Passing the torch: how to handle the succession process

Succession is a process that challenges, and often defeats, family businesses. A common problem founders are faced with is the fear that their children may not be capable of running the family business efficiently and effectively.

This fear, whether expressed or not, can undo even the best-laid plans. Business founders often find it difficult to let go of their business and hand it over to the next generation. Unfortunately, the matter of succession ...