Some family businesses successfully manage their management and ownership succession plans while preserving family and business harmony. There is no reason more family businesses cannot achieve similar outcomes. There is a proven approach to family business succession planning that produces better results.
Who says the family business won't make it to the next generation?
Passing on the family business to the next generation can be tricky and filled with risk if not done properly, according to Grant Walsh, Co-founder of KPMG's Centre for Family Business. In his book entitled: Family Business Succession: Managing the All-Important Family Component, Mr. Walsh attempts to answer the question ‘what is going wrong with family businesses and the succession process?’
The book focus on the following hot topics:
The book also includes a comprehensive range of proven ‘How-To’ strategies to assist family businesses in managing their family component as they plan for succession and work through the actual process. Although family owned businesses come with many challenges, to Mr. Walsh explains that work in a family business is unique and can be the most rewarding.
© 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.
KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal entity. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. For more detail about our structure please visit https://home.kpmg/governance.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.