Family Business Succession
The challenge with succession planning for the family business is to consider many different dynamics at once. On the one hand you have family, on the other hand you have a business. The business has management, a culture and it own leadership structures in place. With the family it is the same. Furthermore, you have some individuals who are owners of the business but do not participate in the running thereof. Then you also have management, who often come years with the business, but has no ownership in the business. All of this has to be put together with succession and retirement objectives. That is why we use the process below to streamline succession planning.