Peace in the Sandbox

According to a number of U.S. Small Business Administration reports, roughly 90 percent of U.S. businesses are family firms. Yet, only 30 percent of these companies successfully transition from the first to the second generation, and a mere 15 percent survive into the third.1 Succession planning for a closely held business is difficult for two primary reasons: Equity in a family business is unique

According to a number of U.S. Small Business Administration reports, roughly 90 percent of U.S. businesses are family firms. Yet, only 30 percent of these companies successfully transition from the first to the second generation, and a mere 15 percent survive into the third.1

Succession planning for a closely held business is difficult for two primary reasons: Equity in a family business is unique in that it often has substantial value but limited marketability; and family

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