According to the Small Business Administration in the USA, only a third of family-run firms make it to the second generation. What are the strategies to ensuring your firm is one of those that survive? The key is succession planning. (more…)
Posts Tagged ‘family business transition’
Family Business Transition Dilemma – Who Gets The Baton?
Family business transition planning is frequently predicated on the assumption that someday the parents will be passing on the baton to one (or several) of their own children. What more satisfactory way of crowning their lifelong efforts and hard won success than to pass on the legacy to their own kin so they too can continue to enjoy and prosper from it. (more…)
