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How to Minimize Risks in Family Business Succession

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
When considering passing their businesses to family members, owners should be aware of risk factors and understand how to minimize risks in family business succession.

Succession risk planning is needed to prevent family businesses from not making the ownership transition to designated heirs.

To reduce risks in family business succession planning, be aware of the 5 D's - death, disability, disaster, divorce and disagreements.

While we may not like to think about these factors, the failure to consider and prepare for them can place the future of your business in jeopardy.

Los Angeles and Southern California business owners contemplating transfer of their businesses to family members can benefit from talking with a provider of outsourced CFO services.

An on-demand CFO brings expertise in understanding how the 5 D's have caused disruptions in business operations and hindered smooth succession transitions to heirs.

A professional CFO is also experienced in assessing these risk factors and working with owners to prepare for them in efficient and cost-effective ways.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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