When it comes to family business succession, the next generation often struggles to maintain the business’ success. In fact, the transfer from generation one to generation two is usually about 30% successful, while the percentage of successful transfers between generations two and three sits around 13%. The reasons can run the gamut from the next […]
Every family business inevitably confronts the interruption of how to ensure continued involvement and interest through multiple generations, making sure that every member is heard and represented. The solution is creating a family of entrepreneurs. For a time, my father chose to follow a different path than his family business, taking up engineering – a […]