Family Business Passing Leadership Role To Next Generation Is Tricky If Path Not Carefully Planned After years of hard work, you’ve built the family business into a great success and you take pride in meeting the challenges that each day brings. At some point, though, the day arrives when it’s time to turn the reins […]
Tag: "family succession"
You need to consider a plan for your business’ future. Prepare for the worst — the chance that you’ll suffer a serious injury — by designating and training an appropriate successor for your business, attorney Jack Garson says. And take into account the many other consequences by preparing contingency plans for taxes, loan obligations and […]
Family-run companies are in many respects the backbone of American business. They are typically the most stable of small businesses, with a much lower failure rate than other small business models. Some of the largest and most successful companies in America are family owned and operated, yet 70 percent of family-run businesses don’t make it […]