz and on Twitter (@Mainebiz). Below is our top content from Oct. 11–25. 1. Maine family businesses honored for going the extra mile 2. Portland broker named Maine State Realtor of the Year 3. Port Property acquires West Bayside portfolio for $25M 4. Top 2022 Best Places to Work in Maine releases rankings 5. Private equity group nabs Rockland shopping plaza for $14.6M before it hits the market 6. $10.2M sale of apartment complex is Lewiston's largest in years 7. Portland's newest hotel opens for business on city's East End 8. Scarborough contractor has a lot of steel going up in Portland 9. Two Portland architectural firms awarded for design excellence 10. After a pandemic shakeout in Castine, a new wave of owners is rebuilding key businesses P H O T O / F O R E S I D E P H O T O G R A P H Y 1 We partner with clients big and small to get the deal done. bernsteinshur.com Be valued. BE SHUR. You'll find a true partner in our Mergers & Acquisition team. Whether working solo or with a team of advisors, we regularly manage all aspects of mergers, acquisitions, divestitures, and joint ventures – allowing you to focus on the road ahead. Family-owned businesses take the spotlight At most successful family businesses, the successive generations have to prove themselves in some way.

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