Family-Owned & Operated Businesses
Barry Kornfeld, based in Palm Beach, Florida, is a Principal and Commercial Finance Consultant at Value Capital Funding.
Born into a family who worked within financial services, he felt a calling for a career in finance and now possesses over three decades of experience within the industry. After years of working for other companies and organizations, Barry founded Value Capital Funding along with his brother and wife, Ferne, continuing his deep ties to the industry.
The ability to work closely with his brother and wife is incredibly rewarding for Barry. He finds that family-owned and operated businesses allow for more stability, trust, flexibility, and versatility due to the close relationships between management. With the inherent trust present between family members, decisions can be made through open and honest discussions, which leads to increased stability. Barry is also grateful that his business partners, who happen to be his family, are willing to take on several roles and workloads to ensure the company succeeds. With family-owned businesses, everyone has a vested interest in its success.
However, despite all the pros of running a family-owned business, Barry Kornfeld doesn’t dismiss the challenges they face. For instance, getting his business’s message out and heard by the right audience is incredibly difficult in the overcrowded financial marketplace. What’s more, it can also be difficult to have a place for yourself when you work with your family. Barry, while half-joking, believes having a quiet, private place to yourself is essential to regrouping and executing personal tasks.
As a shareholder in a family-owned business, Barry feels grateful to be able to offer financial services to other businesses—many of which are mom-and-pop stores themselves. Value Capital Funding, unlike other commercial finance companies, shies away from traditional lending and focuses exclusively on debt-restructuring. Barry, Ferne, and his brother refocused the business after realizing that so many businesses and companies were so incredibly over-leveraged yet still seeking solutions to their debt. Often, the solutions they were given centered around more loans when what they truly needed was to have their debt restructured.
Now, Barry Kornfeld and the team at Value Capital Funding are often what stands between small business owners and bankruptcy. He has seen the positive impact family-owned and operated businesses have on their communities through helping to fight income inequality, providing local jobs, and increasing the overall standard of living. As such, he feels grateful to help these businesses rehabilitate themselves so that they can continue to better the communities they serve.