A key component of generational succession is the ability of the parties involved to separate business issues from family relationships.
Leadership in this discipline needs to be provided by the exiting generation.
The roles of grandparents and parents need to be kept separate as much as possible from the roles of fellow Directors and Shareholders. While these aren’t business issues, they are significant issues in a generational succession. Ultimately, any breakdown in family relationships will have some impact on the business.
In ensuring the long-term success of your business, it’s critical to establish a well-designed succession plan. Coordination of the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation, taking the stress off your shoulders.