Family business – succession and generation overhand
Family enterprises represent a significant group of business entities with a significant contribution to GDP in economically developed countries where long-term personal ownership was permitted.
Family businesses are known for their unique atmosphere in which the interaction between the tough business climate and emotional family relationships take place. As there is usually multi-generation cooperation in a family business, it is difficult to distinguish and separate relationships that are professional and informal between family members at work.
Planning and preparing the future is an important factor for family business. Founders have the opportunity to prepare and secure the perspective of future generations in the family, strategically plan their education and prepare them for the expected positions in the company.
After a certain period of time a family company has to make a decision as what to do next. Either succeeding the company to their children or selling a part or the whole company or hiring an external management.
No interest in succession
Transition of parenting business to children
Family relationships
Process improvement
Communication
Professional management
Based on predefined criteria and requirements we are accompanying the client throughout the whole process and during the various phases of over handing process of the family business.