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A family business council helps drive the family business
Could your family business benefit from outside counsel? Your CPA, a marketing specialist, a finance person . . . are commonly included on the boards of family run businesses.
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Next in line for the family business
Increase the odds! Only 30 percent of businesses are passed on to the second generation, and only about 15 percent make it to the third generation of the family.
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Transferring control in a family business
Only one out of three survives the transition from the first generation of ownership to the second. Why is the survival rate so low? Experts in family business management say that four basic factors are the cause . . .
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Transitioning between generations
Although it is certainly possible to transfer ownership from one family member to another it’s not as simple as it may seem at first and requires planning to ensure it happens smoothly.
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