By Dr. Perry Haan, BAC member and professor of marketing and entrepreneurship and former dean of the Business School at Tiffin University.
Family businesses that are managed by multiple generations of family members can create continuity in those firms. But keeping the business in the family may be more complicated than it first appears. Overall, fewer than 30% of family businesses survive to the second generation and just 10% hold on through the third.
While many founders of companies hope or plan for one or more of their children […]