While a large percentage of business founders plan to pass on their businesses,few create management succession plans because:

Question

Quizplus · Accepted Answer

Many business founders struggle with the idea of letting go of their businesses, leading to reluctance to create management succession plans. While some may not know how to create a plan or may not be able to afford professional fees, these reasons are typically not the primary factor in the lack of succession planning. Additionally, assuming a child will automatically take over the business can lead to problems if the child is not actually interested or capable of managing the business.

While a Large Percentage of Business Founders Plan to Pass