Small Family Business Owners Stress Imparity of Well-Developed Succession Plans

The younger generation waits decades to take over, and when they are finally in control, they’ve lost the motivation to grow the family business

England’s Prince Charles is going to be 65 years old this fall. Poor guy. He’s been waiting his entire life to take over as head of the family business. Now he’s retirement age and he’s still waiting.

The same scenario plays out in a lot of family businesses. A past...

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