FAMILY-OWNED BUSINESSES who contemplate transitioning to modern governance (boards), business development (licensing and innovation), and market expansion (internationalization) often are daunted and suspicious. The owners typically have scant formal business backgrounds, and were trained by the family. The business has served as a cash cow for the family, and relies on continued inheritance to continue this way. There are numerous examples of such businesses that would prefer to drive the company into death than change. And others where the chain of inheritance is being broken.
linkedin post 2022-06-29 05:12:48
Nigel Fleming
September 21, 2022