If you fail to plan, you are planning to fail. Benjamin Franklin put it as succinctly as can be. This is true of almost everything in life, and nowhere is this more evident than in family businesses, where the question of which family members should join the business, and when, is absolutely crucial. It’s never too early for a succession …

Many graduates have asked themselves: Should I get a job or join the family business? In theory, joining a family business seems to solve a number of problems for you and your parents. You don’t have to stress about finding a job while you have the opportunity to develop and grow an already established business. Sounds like a win-win situation …

Many family businesses fail or are sold before they reach the second generation. That’s the bad news. Here’s the good news: family businesses are critical to the global economy’s health. According to the 2021 EY and University of St. Gallen Family Business Index, the 500 largest family businesses employ 24.1 million people and generate $7.28 trillion in revenue. This reminds …

Succession is a challenge that every business has to face from time to time. Every employee, from a new recruit to a C-suite executive, needs to be succeeded when they leave their job, retire, or are promoted from their current position. But nowhere is the issue of succession more fundamental than in a family business. You could easily say that, …