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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