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Succession

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases

When their 45-year old father, Frank, founded his tool and die business he had hoped only for enough business to be able to provide for himself, his wife and their two boys, Roger and Alex.

In December 2002 the Daniels family were enjoying a rare Sunday dinner together.

It is never too late to start planning for succession. The financial/business options for providing what meets each family member’s needs are not as limited as they may at first appear

September 11 caught the world by surprise. One year on, the World Trade Center isn’t the only thing being rebuilt – many family businesses have to face tough decisions on succession, sales, hiring and development

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