The process of preparing a family member to take over a family business typically takes about one year.

Question

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The process of preparing a family member to take over a family business can vary in length depending on various factors such as the complexity of the business, the experience and skills of the successor, and the readiness of the current owner to let go. It may take several years or even decades to fully prepare someone for the role.

The Process of Preparing a Family Member to Take Over