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Succession planning for a family business

A guide to transferring a business to a family member.

There are more than 3 million family businesses in the UK, which between them employ more than 9 million people and contribute 15% to GDP.

Despite these successes, family businesses often experience dificulties when it comes to passing their businesses to younger generations.

Research has found that only a third of family businesses are successfully transferred to the second generation of a family.

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