Succession and Transition for the Family Owned Business

Succession and Transition for the Family Owned Business

by YourBoard | The Situation Room

Succession and Transition for the Family Owned Business 

This video will help you effectively transition the family business from the current generation to the next generation.

Frequently Asked Questions

What is the best way to involve family members in the family business?

The best way to involve family members in the family business is to hire all outside professionals to man the leadership and management positions and give all family members equal stock and provide them with dividend income.

What are some fears with involving family members in a family business?

The number of family members involved in the family business, their relationships, and in what positions they are assigned will all determine the seriousness of the potential conflict.  Sometimes the company, under troublesome family environment, will not function at full potential and much of the potential profitability and company value will go unrealized.

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