Planning your family business's future
Just as in one’s personal life, a “failure to plan is a plan to fail.” Family-owned businesses account for 80%-90% of all business in the USA and contribute roughly 60% of the nation’s GDP and 78% of all jobs.
Unfortunately, the survival rate of family-owned businesses is low.
- Only 30% survive into the second generation.
- Just 12% are viable into the third generation
- A mere 3% percent of all family businesses operate into the fourth generation or beyond.
According to PricewaterhouseCooper’s 2014 survey, only 14% of family businesses have discussed and documented their succession plan. A similar survey documented that 16% of the respondents said members of their company’s key management team quit because no ownership transfer plan was in place.
Having successfully navigated a transition of leadership and control from the first to the second generation for our business, we are uniquely positioned to help you develop and implement your business transition plan.
Our team of specialists include the following:
- Professional coaching (business leadership and personal development)
- HR Training Specialists
- Retired Executives and Business Owners