Succession and Planning in Family Business: The options and Pitfalls

By no author - Apr 20, 2015

This book aims to review the use, and in some cases misuse, of different vehicles and structures at a professional's disposal when dealing with succession issues around a family in business. It considers the options available to family business owners and seeks to demonstrate that, through understanding the options and potential pitfalls, a family business owner can make informed choices that enhance the chances of a successful transition. Later in the book I liken the family business to the Goose that lays the golden egg in Aesop's fable. Succession planning is the balance of caring for the Goose through multiple generations (where the Goose could be likened to the family business or family harmony) and utilising the golden egg - the income and wealth generated by the goose.