Embarking on an intergenerational succession journey can be challenging, but if done right, can offer rewards that will propel your family business legacy well into the future. The complexity of business family succession is clear when you consider how many life cycles are in play simultaneously: an individual path of personal development, a business path requiring stability, and an ownership presence that reflects the growing composition and intentions of the family.
To address these complexities, and to help you navigate these dynamics, Family Enterprise Canada has developed an interactive Intergenerational Succession Journey Map. This online tool, developed to be taken together, as a family, will guide you through the key components of your succession process in all three circles: family, business, and ownership.
Take time to connect with this helpful tool, learn how you can develop your succession plan, and then see how this helps your family, business, and ownership grow into a cohesive unit that generations of family members can be proud of and benefit from.