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Here are some basic tenets to consider if you’re lining up a succession plan with your kids in mind to take over the family business.

It is every business owner’s dream to pass the business on to the next generation. Unfortunately, some family businesses simply should not go to the next generation. Here’s why.

Family businesses face a variety of unique challenges that “normal” businesses do not have to deal with. One issue in particular is how to manage the money.

If too many ad hoc business habits are taking hold, it may be time to professionalize your company.

Sad but true: More than 65 percent of family businesses don’t survive to the next generation. There are many reasons why, of course. But much can be done to increase the odds of your family business crossing the chasm of succession.

Working side-by-side with your sister or brother can stay friendly – and professional

Columnist Henry Hutcheson asks Charlotte “copreneurs” what it’s like running a business with your spouse.

Henry Hutcheson
Henry Hutcheson is a nationally recognized family business speaker, author and consultant in Raleigh. He can be reached at Familybusinesscarolina.com.