Family Businesses Face Big Issues

Nearly half of family business owners (43 percent) have no succession plan in place.*

Whilst nearly 70% of family businesses would like to pass their business on to the next generation, only 30% are successful in doing so.*

* source Peak Family Business Survey

The high failure rates of family businesses may seem unavoidable

Running a family business can be challenging:

They face common issues in dealing with:

            • Conflict in the family
            • Divorce 
            • Keeping up to date with the times and managing change
            • Managing differences of opinion with family members 
            • Managing business succession to new generations in the family
            • Engaging with and empowering the next generation

And most important…

Keeping day to day business out of family life

It may be time to avoid the pitfalls that can destroy a family business. 

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