Planning for succession and transitions as a business family
Watch the Woodmans, a third generation business family in the food industry operating Woodman's of Essex based in Massachusetts, USA, with employees in the 5th generation share their experience of transitioning the business from one generation to the next, and related ownership decisions. In a family business, it is important to create a succession plan in order to be able to cope with unforeseen events. A clear succession plan will make the transition from one generation to the next easier in any given situation.
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