Half of all owners of small and medium-sized businesses in Canada are set to retire over the next decade, and many of them own family businesses. Usually they expect their business to stay in the family after they retire, but in fact, only about 30% of family businesses survive into the second generation, 12% into the third, and 3% into the fourth or beyond. (Family Business Institute)
The reasons are many — lack of interest or friction among the offspring, loss of an essential skill set when Mom or Dad retires, and most important, lack of family business succession planning.
ReGeneration Family Business Transitions Inc. helps family business owners transition to a more detached role in the business, and helps the incoming general manager, whether offspring or non-family, successfully take the reins. We offer coaching, peer advisory boards, a Business Foundations program, and a comprehensive Leadership Transition Training Program (LTTP).