With conflicting signals about the pace and sustainability of U.S. economic recovery, it's crucial for family businesses to revisit their contingency plans, think about the positioning of their businesses and expectations about growth, according to financial advisers.

Dennis Stearns, president of Stearns Financial Services Group, a fee-only wealth management firm in Greensboro, N.C., who advises family businesses with revenues ranging from $25 million to $250 million, is helping clients get to grips with challenges they are likely to face in 2010 as they seek to survive the effects of the recession.