5 steps to prepare your family business for the next generation

Successfully engaging the next generation in a family business often depends on how well the parents accommodate the personal objectives of their children.

As far back as The Iliad, we’ve recognised there’s a thin line between “influencing” and “controlling” our inheritors. Achilles saw fit to rally against the oppressive grip of his master, Agamemnon, essentially because he didn’t like being told what to do.

Human beings all share Achilles’ instinct to act in self-interest and kick against authority – but when it comes to succession, family businesses ignore this at their peril.

Here are our 5 steps to bridging the gap between the generations in family business as published in CPA’s InTheBlack- David Harland, Managing Director of FINH

https://www.intheblack.com/articles/2017/06/07/prepare-family-business-next-generation

If you are looking for help with generational gaps in family business, please don’t hesitate to call us at FINH on 3229 7333.