Over half of family-owned businesses do not continue into the second generation.

Name: Over half of family-owned businesses do not continue into the second generation.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Many family-owned businesses struggle with succession planning, leading to over half of them not making it past the first generation. This is often due to a lack of interest from the next generation, inadequate preparation for leadership transition, or internal conflicts.

Over Half of Family-Owned Businesses Do Not Continue into the Second