HARVARD BUSINESS REVIEW by Liz Kislik (September 27, 2022) Statistics on family-owned and -operated businesses show that although as many as one-third of family businesses transition to second-generation leadership, in the last five years, that number has dropped to only 19%. Why don’t more businesses pass down through the generations, and conversely, why aren’t younger generations more interested in taking on significant responsibility in their family businesses? Younger family members may be woefully unprepared to take on leadership roles when the business needs them, or may not wish to take on the burden of responsibility — either for managing the … Continued
