Business, Finance and Real Estate Blog

The lack of planning stifles small business: only 30% reached the second generation.

Only 30 percent of family businesses fail to survive a second generation, largely because the problems that arise with the generational change in the direction of these businesses and lack of proper planning to ensure continuity.

This was explained to Efe Carlos Batlle, who advises those companies on the generational relay. Battles stressed the importance of family SMEs instruments incorporate into their plans to address the succession process, unless they want to join that 70 percent of businesses that do not exceed the first generation cycle. Read the rest of this entry »