The relationships among the family members who own the business and bear responsibility for keeping it alive is the biggest obstacle to succession between the generations in a family business.

Question

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Research has shown that the relationships among family members can be the biggest challenge when it comes to transferring ownership and responsibility of a family business to the next generation. Conflict, differing values and goals, and communication breakdowns can all impede the succession process.

The Relationships Among the Family Members Who Own the Business