It’s not uncommon for parents who run successful family businesses to consider passing the company on to their children. Having built a successful business, you’re looking for the most effective way to pass it along.
While passing a business down to the next generation may seem like a noble gesture, it is rarely successful. Statistics show few businesses are successfully transferred to the next generation. Ensuring success requires experience and a well-developed and thought-through plan. US Small Business Administration stats:
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