Family Business Succession: Three Basic Steps

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When a family business passes to the next generation it is likely going to fail. At least that’s what the statistics indicate. To beat the odds, planning and forethought are needed to create a clearly defined family business succession plan. One that will succeed.

Without this, the momentum of the family business can be lost, causing it to fail despite its recent or current success. Though transferring the ownership of a family business to a new generation of successors can be ...

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Family Business Succession: Hidden Costs

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The Cost of Doing Nothing

Putting the Business of Family at Risk

It is not unusual to for the owner of a family owned business to have a hard time with succession planning. In fact, are usually started then tabled due to the many issues that suddenly come to the front. When this happens, the most common response is “denial.” Sadly, substantive succession planning may be put on hold until some sort of crisis – either in the owner’s family ...

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