Most people (70%) trust family businesses to do what is right, compared to 58% for publicly traded companies, according to Edelman’s Trust Barometer. However, many family businesses fail to capitalize on this natural advantage to develop trust, according to PwC’s Family Business Survey. While 78% of U.S. family businesses recognize trust as important, “only 52% believe their customers fully trust them.” 

Since families own most companies worldwide, many of your customers and suppliers are likely family businesses. Leveraging this common ground enables companies to build mutually beneficial relationships rooted in shared values and long-term goals.

A recent Harvard Business Review article outlines four main actions to build positive client-business relationships:

1. Lead with your family identity.
2. Embed family-to-family values across your ecosystem.
3. Cultivate multigenerational bonds.
4. Professionalize while preserving “familiness.”

A family-to-family strategy leverages the core strengths of family businesses, such as personal reputation, generational thinking, and values-based decision-making. This approach offers three key benefits: mutual commitment at the family level, inherited business relationships, and faster decision-making.

Workers in Florida could agree to work for less than the state minimum wage under a bill in a Florida House committee, according to WFSU Public Media. The state bill would allow employees to waive the state minimum wage to participate in work-based learning programs, internships, and pre-apprenticeships.

Florida’s minimum wage will increase to US$15 by September. The bill proposes workers could sign a waiver to be paid less, but at least the federal minimum wage of $7.25, for the duration of the programs, which could last 252 days for individuals 18 years or older and 126 days for minors.

WFSU reported Milton Republican Representative Nathan Boyles, who owns a solid waste company that employs more than 100 people, said the bill allows employers to offer some pay. At the same time, employees get training, but not the full cost to businesses of the state’s minimum wage.

The bill prohibits employers from coercing employees to accept the waiver, but no requirement is in place to hire them if they refuse the lower wage or keep them on at the state minimum wage once the 9 months are over.

A similar bill was filed and passed by Florida House committees last year but was not brought to the House floor. It comes as Republicans nationally generally oppose minimum wage protections.

Meanwhile, last month in Alabama, a bill was introduced to establish a state-mandated minimum wage of $10 per hour. For more than 15 years, the state has had no minimum wage requirement, keeping workers at the federal minimum wage of $7.25 an hour. The federal minimum wage has remained frozen since 2009, and Alabama senators argue it hasn’t kept up with the cost of living.

The Alabama bill also introduces protections for small businesses. Businesses with fewer than 50 employees would be excluded from the requirement. If passed into law, the bill would take effect Jan. 1, 2027.

In Utah, a bill was also introduced to raise the state’s minimum wage from the federal minimum to $20 an hour. Even though this would be tripling the state’s current minimum wage, senators argue the amount still doesn’t keep up with a livable wage, which is closer to $24. The bill also would require employers to list salary ranges on job applications.