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Best way to make sure your children continue with the family business

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Best way to make sure your children continue with the family business

Experts believe in living life to prepare an orderly transition to make sure the next generation is prepared for what the business is all about and how to evolve with times.

In today's environment, facing new problems, some analysts rely on classical formulas such as” raise a family protocol or other similar document that establishes the roadmap on how situations and growth will be addressed.

Because it's not a nominalist debate between choosing one person or another, but to structure and order," said Bermejo. And here are the specialist law firms. Luis Bravo, Cuatrecasas Gonçalves Pereira partner, stresses the importance of”direct processes”. So, fix, albeit flexibly, times in which the change will occur.

Of course, common sense, recalls Luis Bravo- advised to establish succession in life and go with magnifier tax implications.

However, give free rein to that continuity is very complicated.” In many companies, it is quite difficult to move on. Leaving, for example, old business and enter new ones is something that always generates reluctance” analyzes Diego Sánchez de León. Anyway, I will leave them behind, because times are different. Proof : experts say that large firms changes of this century will largely be technological.

Best way to make sure your children take your business to the next level is to prepare them for it now, Don't wait for it in some time in the future. have regular succession planning meetings and involve experts.

 Tags: business, children, continue, family

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