What the Research Shows
Family Business Research
Lets take a closer look at the research and the alarming trends when it comes to succession planning. Why is the failure rate for succession planning so high and what are the key challenges during the succession planning process.
John Wards Succession Research
- 30% survive to the 2nd generation
- 13% survive to the 3rd generation.
- 3% survive to the 4th generation and beyond.
The Importance of Family Values
It is essential to spend the time to discuss family values and the direction of the business. This ensures that family members are equipped with the right skills to manage the business in the future.