The risks of a succession without external support
Conducting a business succession without transferring operational responsibility to an external person can be dangerous, especially in the presence of several owners/parties involved, such as a group of heirs.
- Waste of time and money if the succession is poorly managed.
- Risk of operational drift, neglect of ongoing business, lost productivity and credibility.
- Risk of personal conflicts and obstruction of good business management.
- Loss of jobs.
- Business failure.