What if your last succession hope makes a career change?
Finding out their preferred choice of successor would prefer to step back from the family business when owners are planning for retirement is a tough decision to accept. It can cause a significant headache for succession planning for the next generation.
If they cannot be persuaded to change their mind, and no other family members are volunteering to step into their shoes, the business owner can feel trapped with no where to turn. However, they do have options.
Duncan James, Head of our Family Business team, outlines the challenges family business owners may face and the solutions available to them.
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