“Passing the Torch – Transferring a Family Business to the Next Generation”

Owners of family businesses regularly work and plan for the day when they can retire, cash in the equity they have built over the years and transfer the business to a younger generation. The transition of a family business to a new generation, however, rarely proceeds without any problems and often faces significant difficulties and on occasion even fails. This article identifies a few of the more common issues that can arise in the process and suggests some mechanisms for dealing with and preparing for them.

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