Abstract

Family-owned businesses continue to form the backbone of most of the national economies. However, because of the tenuous nature of the ownership structure of most small and family businesses only one in three family businesses succeeds in making it from the first to the second generation. In addition to issues and problems they encounter when they try to undertake expected and natural transitions (e.g. retirement, etc.), these smaller businesses are particularly vulnerable to the impact of unexpected, life-altering events that affect the business owner and often the business itself. Because of the lack of availability of research studies in this area, we used real life cases and events published in numerous business publications and from our personal experiences to categorize and summarize these incidents to develop a preliminary perspective of the various impacts such changes can have on these businesses.

Keywords

• Family Business, Business Succession

Internal Disruptions İn Family Business Succession: Death, Divorce, And Disability

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