Get breaking news alerts via email

Click here to manage your alerts
(Al Hartmann | The Salt Lake Tribune) Annie Curry, 65, poses with her son Carter in front of Granny Annie's a Kaysville diner and institution. The two have opened a second Granny Annie's in Bountiful.
Utah family businesses face unique challenges
Harmony » Zions Bank holds conference geared for family-operated companies.
First Published Jan 13 2014 08:31 am • Last Updated Jan 13 2014 04:55 pm

When Natalie Kaddas took over the family business from her in-laws, she ran head-first into a series of unique issues that other business owners don’t.

There was more pressure to succeed to impress her mother- and father-in-law. She had to tell family members who worked there that there is a definite separation between family and work life. And it wasn’t exactly easy to tell family members that they had to start filling out expense reports.

Join the Discussion
Post a Comment

"They really weren’t very happy with me," she said. "For a normal business that may seem normal. But for a family business, they may say, ‘Why do we need to do that?’ That is so challenging because you walk a fine line between being a daughter-in-law and being a boss."

Kaddas, 41, who is the general manager of Kaddas Enterprises in Salt Lake City, which designs and manufactures plastic parts for clients such as airlines and the Utah Transit Authority, is attending a one-day conference put on by Zions Bank that is geared for family businesses.

The Zions Bank Family Services Conference will be held Tuesday and is by invitation only. During the conference, attendees will learn how to best make the transition to running a family business and how to raise financially responsible children and grandchildren who are growing up in the business.

"I’m hoping to understand the resources available for family businesses because they are different," Kaddas said. "You have your own family dynamic and how it’s entangled with the business element."

According to the Conway Center for Family Business, 80 to 90 percent of all U.S. businesses are family-owned and/or family-controlled. About 35 percent of Fortune 500 companies are family-controlled. And issues like succession of the family business will become a larger issue. According to the center, more than 40 percent of the country’s family-controlled business owners are expected to retire by 2017. Yet more than half of them had not yet selected a successor.

"At Zions Bank, we are equipping our clients with expertise to define and plan the future of their businesses," Zions Bank Family Business Services Manager Chaitali Patel said in a statement. "This helps them retain and build wealth, family harmony and priceless legacies."

After taking over Kaddas Enterprises in 2008, the company of 22 employees grew 37 percent in 2012 and 10 percent last year. Kaddas said she and her family have been able to find that family harmony as she turned the company into a successful business.

"It adds some complexity to some of the relationships. But I said that these are our business goals … just like any organization and here’s what we’re doing and how we’re doing it," said. "The logical side always tends to win out over the emotional side."

story continues below
story continues below

Even with her husband, who is the head engineer for the company, Kaddas knows how to keep the business and family life in check.

"We don’t commute together and we don’t eat lunch together," she said about not spending too much time together. "That’s the rule."


Twitter: @ohmytech

Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment

About Reader Comments

Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.