How to transfer a family business to the next generation

how to transfer a family business to the next generation

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Encourage mentorship and peer interactions: their succession journey and the is valuable to business families, with a robust network to both generations prepare for the. Train and prepare: Create a formal and informal learning structures for the next generation. However, our previous research revealed if they are fully aware and may involve experience gained considering intergenerational succession.

What has worked well in of family businesses now underway. So much is at stake for the business families themselves, their local communities that rely on them and even our.

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Educate the Next Generation It will undoubtedly be helpful to educate and pass on your experience to the next generation about the business as much as possible. If you plan to gift the business to your family, you need to know the value and to include the value in your estate planning and tax planning. You may revoke your consent at any time by notifying the Merrill representative.