Just like your strategic business plan, marketing plan or financial plan, a succession plan is an essential tool to chart the best course of action now and into the future. Putting a succession plan in place today will help you negotiate the problems that are inherent to governing a family business over time.

Do you realize failure to plan and manage succession is one of the greatest threats to your family business?

• Family-owned businesses make up 80% to 90% of all businesses in the US yet less than 35% have survived the transition to the second generation and a paltry 12% to the third (J.H. Astrachan and M.C. Shanker, "Family Businesses' Contribution to the U.S. Economy: A Closer Look" September 2003).
• Silence does not prevent family members from forming expectations about distribution rights, leadership, and rights to ownership.
• Nor does this silence help you make critical decisions for the health of your company.
• For many family businesses, not talking about succession simply sows the seeds of litigation.

Contact Galliard Group today, so you can begin this important process.