Succession planning

Creating a Succession Plan for your Family Business

The statistics are terrifying. A mere 28% of family businesses, across the globe, successfully move from founder to next generation, and only 4.8% make it to the third generation. How do you ensure that the momentum, built by the first generation, continues when the second one takes over? On The Money Show with Bruce Whitfield, Pavlo Phitidis outlines the fundamental principles of creating a succession plan for your family business: