Session A1: All in the Family: Strategic Continuity Planning for Every Owner-Managed Business (CE Credit Applicable)
(1 FEA CE Credit)
Transitioning a family business to the next generation comes with its own unique set of challenges and the statistics are not encouraging given the failure rate of family succession. Why do countless family business transitions fail while some of the world’s most successful companies perform admirably as multi-generational family businesses? If your vision is to transition your family business to the next generation, how do you do so in such a way that harnesses and expands your family’s human and social capital to ensure both the family’s as well as each individual’s dreams and aspirations are achieved? In this session you will learn a framework for reflecting on the risks and possibilities of succession including making a distinction between the transfer of ownership and the transfer of management. We will also present an approach for the family to discuss who, within our outside the family, is best suited to grow the company. The goal of this session is to help you assess the risks of family succession and provide you with resources to plan for your legacy.
This session runs at the same time as Session A2.