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Only 13% of the companies that were onthe Fortune 500 list in 1955 remained there in 2010.
Professor John Ward in 1987 found that only 13% of
family enterprises are still viable in the third generation.
90% of inheritors will use a legacy last for only 10 years.
The next generation has always been the engine that either maintains or kills the business. Rather than grooming your Generation Next, think about forming a true partnership with them.
In America, there are more than 10 million Family or Small business owners.
Many business owners are going to have to decide when will be the right time to step out of the business and how you'll do it.
You choose when to do--now, at your retirement, at your death, or anytime in between. As long as the sale is for the Full Fair Market Value (FMV) of the business,
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