Succession Planning

Frederick D Lipman

Chapter Chapter 1 in The Family Business Guide, 2010, pp 7-27 from Palgrave Macmillan

Abstract: Abstract There is an old American saying attributed to Andrew Carnegie (1835–1919): “From shirtsleeves to shirt sleeves in three generations.” Approximately 30 percent of family firms survive into the second generation of ownership, and just 15 percent survive into the third generation.1 The rate of survival for a small family business is even lower, down to an average of five to ten years.2

Keywords: Cash Flow; Family Firm; Family Business; Intellectual Capital; Minority Shareholder (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11180-6_2

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DOI: 10.1057/9780230111806_2

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