Mainebiz

V O L . X X I X N O. X X V O C T O B E R 3 0 , 2 0 2 3 8 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Clinic at its Scarborough office located at 51 U.S. Route 1. Doucet Survey LLC opened an office at 124 Fletcher St. in Kennebunk. Cheese Louise, a restaurant company specializing in artisan grilled cheese, announced that it will open a location at Rock Row in Westbrook in 2025. KeyBank and KeyBank Foundation said it awarded a total of $347,000 to 21 nonprofit organizations in Maine. The funding supports homelessness, food insecurity, financial literacy, pre- ventative health care and more. The U.S. Fish and Wildlife Service announced the planned remodeling and expansion of a multipurpose center in Kennebunk that, when complete, will house the offices and visitor center for the Rachel Carson National Wildlife Refuge and the Gulf of Maine Coastal Program. Ling Cao, a professor of biomedical sciences at the University of New England's College of Osteopathic Medicine in Biddeford, was awarded a $1.7 million grant from the National Institutes of Health to research the Scan to learn more GorhamSavings.Bank/LaunchPad A S K AC E A n s w e r e d B y P r i s c i l l a H a n s e n M a h o n e y The Association for Consulting Expertise (ACE) is a non-profit association of independent consultants who value "Success through Collaboration." The public is welcome to attend its regular meetings to share best practices and engage with industry experts. For more information go to www.consultexpertise.com. Q: My brother and I work for our family business. We know our father will retire, and that there may be unexpected events. Can you suggest resources for starting a family conversation about the business' future? ACE advises: You are not alone; 80% of Maine's businesses are family-owned, so others have faced similar situations. Navigating "the talk" — the succession talk — can be chal- lenging depending on your family's openness to future plan- ning. Here are some best practices from the Institute for Family-Owned Business, a nonprofit supporting and empow- ering family-owned businesses in Maine. Shift from reactive to proactive. Instead of reacting to stressful events, like retirement or a health crisis, initiate succession planning proactively. Attending educational events together to start the conversation. Hearing others' experi- ences can inspire productive discussions at home. Acknowledge experience and legacy. Recognize the hard work, dedication and sacrifices that built your family business. Express gratitude for the lessons learned and the legacy cre- ated. Acknowledge your father's continued role in shaping the business's values and vision. Address his potential fears and uncertainties about the future. Be clear on your aspirations. Define your role and future in the family business, includ- ing your desire to stay and the responsibilities you envision. Identify the needed education, resources and support for success and be open to seeking additional help and professional development. Get support. Based here in Maine, the Institute for Family- Owned Business offers resources and peer advisory/affinity groups for guidance from those who've faced similar challenges. Succession planning in family business is often a difficult and emotional process but help and support is available. Priscilla Hansen Mahoney of Blazing Trails Coaching is the next gen affinity group advisor for the Institute for Family-Owned Business. Priscilla grew up in a family- owned business. She can be reached at priscilla@blazingtrailscoaching.com Join the IFOB on Nov. 9 for a program to learn about the next gen peer advisory groups and how to enroll: www.fambusiness.org/programs_events/ @

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