--- title: Innovation in a Family Business description: As new products, consumer trends, economies, and business models emerge, it is important for family business owners to adapt and be open to change. 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[Hospitality, Restaurants, and Retail](https://scottandco.com/industries/retail) - [Manufacturing and Distribution](https://scottandco.com/industries/manufacturing) - [Medical](https://scottandco.com/industries/medical) - [Nonprofit](https://scottandco.com/industries/non-profit) - [Professional and Business Services](https://scottandco.com/industries/professional-services) - [Real Estate](https://scottandco.com/industries/real-estate) - [Insights](https://scottandco.com/blog) - [Careers](https://scottandco.com/careers) # Innovation in a Family Business [Admin](https://scottandco.com/blog/author/admin) Jul 13, 2018, 12:00:00 AM [Blog](https://scottandco.com/blog/tag/blog) ![Innovation in a Family Business](https://scottandco.com/hubfs/Imported_Blog_Media/iStock_000010567995Medium-3.jpg) As new products, consumer trends, economies, and business models emerge, it is important for family business owners to adapt and be open to change. This articles discusses why family businesses must innovate and create initiatives that keep up with changing times. To view this article, click the following link to access the original content. [https://www.nst.com.my/opinion/columnists/2018/07/389528/innovation-and-family-firms](https://www.nst.com.my/opinion/columnists/2018/07/389528/innovation-and-family-firms) - [Tweet](https://twitter.com/share) ![Scott Logo with Tagline - FINAL-ReversedText](https://scottandco.com/hs-fs/hubfs/Scott%20Logo%20with%20Tagline%20-%20FINAL-ReversedText.png?width=300&height=92&name=Scott%20Logo%20with%20Tagline%20-%20FINAL-ReversedText.png)   ##### Quick Links Quick Links - [About](https://scottandco.com/about) - [Services](https://scottandco.com/services) - [Industries](https://scottandco.com/industries) - [Insights](https://scottandco.com/blog) - [Careers](https://scottandco.com/careers) ![SCBIZ BPTW logo 2026](https://scottandco.com/hs-fs/hubfs/SCBIZ%20BPTW%20logo%202026.png?width=150&height=158&name=SCBIZ%20BPTW%20logo%202026.png) Proud to be named a South Carolina 2026 Best Places to Work—our 12th year on this prestigious list. 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