"It's Only Men that do Business" A Question of Succession.
Posted 10 May 2006
In my view the very notion of Family Business succession rests upon the premise that a set of generic concepts underlies the planning process. In the UK, rapidly following the American models the issue of succession in family business is becoming a packaged industry.
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Successful succession - Five Key Steps
Posted 10 May 2006
The statistical evidence for family businesses passing on from generation to generation seems to show that in general only 30% of family business would pass to the second generation and only about 10% to the third.
While this is not always a bad thing, as many families decide to cash in on a business which has been successful and perhaps use the money thereby released for other things, it is often a desire of the founder for a business that it should be in a position to pass on and may wel l become a matter of pride over time that the business should continue within the same family. If a young entrepreneur has created a business and wishes that it would continue in this way, then it would be well to consider the following points.
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