As appeared in the Golf Business Canada magazine Spring 2018 edition
Research shows that too much attention is being paid to the technical aspects of the succession plan, such as the estate freeze, business valuation, tax minimization, trust and wills while too little attention is being paid to the no-technical component such as...
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The Keys to Family Business Continuity: Laying the Groundwork
As noted in a recent Jewellery Business article, research demonstrates although most owners would like to transition their businesses to the next generation, 67 per cent don’t make it to the second generation, and 88 per cent don’t make it to the third. (For more on these numbers, consult the fourth edition of Ernesto...
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The Keys to Success: Means and Methods for Training a Successor
We have all heard statistics stating 67 per cent of family businesses won’t make it to the second generation and 88 per cent won’t make it to the third. (For more, see the fourth edition of Family Business by Ernesto J. Poza and Mary S. Daugherty, published by South Western Cengage Learning in 2014.) One of the contributing...
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Why Grooming a Successor is Critical to a Family Business
Who will lead the family business once I am gone? What will happen to my retirement when the next generation takes over? How can I tell my daughter she just isn't ready to lead?
These are just a few of the questions that can keep a family business owner up at night - and for very...
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