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Women Who Mean Business
Charting your own path within the family enterprise
The number of women-owned businesses has increased by 26% since 2012 — outpacing 19% overall business growth.¹ And with more than 70% of family firms considering a woman as their next CEO,² it’s clear we are witnessing not just a passing trend, but a profound shift in succession planning and the future of business leadership. This marks more than a simple passing of the torch. It represents a shift in vision, strategy and stewardship — one that blends tradition with innovation, and legacy with fresh perspective.
These leaders are not just maintaining the status quo — they are transforming it by bringing a collaborative spirit and deep commitment to both family and community. This new era of leaders is charting bold paths forward and proving that leadership is defined not by title, but by the courage to embrace change, make decisive moves, and carry forward the values that sustain a family’s legacy.
In this issue, we spotlight two extraordinary women who embody this next chapter of leadership. From a woman boldly revitalizing a beloved American brand with grit and vision, to a second-generation owner leveraging her own experience to thoughtfully prepare her daughters for successful stewardship — these stories illustrate the impact of women stepping into their power as business leaders, innovators and legacy builders.
Whether you're stepping into a leadership role within a family enterprise, preparing the next generation to carry forward a legacy, building your own business, or simply curious about the growing impact of women in leadership — we hope this issue empowers you to embrace your unique perspective and turn your vision into meaningful action.

“When you’re trying to revive a business, run a business, take on a business, or start a business, it’s lonely — but you’re not alone.”
Learn how one woman revived her family’s fading brand into a fresh vision.

"When my daughters come into my office to tell me about something that should be fixed, I can’t help but smile thinking about how I did this to my dad 40 years ago."
Learn how one woman blended tradition with transformation to lead a multigenerational business with heart, purpose and impact.

Keeping the Family Business in the Family
Five strategies to preserve the legacy of your family business for future generations.

Preparing the Next Generation to Lead the Business
Five approaches to prepare the next generation to lead your company.

Family Business: The Keep or Sell Decision
The decision to keep or sell a family business is usually not an easy one. But answering a series of questions can help lead you down the right path.

Additional Insights
- Money Masterclass
The Entrepreneur's Trust
Will your wealth plan encourage your children’s entrepreneurial spirit or foster complacency?
- For Family Offices
Should I Work In The Family Business... Or The Family Office?
How you can help the next generation succeed in their role.
- Money Masterclass
Family Business: Hiring and Working with Family
Five strategies to preserve your family business for future generations.
Elevating Women Magazine
Explore Other Issues
Learn More About Our Community
We’ve created a community where women are working together to share their knowledge and experiences. Learn from each other and experts as we navigate pivotal life moments and work to turn the vision we have for our future into action.
PARTNER WITH US
Northern Trust works with high-net-worth individuals and families to optimize the impact of their wealth and legacy. Request a meeting to discuss how we can work together.
Sources
1. 2025 Women Business Ownership Fact Sheet. Association for Enterprise Opportunity.
2. “Creating Inclusive Pathways for Next Gen Women Leaders in Family Businesses.” Wealth Management Magazine. October 28, 2022.