Ownership Transitions

Transitioning to the Third Generation

Published: 2008 05 02 | Views: 1381
Despite all the factors pulling against the second generation owners, they have successfully managed to transition from the parent generation to the sibling generation. There were bumps along the way, but most of the kinks have been ironed out and things are running smoothly… for now.

Setting Up Conditions for Success

Published: 2007 11 23 | Views: 1253
I am currently working with two family businesses – one where the founder (Bob) is well into his 70s and continues to rule with an iron fist, and the other where the founder (Jim) is in his 60s and has passed managerial control to a non-family member. These two stories illustrate the difference between being proactive versus being reactive when it comes to succession planning.

Nothing Left to Chance

Published: 2007 10 22 | Views: 1266
Across the country, there are thousands of savvy business owners who have built successful companies, diligently investing countless hours into planning to ensure the success and viability of their businesses. But when it comes to planning for their company's future after their retirement or death, a majority are just crossing their fingers.

Beating the Odds

Published: 2006 02 20 | Views: 1233
A recent survey of small-to-medium sized businesses (SMEs) in Canada by the Canadian Federation of Independent Business (CFIB) found that only 35% of business owners have a plan to exit their business. Of those with a plan, only 23% have a process for identifying a successor and just 38% have a process for training one.
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