When you listen to the experts you invariably come away with the feeling that farm succession planning is anything but simple or easy. Why do the experts take that approach to something that must be done if the farm is going to survive? In whose interest is this picture doom and gloom? Maybe that’s why [...]
Read More...Passing Your Family Business to the Next Generation – Succession Planning As Penn State professor William Rothwell ominously points out in the forward to Exit Right: A Guided Tour of Succession Planning for Families in Business Together, more than 40% of the people who run the closely held operations that comprise 80% of the North [...]
Read More...According to The Practical Lawyer, 90% of all businesses in the United States are family businesses. These are businesses owned or controlled by members of the same family. Family owned businesses are very important to the US economy, creating 60% of total US employment, 78% of all new jobs, and 75% of wages paid. Over [...]
Read More...Some of you got it right, passing down the farm is farm succession from the current generation of owners to the next, the folks who are going to be owning and running the farm in the 21st. Century. Almost nine years ago we registered our domain name because we had been told that the older [...]
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