Building intergenerational trust: The key to successful family business succession
Succession is often a critical and delicate moment for any family business. The passing of leadership and wealth ownership from the incumbent to the next generation is not merely a technical handoff; it is a deeply intricate and emotionally charged affair specifically as family businesses are built on trust, loyalty and long-term goals. Without a firm foundation of intergenerational trust, succession risks unravelling family discords, which could jeopardise the very legacy families strive to preserve.