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Succession

July 1, 2006

Jim, aged 66, is the founding entrepreneur of a successful manufacturing company, with annual sales of $200 million, and has gradually transferred ownership of the business to the second generation. All five siblings, each employed in the company, will eventually own 20% of the business. Apart from their comfortable home, local farmland and $500,000 invested conservatively, all the assets of Jim and his wife Beth have been re-invested in JB Enterprises.

Reforming for business

May 1, 2006

Restrictions on succession issues potentially limit the profitable continuity of Italian family businesses. However, recent legislative changes have paved the way to substantially improve the situation, as Gioacchina Attanzio reveals

Gioacchino Attanzio is managing director of AIdAF (FBN Italy).

Living with the legacy

March 1, 2006

The transition into a subsequent generation is not always as smooth as one would like. Each generation has its own agenda whether it be achieving their individual dreams or taking a step back from the family business. Barbara Murray discusses five separate experiences

Barbara Murray is director of Family Business Solutions UK.

Is succession really letting go?

March 1, 2006

There is very little research on the perfect way for an entrepreneur to hand over the reins of their business to their successor. Johan Lambrecht and Jozef Lievens describe the progressive roles an entrepreneur can assume with their heirs

Johan Lambrecht is director of the Research Centre for Entrepreneurship at EHSAL European University College and professor at EHSAL. Jozef Lievens is partner of the law firm Eubelius and professor at EHSAL.

Engines at the ready

March 1, 2006

Red Rocket is a $150 million manufacturing and distribution company located on the outskirts of a major American city. The company’s focus is the manufacturing and distribution of children’s toy cars, trucks, ambulances, and helicopters etc.

Red Rocket is a $150 million manufacturing and distribution company located on the outskirts of a major American city. The company's focus is the manufacturing and distribution of children's toy cars, trucks, ambulances, and helicopters etc. This second generation company has been in existence since 1955. The company's workforce of 175 includes a sales team of 25 across North America, Europe and Australia. The company is family-owned and has always been profitable.

Drop the baggage

January 1, 2006

Karen Vinton is a family business consultant with Vinton Consulting.

If an heir is to be accepted by the workforce as a valid and hard-working employee, they have to prove they can contribute. At the same time they have to lose the old image of themselves as a free-loading teenager. Karen Vinton sets out the steps to success

Double-edged sword

January 1, 2006

Parental expectations and tradition can be a heavy mantle for heirs to inherit. Charles Sasse examines the issues that affect business families from the cradle to succession, and offers insights, practical as well as psychological, into how to lighten the load

Charles Sasse is president of the Belgian Association for Psychotherapy. He now practices as a psychoanalyst and consultant.

Who will take over?

November 1, 2005

One-third of Australian family business leaders do not know who is going to take over the business when they retire. And a study also has revealed that more than a quarter of them do not have an exit strategy in place.

Let go and move on

November 1, 2005

Family leaders can hamper progress and deter successors from taking over the running of the company. Dennis Jaffe summarises why it is important to keep a good work-life balance and the need for leaders to be aware of when the time is right to transfer power

Dennis Jaffe is a founding member of the Aspen Family Business Group. www.aspenfamilybusiness.com

From my hands to yours: retirement as self-renewal

November 1, 2005

Barbara Murray is director of Family Business Solutions UK.

Passing on the baton of responsibility is not easily achieved, particularly as demographic changes are intensifying the time pressures felt by senior and junior generations to plan their successions. Barbara Murray explains the importance of legacy and preparation