Running a family business can be very rewarding. But keeping it going can be very challenging!
Often, family-owned businesses are a few decades old, set up 3 or 4 generations ago. Ensuing generations sometimes don’t want to take up the reins of the inherited business due to other priorities or career interests.
So if no one from the family is available to run the business, what are the options?
Close the business entirely? OR Sell it to a willing buyer?
Either option can be time-consuming, cumbersome and financially risky.