Guide to Family Succession Planning
19 September, 2017
A family business is one of the most challenging, yet rewarding environments in which to build and secure your future. The unique stresses of knowing that even if you sack an employee, they will still be there at Christmas lunch, and that an unsuccessful employer appraisal may be brought up at the breakfast table are enough to put off many from giving it a go. But the certainty of knowing that the board absolutely has your back, and that interests of shareholders are genuinely aligned can make it all worth it for many.
However one challenge that is definitely not easier within a fmaily business is the challenge of how to hand it down to the next generation, planning for the long term success of the business once it passes from the founder, or often even more problematic can be when the current custodian is not the founder, who then often not only has more family shareholders to contend with, but the added pressure of knowing that having been 'given' the business it is their responsibility to safely hand it on.
Helping family businesses through that transition can be a valuable part of what we do here at Walden Capital - and this short paper on the issue may help focus your mind on the problems you may face, and some of the solutions that may be brought to bear.