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The Succession Bridge®: Key Manager Succession Alternatives for Family Owned Businesses

Regardless of dreams and aspirations, it is estimated that only one-fourth of all family businesses will achieve succession. This means that a staggering three-fourths of all family businesses for any one or more reasons will not find successful continuity through the managing hands of the next gene ...Read more

Regardless of dreams and aspirations, it is estimated that only one-fourth of all family businesses will achieve succession. This means that a staggering three-fourths of all family businesses for any one or more reasons will not find successful continuity through the managing hands of the next generation. Two-thirds of this group never really had a prayer. Struggling profits, inadequate capitalization, outdated technology, family dissension or another weakness made the concept of succession no more than an imaginative dream. The long, frustrating years of fighting for profits, reconciling squabbles or futile efforts to teach the principles of business ultimately take their toll on those families that fail to build diverse strength in their business. One-fourth of all family businesses face this perplexing dilemma. This is both unfortunate and depressing when you fully grasp the immense implications of the termination of a successful business. In the absence of qualified heirs, there continues to be a viable opportunity for succession through key managers who can bridge any unfortunate gap. We call this concept, a Succession Bridge®.