What If Your Family Isn’t Ready to Take Over?

You’re ready to exit your business, but the family member you’ve chosen to succeed you isn’t ready to step up. Succession planning can be the bane of a family business owner’s existence. You’re faced with tax and ownership issues and having to make strategic decisions how the business should evolve with the next generation of owners. If your family members aren’t ready for the responsibility or you’re having a hard time choosing from among several good candidates, a recent fambiz.com article suggests that an interim CEO could be the answer.