Family owned businesses play a large role in the U. S. economy. 99% of U.S. businesses are family owned, from the corner store to mega-companies such as Mars, Inc. and L.L.Bean, Inc.
Most family owned businesses sooner or later focus on what is referred to as “succession planning.” The focus of succession planning is the continuity of a business from one group of owners or management to the next in line. The primary goal is the financially viable continuation of the business. Read more…
